Nippon Life Global Investors Singapore (NLGIS) has positioned itself as a prominent player in generating long-term alpha while providing access to ASEAN equities, Asian equities, and global emerging market equities, primarily serving the needs of the Nippon Life group.
This dedication to excellence has led to the firm being recognised in Asia Asset Management’s (AAM) 2025 Best of the Best Awards for Best ASEAN Equity (3 years).
In an interview with AAM, Hiroyuki Shoji, chief executive officer of NLGIS, shared insights into the firm’s commitment to performance excellence, serving clients’ evolving needs, and to further expanding its business to offer effective solutions to third-party clients.
Shoji rejoined to lead NLGIS in 2023 and had initially helped build the Singapore unit’s local investment team 12 years ago. He praises his team’s success in adapting to the evolving environment and investment needs of clients.
Early evolution and strategic adaptation
Initially, NLGIS concentrated its efforts on broad Asian markets, reflecting a period when investors had robust interests and allocations towards regional equities strategies. Recognising the importance of adaptability, the firm expanded its investment offerings to include a smaller subset of ASEAN equities and a much broader universe of global emerging market equities strategies to meet changing investor preferences.
The past few years have marked a pivotal transformation for NLGIS. In addition to widening its geographical expertise beyond Asia, the firm has dedicated itself to sustainable investing, which also is in alignment with the group’s purpose of making “A Good Investment for the Future”, which Shoji also views as fundamental to capturing long-term value in an increasingly challenging and complex world.
Competitive edge
Regarding market positioning, Shoji highlights the firm’s location in Singapore as a crucial advantage. Unlike many competitors who approach emerging markets from a developed market perspective, NLGIS benefits from its unique vantage point in the heart of Asia. This strategic location enables the firm to cultivate a deeper understanding of the markets it invests in.
Recognising that the ASEAN market is not homogeneous, Shoji emphasises its diversity in demographics and economic development. To address these complexities, NLGIS has assembled a local team that incorporates these dynamic factors into their portfolio construction. The team combines macro top-down inputs with bottom-up fundamental research and the use of a differentiated quantitative tool in managing portfolios and their associated risks. Shoji notes that this localised approach is challenging for international firms to replicate, as it requires significant local resources and knowledge.
In line with this strategy, NLGIS hired Christina Hee in 2020 to oversee its ASEAN equity strategy. Shoji considers this as a prudent choice, as the ASEAN equity strategy has shown consistent outperformance since her appointment.
Investment philosophy guiding long-term success
From an investment philosophy standpoint, NLGIS is committed to generating alpha as an active manager, focusing on identifying companies with positive cash flow growth momentum. Shoji explains that NLGIS’ fundamental approach enables the firm to recognise companies positioned for sustainable growth backed by long-term structural trends.
“We adopt a long-term perspective because we are not a trading-oriented manager,” Shoji articulates. “NLGIS is a boutique investment firm backed by strong institutional support. We excel at identifying long-term market trends and delivering consistent returns.”
In developing its third-party asset management business, NLGIS is enhancing its business development capabilities. “We are actively reaching out to various investors to understand and meet their evolving demands,” Shoji notes.
Navigating global market trends
As for the global investment landscape in 2025, it presents a multifaceted picture characterised by divergence and transition. In the face of tariffs, geopolitical tensions and resulting market uncertainties, the team maintains a focus on fundamental analysis, aided by quantitative screening. The ASEAN portfolio employs a barbell strategy that balances growth and structural-thematic stocks (for example, tech/AI plays) with income-yielding names (for example, REITs) to create a resilient portfolio without sacrificing returns.
In summary, NLGIS’ commitment to evolving alongside the investment landscape, combined with its deep understanding of the ASEAN market and a robust investment philosophy, positions the firm well for ongoing success in a dynamic and competitive environment. The proactive strategies implemented by NLGIS under Shoji’s leadership highlight the firm’s dedication to sustainable growth and adaptability, setting it apart in an ever-evolving financial landscape.
With a keen focus on local insights, strategic adaptation, and long-term planning, NLGIS is well equipped to navigate the complexities of both regional and global markets, solidifying its standing as a trusted investment partner.
