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First Sentier Investors
First Sentier Investors, led by CEO Mark Steinberg, manages ~$100B-$150B across multi-asset strategies from its Sydney HQ. Spun out from Commonwealth Bank.
First Sentier Investors
First Sentier Investors was founded in 1988 as a division of Commonwealth Bank of Australia, later branded as Colonial First State Global Asset Management before rebranding to its current name in 2019. The firm was acquired by Mitsubishi UFJ Financial Group's asset management arm in 2019, making it part of one of the world's largest banking groups. Mark Steinberg became CEO in 2022, taking over from Julian Faires. The firm manages capital across public equities, fixed income, multi-asset strategies, infrastructure equity, and real estate. It runs a multi-boutique model where autonomous investment teams — such as Stewart Investors, RQI Investors, and FSSA Investment Managers — operate under the First Sentier umbrella. Known portfolio holdings include Berkshire Hathaway, Microsoft, and Nestlé (per public filings, 2023). The investment team covers developed and emerging markets, with a strong presence in Asia-Pacific, Europe, and North America. First Sentier Investors employs roughly 1,000 people globally across offices in Sydney, London, New York, Hong Kong, Tokyo, Singapore, and Melbourne. The firm manages the First Sentier Foundation, a philanthropic arm that supports community and environmental causes. In November 2023, First Sentier announced it had committed to net-zero portfolio emissions by 2050 (per the firm, November 2023). The firm also operates as a signatory to the UN Principles for Responsible Investment. First Sentier's structural differentiator lies in its multi-boutique model — each investment team maintains its own culture, philosophy, and decision-making, while sharing distribution and operational infrastructure. This allows it to retain specialist talent while offering clients a diversified range of strategies under one roof. The 2019 acquisition by MUFG gave it distribution reach into Japan and broader Asian markets while preserving its Australian heritage and independent-minded teams.
General information
Firm type
Asset Manager
Year founded
1988
AUM
$100B – $150B (Altss estimate)
Location
Region
Asia
Country
Australia
City
Sydney
Corporate office
Sydney, New South Wales, Australia
Additional offices
London · New York · Hong Kong · Tokyo · Singapore · Melbourne
Principals
Mark Steinberg
Chief Executive Officer
Steven Andrew
Chief Investment Officer, Multi-Asset
Sector focus
Frequently asked questions
Who runs investment decisions at 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.
Is First Sentier structured as a family office or an asset manager?
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.
What investment teams operate under the First Sentier umbrella?
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.
Does First Sentier participate in direct investments or only public markets?
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.
How did First Sentier originate, and who owns it now?
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.
Which sectors does First Sentier explicitly focus or avoid?
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.
Does First Sentier maintain philanthropic structures, and how are they separated?
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.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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