Firth Investment Management Pte Ltd, a company incorporated with limited liability in Singapore, is an independent investment manager focused exclusively on investing in listed smaller capitalisation Asia ex-Japan companies.

The company was founded in 2007 by Richard Firth and John McCartney. It holds a Capital Markets Services License issued by the Monetary Authority of Singapore and is thereby licensed under the Securities and Futures Act to conduct the regulated activity of fund management. Our client base is made up exclusively of institutions and accredited investors.

Richard Firth, the founder and major shareholder, has worked in the investment management industry since 1987, principally at Schroders, and is a specialist in Asian equity investment. John McCartney, also a major shareholder, has worked in the financial sector since 1996, principally as a sell-side research analyst focusing on Asian small and mid-cap equities.

Firth Investment Management Pte Ltd has operated with a comprehensive team of people since the company’s inception in order to ensure best practice in all areas. Clear procedures have been established for the investment, dealing compliance and back office functions to ensure we achieve the highest standards.
Asia ex-Japan smaller capitalisation companies are typically less well-researched, offering scope for material pricing inefficiencies. Our active investment management approach has produced a materially better outcome than regional equity index benchmarks both in terms of return and volatility of returns. We consider that our approach is a valid solution to investors seeking outperformance in Asia ex-Japan equities in general (not just within the small cap sub-class) and also those investors seeking long term positive returns from Asia ex-Japan equities.

We are active managers employing a long-only value approach to investment. Our investment process has been developed as a result of our own research and extensive experience with the asset class. We focus on stock selection and emphasise managing the risks specific to the investment strategy through a framework of risk management limits.

We generate our own ideas and conduct our own research. We put great emphasis on what we pay for a stock and the qualities of a company that we get in return for what we pay. At a very basic level we aim to invest in cheap stocks where there is a reasonable probability of positive change (whether endogenous or exogenous to the company) to unlock the cheapness. We pay great attention to the appropriateness of a company’s balance sheet and its ability to generate cash flow. Overall we always look for a margin of safety before investing in a company. We are particularly attracted to persistent dividend payments.

180 Cecil Street, #13-03 Bangkok Bank Building
Singapore 069546
Tel: +65 6327 5978
Fax: +65 6410 9661
Email: enquiries@firthinvestment.com