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FSSA Asia Focus Class B - Accumulation (GBP)

Sell:276.64p Buy:276.64p Change: 2.48p (0.89%)
Prices as at 6 February 2026
Sell:276.64p
Buy:276.64p
Change: 2.48p (0.89%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
Prices as at 6 February 2026
Sell:276.64p
Buy:276.64p
Change: 2.48p (0.89%)
Prices as at 6 February 2026
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund is on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. However, this is not a recommendation to buy.

FSSA has a long and successful history investing in the Asia Pacific region. In this fund, Martin Lau and his team invest in some of the most promising businesses based across Asia. They look for companies with strong cash flows, an ability to keep costs under control and high standards of company management.

Martin Lau joined FSSA in 2002 and has managed this fund since it launched in 2015. He’s a highly regarded fund manager in Asia and has built up a long track record, with over 20 years of fund management experience. During that time, he’s managed multiple funds that invest across Asia, as well as funds focussed on China, an area in which he has particular specialism.

Lau is a humble fund manager and is open about all elements of fund management, including those areas where things haven’t worked as well. This is a quality we like as it shows continued development as an investor.

Our view on the sector

Asia is home to some of the most dynamic economies in the world and has the potential to grow strongly over the long term. Funds in this sector invest in more mature economies like Korea, Taiwan, Hong Kong and Singapore together with emerging economies such as the Philippines and Indonesia. Some also invest in other developed economies such as Australia. The region is home to some of the biggest economies in the world, like China and India, and a growing middle class means they're less reliant on exporting to the West. Domestic consumption and the growing use of technology could help drive the next phase of their growth. We think Asia is home to plenty of good investment opportunities but it's a higher-risk area to invest so a long-term approach is needed.

Performance Analysis

Martin Lau and his team have a long track record investing in Asian companies. Our research shows they’ve done well by focusing on the prospects of individual companies, rather than taking a view of the wider economic environment.

Lau and his team are conservative in the way they manage the fund and aim to limit losses in a falling market. Their patient investment approach and focus on quality companies means the fund tends to hold up relatively well when markets are volatile but can lag when they’re rising strongly, though it won’t always perform this way.

Investment Philosophy

The team’s investment philosophy is founded on stewardship. When they make an investment, they see themselves as part-owners of the business. They engage with companies to make sure they’re run in a way that’ll benefit all shareholders, and also consider environmental, labour and other governance issues.

Process and Portfolio Construction

FSSA’s investment philosophy centres around quality. Lau and his team believe a company’s management team is one of the most important elements of quality. They search for companies run by reputable management teams that manage risks well to help grow their businesses over the long term.

The team also look for companies that have potential to grow their earnings over the long run. This includes those that have a strong brand that competitors can’t replicate, allowing the company to raise prices without a loss in consumer demand.

The managers are high-conviction investors, which means the fund can look quite different to the broader Asian stock market (the benchmark).

The fund invests in higher risk emerging markets.

question mark Manager Track Record Based on HL Quantitative Research

  • First State Asian Equity Plus I...
  • First State Asia Focus B GBP Acc
  • IA Asia Pacific (Excluding Japan)
FROM: TO:


Source: Refinitiv Lipper

Fund Track Record

06/02/21 to 06/02/22 06/02/22 to 06/02/23 06/02/23 to 06/02/24 06/02/24 to 06/02/25 06/02/25 to 06/02/26
Annual return -3.33% 2.98% -13.82% 14.98% 13.03%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Information about the fund

Fund manager biography

manager photo
Manager Name: Martin Lau
Manager start date: 24 August 2015
Manager located in: Hong Kong

Martin Lau is Director of Greater China Equities at First State Stewart (FSS). FSS is part of First State Investments and the team manages equities in Asia Pacific, Global Emerging and other international markets. He joined the team in April 2002.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now