Rated Fund 2013-2017. Invests in sustainable businesses for the long term
This fund (formerly First State Asia Pacific Leaders) has been one of the most popular Asia Pacific funds with investors and one of the most consistently good performers. A major attraction is the excellent track record of its manager, the veteran Asia equity expert Angus Tulloch.
In July 2016 Tulloch handed over the reins to his co-manager David Gait, based in Sydney. However, Gait also has a strong performance record. His co-manager is Sashi Reddy, based in Singapore. They adhere to the same investment philosophy as Tulloch, so we have decided to retain this fund.
It invests throughout the Asia Pacific region including Australia and New Zealand, but excluding Japan. It focuses on large and medium-sized companies. These businesses generally have a total stock market value of at least $1 billion (£810 million).
Under Gait, who leads Stewart Investors' sustainable investment team, the fund also has an emphasis on sustainability, so it has a bias towards companies positioned to benefit from and contribute to sustainable development in the countries they operate in.
The Stewart Investors ethos that Gait and Reddy follow means each potential investment is evaluated according to seven principles: looking for companies that treat their investors fairly (stewardship); avoiding capital losses (an absolute return mindset); examining company fundamentals (bottom-up analysis); not investing for the short term (long-term thinking); searching for quality companies; finding sustainable and predictable growth; and following strong valuation disciplines.