First Sentier Investors

First Sentier operates as a multi-boutique manager, so each investment team — Stewart Investors, RQI Investors, FSSA Investment Managers — has its own CIO and independent investment process. Group-level CIO roles exist for multi-asset (Steven Andrew) and infrastructure, but day-to-day stock selection and allocation decisions sit with the individual teams. Mark Steinberg is the group CEO and oversees strategy.

First Sentier is a global asset manager, not a family office. It was originally the asset management arm of Commonwealth Bank of Australia and is now majority-owned by Mitsubishi UFJ Financial Group. It manages capital for institutional clients, such as pension funds and sovereign wealth funds, alongside retail investors.

First Sentier's multi-boutique model includes Stewart Investors (global equities with a sustainability focus), RQI Investors (global value equities and fixed income), FSSA Investment Managers (Asian equities), and a direct infrastructure and real estate team. Each team has its own investment philosophy and is typically based in a different global office.

First Sentier does manage private markets strategies, particularly in infrastructure equity and real estate. Its infrastructure team invests directly in core infrastructure assets globally, including transport, energy, and utilities. However, the firm is primarily a public markets manager across equities and fixed income, with private markets activities sitting alongside these.

First Sentier began as the asset management division of Commonwealth Bank of Australia in 1988, formerly known as Colonial First State Global Asset Management. In 2019, Mitsubishi UFJ Financial Group's asset management subsidiary acquired the firm, making it a part of MUFG. The firm rebranded to First Sentier Investors in 2019 to reflect its independent identity.

First Sentier's Stewart Investors team explicitly avoids investments in companies with significant exposure to fossil fuels, tobacco, and gambling, aligning with its sustainability mandate. The broader firm does not have a blanket avoidance policy but as a UN PRI signatory applies ESG screening across portfolios. The infrastructure team focuses on core sectors like energy, transport, and social infrastructure.

Yes, the firm operates the First Sentier Foundation, which supports community and environmental initiatives globally. The foundation is funded by a percentage of the firm's revenue and is independent from its investment management activities. This separation ensures philanthropic contributions do not affect portfolio management decisions.