Contact
Search

You are visiting Hong Kong

If this is incorrect,

REGION

COUNTRY

INVESTOR PROFILE

Comgest is an independent, international asset management group which, since its creation in 1985, has pursued a long-term ‘Quality Growth’ and responsible investment style. 

Comgest serves investors who share its long-term investment horizon around the world

Interview

07-May-2025

What gives Comgest its edge in Japanese equities?

Richard Kaye, Portfolio Manager, Japanese Equities,  discusses why investors should consider an allocation to Japan, why tariff impacts seem a low risk and what gives Comgest its edge in investing in Japan.

Our expert

Richard Kaye joined Comgest in 2009 and is an Analyst and Portfolio Manager specialising in Japanese equities. He is also a member of the Comgest Group's Investment Committee.

With a wealth of experience in Japanese equities, Richard became co-lead of Comgest’s Japan equity strategy upon joining the Group. He started his career in 1994 as an Analyst with the Industrial Bank of Japan and then joined Merrill Lynch in the same role in 1996. In 2005 he moved to the Wellington Management Company in Boston as a Portfolio Manager of Japanese TMT stocks.

Richard graduated from Oxford University (UK) where he majored in Oriental Studies.

For the past 35 years, we have relentlessly focused on a single objective of delivering growth portfolios to our investors

OUR PARTNERSHIP APPROACH DRIVES OUR INVESTMENT STYLE: DURABLE, UNCONSTRAINED & RESPONSIBLE

Investment STRATEGY

We are selective and disciplined, focused on sustainable, long-term growth.

Find out more

Our ValueS

Comgest's foundations are built on our enduring partnership culture. We believe having skin in the game aligns our interests, responsibilities, risks and rewards with those of our clients. 

Find out more

ESG

Environmental, social and governance criteria are integrated into our bottom-up analysis and our investment process.

Find out more

OUR THINKING

RESEARCH & ANALYSIS ARE the cornerstone of OUR INVESTMENT PROCESS

Artificial Intelligence: with great power comes great responsibility

Digitalisation, cloud computing, and AI are driving global data centre expansion. Big tech companies need more computing power for their AI services, increasing data centre infrastructure and environmental impact. In this investment letter, Comgest ESG Analyst Liudmila Strakondonskaya emphasises the need for effective governance and decision-making to balance AI growth with ESG considerations.

Find out more

Equities: Why Valuation Alone Won’t Drive Long-Term Success

Is a stock at 12x earnings really a bargain? Not necessarily. In this thought-provoking piece, Comgest CIO and Portfolio Manager Franz Weis challenges the conventional wisdom around valuation metrics. He explains why long-term success comes from quality growth and earnings visibility — not chasing cheap-looking stocks. Discover how avoiding the “value trap” is central to Comgest’s Quality Growth investment philosophy.

Find Out More

GLOBAL EQUITIES: AI’s gold rush: Unearthing the nuggets of Quality Growth

Over the past two years, the AI "Gold Rush" has led to the MSCI World Index becoming concentrated in just a handful of AI-related stocks. In this investment letter, Comgest’s Global Equity team explains why we typically focus on AI infrastructure companies with high barriers to entry and strong pricing power, while avoiding early-stage AI models and software due to intense competition and potential commoditisation.

Find Out More

Our comgest

Our Team

We think, act and invest globally

An independent group with a single focus on equities.

Find out more

OUR FUNDS

QUALITY GROWTH, UNCONSTRAINED

We remain focused on a concentrated number of quality growth companies.

FIND OUT MORE
Comgest

Important Information - Professional Investors

Please read the following carefully before proceeding. This website is only available to Institutional Professional Investors and / or Corporate Professional Investors.

Please note that you must TICK the box below certifying that you are an Institutional Professional Investor or a Corporate Professional Investor before you can click [ACCEPT]:

  • an Institutional Professional Investor (e.g. a regulated investment adviser / bank / fund or government etc.) which falls under paragraphs (a) to (i) of the definition of “professional investor” in section 1 of Part I of Schedule 1 of the Hong Kong Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) (the “SFO”)) (“Institutional Professional Investor”) and by clicking the [ACCEPT] button at the end of this page you are consenting to be bounded by all the terms set out herein; or,
  • a Corporate Professional Investor (i.e. a corporation (or an investment holding company owned by a combination of any types of “professional investors”) / partnership which has an investment portfolio of not less than HK$8 million or a corporation (or an investment holding company owned by a combination of any types of “professional investors”) / partnership / trust which has total assets of not less than HK$40 million) which falls under paragraph (j) of the definition of “professional investor” in section 1 of Part I of Schedule 1 of the SFO and section 3(a), (c) and (d) of the Securities and Futures (Professional Investor) Rules (Cap. 571D of the Laws of Hong Kong) (“Corporate Professional Investor”), and by clicking the [ACCEPT] button at the end of this page, you are consenting to be bounded by all the terms set out herein.

You are now proceeding to a website which is intended only for those investors who qualify as Institutional Professional Investors or Corporate Professional Investors. In addition, the website is not directed to any person in any jurisdiction where the publication or availability of this website is prohibited. Persons in respect of whom such prohibitions apply or persons other than those specified above must not access this website. By proceeding, you are deemed to be representing and warranting that you are an Institutional Professional Investor or a Corporate Professional Investor.

The website may contain information on investment products that are not authorized by the Securities and Futures Commission for sale to the public in Hong Kong and may only be viewed by Hong Kong investors who are Institutional Professional Investors or Corporate Professional Investors. Any product documents and information contained herein are intended for Institutional Professional Investors or Corporate Professional Investors only. They are for reference only and for those persons or entities in any jurisdiction or country where the information in this document and use thereof is not contrary to local law or regulation. They are only for the intended recipients and shall not be reproduced in any form or transmitted to any other third parties.

Investment involves risks. Past performance is not necessarily a guide to future performance. The value of investments and the income from them may go down as well as up.

Please note that www.comgest.com is the Comgest group’s only official website and it has not been reviewed or approved by the Securities and Futures Commission in Hong Kong. This site is not intended for citizens or residents of the United States of America or for any “U.S. Person” as this term is defined in SEC Regulation S under the U.S. Securities Act of 1933.

or