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THE INVESTOR
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WELCOME
TO THE
INVESTOR
CENTRE
T
he rst three months of
2017 have been generally
positive for world markets,
despite the potential for
volatility arising from the UK’s
activation of Article 50 to signal
the beginning of Brexit
negotiations and key elections
taking place in Europe.
There have been a number of
positive results for many of the
top companies in the UK and
the US, while the FTSE 100 has
hit record highs.
In this edition’s ‘Investor
Centre’, our Chief Investment
O cer Chris Ralph reviews
the key events of the quarter
in more detail, we hear about
First State Stewart Asia’s
investment strategy from Senior
Portfolio Manager Alistair
Thompson, and we look at
how the starting valuations
of stocks a ect long-term
returns from the market.
IN THIS SECTION
26 The quarterly report
28 Portfolio overviews
34 Portfolio analysis
36 Viewpoint
Alistair Thompson (pictured),
First State Stewart Asia
38 Insights
Fund manager quarterly commentaries are
now available in the Insights section of your
Partner’s website or at www.sjpinsights.co.uk
THE INVESTOR CENTRE
Rebecca Toh