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IMPORTANT NEWS: Transition of investment management responsibilities (excluding the Worldwide strategies)
First Sentier Group, the global asset management organisation, has announced a strategic transition of Stewart Investors' investment management responsibilities to its affiliate investment team, FSSA Investment Managers, effective Friday, 14 November close of business EST.
Update on the transition of investment management responsibilities
Thursday, 26 March 2026
On Thursday 13 November 2025 First Sentier Group (the Group), the global asset management organisation, announced a strategic transition of Stewart Investors' investment management responsibilities to its affiliate investment team, FSSA Investment Managers (FSSA), effective Friday, 14 November close of business EST.
Since the unexpected departure of three senior Stewart Investors’ portfolio managers in August 2025, we have worked closely with our affiliate investment teams to assess the longer-term impact of these exits.
Transition of investment management responsibilities to FSSA
In November 2025, we made the decision to transition investment management responsibilities for the vast majority of Stewart Investors’ funds to the FSSA business. Since then FSSA have assumed investment management responsibilities for, and continue to run, the following funds.
| Fund name | Lead / Co-managers |
|---|---|
| Stewart Investors Asia Pacific Leaders Fund | Martin Lau / Rizi Mohanty |
| Stewart Investors Asia Pacific All Cap Fund | Sree Agarwal / Martin Lau |
| Stewart Investors Global Emerging Markets Leaders Fund | Rasmus Nemmoe / Rizi Mohanty |
| Stewart Investors Global Emerging Markets All Cap Fund | Rasmus Nemmoe / Rizi Mohanty |
Many will recall Stewart Investors and FSSA Investment Managers share a rich heritage and operated collectively under the First State Stewart brand until 2015. This shared history and investment philosophy, combined with numerous overlapping strategies, positions FSSA as the natural choice to assume responsibility for these capabilities.
With an average investment experience of over 18 years and a geographical footprint in Hong Kong, Singapore and London, we are confident that FSSA’s investment capability, quality and breadth is best placed to deliver on our clients’ expectations. Given the history, and therefore the natural investment synergies, we believe that transitioning of investment responsibilities from Stewart Investors to FSSA strengthens our offering and will not affect the team in delivering on expectations.
Closure of selected Stewart Investors’ funds
Since November 2025 we have also continued to review a small number of Stewart Investors’ strategies.
Following this review and after careful consideration, we have made the strategic decision to close a number of Stewart Investors funds, as in our view, they are no longer commercially viable over the long term. We believe that terminating these funds and returning proceeds to shareholders is in their best interests.
We have made the decision to close the following funds:
| Fund names | Vehicle | Planned termination date |
|---|---|---|
| Stewart Investors Global Emerging Markets (ex China) Leaders Fund | Irish VCC | 28 April 2026 |
| Stewart Investors Indian Subcontinent All Cap Fund | Irish VCC | 28 April 2026 |
| Stewart Investors Worldwide All Cap Fund | Irish VCC | 28 April 2026 |
| Stewart Investors Worldwide Leaders Fund | Irish VCC | 15 June 2026 |
We intend to run these funds in line with their stated investment objectives until their termination dates. After the termination dates we will distribute redemption proceeds to investors.
We remain committed to supporting our clients throughout this period. Any questions can be directed to [email protected]
Further information
Further questions should be submitted to [email protected]
Important information
In the UK, issued by First Sentier Investors (UK) Funds Limited which is authorised and regulated by the Financial Conduct Authority (registration number 143359). Registered office Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB number 2294743.
In the EEA, issued by First Sentier Investors (Ireland) Limited, which is authorised and regulated by the Central Bank of Ireland. First Sentier Investors (Ireland) Limited is registered in the Republic of Ireland, No: 629188. Registered offices: 70 Sir John Rogerson’s Quay, Dublin 2, Ireland.
Elsewhere, issued by First Sentier Investors International IM Limited which is authorised and regulated in the UK by the Financial Conduct Authority (registered number 122512). Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB number SCO79063.
First Sentier Investors entities referred to in this document are part of First Sentier Investors a member of MUFG, a global financial group. First Sentier Investors includes a number of entities in different jurisdictions. MUFG and its subsidiaries do not guarantee the performance of any investment or entity referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of MUFG or its subsidiaries, and are subject to investment risk including loss of income and capital invested.
An affiliate of First Sentier Group
Copyright © 2026 Stewart Investors.