Investment philosophy

Investment philosophy

Our Global Resources team does not attempt to forecast short-term commodity prices. Instead, portfolios are constructed using fundamental bottom-up stock analysis. Where possible, portfolios contain a diversified mix of investments by sector and commodity type.

The investment team believes that having first-hand experience provides a better basis upon which to assess companies and assets in the mining and energy sectors. The team has conducted over 950 mine and site visits across 60 countries since 1997 – over 70 visits annually (as at 31 December 2010). Our size and reputation in the global resource sector provide excellent access to company assets and management.

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First State Investments is the trading name for the following companies which are authorised and regulated by the Financial Services Authority:
First State Investments (UK) Limited, registered office 3rd Floor, 30 Cannon Street, London, EC4M 6YQ. Registered in England & Wales with company number 2294743.
First State Investment Management (UK) Limited, registered office 23 St. Andrew Square, Edinburgh EH2 1BB. Registered in Scotland with company number SC47708.
First State Investments International Limited, registered office 23 St. Andrew Square, Edinburgh EH2 1BB. Registered in Scotland with company number SC79063.

The following company also carries on business within the First State Investments group:
First State Investment Services (UK) Limited, registered office 3rd Floor, 30 Cannon Street, London, EC4M 6YQ. Registered in England & Wales with company number 3904320.