Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>USA hits record weights of 56.55% but remains a large underweight.  Europe's big 4 comprise a +6.75% overweight. </li>
<li>Taiwan closes in on China &amp; HK as ownership soars to record highs.  Argentina hits fresh highs as Australia, Brazil and Sweden are increasingly avoided.</li>
<li>Japan exposure falls to record lows of 4.24% and  India overtakes China as the top EM country underweight among Global investors.</li>
</ul>


USA hits record weights of 56.55% but remains a large underweight.  Europe's big 4 comprise a +6.75% overweight. 
Taiwan closes in on China &amp; HK as ownership soars to record highs.  Argentina hits fresh highs as Australia, Brazil and Sweden are increasingly avoided.
Japan exposure falls to record lows of 4.24% and  India overtakes China as the top EM country underweight among Global investors.


Active Global Funds:  Country Positioning - USA Highs, Japan Lows, Taiwan Record Ownership

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>The NDA's landslide victory in Maharashtra has ushered in a period of political stability, boosting market sentiment and investor confidence. This will increase government spending on infrastructure &amp; rural development.</li>
<li>Analysts predict a modest recovery in corporate earnings in the second half of the fiscal year, potentially triggering a "mini risk-on rally". </li>
<li>While women-centric welfare schemes contributed to the NDA's success, concerns arise regarding their potential strain on state finances. </li>
</ul>


The NDA's landslide victory in Maharashtra has ushered in a period of political stability, boosting market sentiment and investor confidence. This will increase government spending on infrastructure &amp; rural development.
Analysts predict a modest recovery in corporate earnings in the second half of the fiscal year, potentially triggering a "mini risk-on rally". 
While women-centric welfare schemes contributed to the NDA's success, concerns arise regarding their potential strain on state finances. 


Maharashtra Elections Inject Optimism into Indian Markets

Independent Economist, Forecaster and Strategist

Thomas Lam

Macroeconomics

<ul>
<li>The Republican sweep, both in Congress and the White House, seems to have sparked a risk-on attitude across financial markets of late</li>
<li>But Republican presidencies have coincided more regularly with periods of post-war economic downturns</li>
<li>And the disparate US equity market performance enveloping presidential cycles is a nagging puzzle   </li>
</ul>


The Republican sweep, both in Congress and the White House, seems to have sparked a risk-on attitude across financial markets of late
But Republican presidencies have coincided more regularly with periods of post-war economic downturns
And the disparate US equity market performance enveloping presidential cycles is a nagging puzzle   


Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

<ul>
<li>ADX Energy (ADX AU) C : Portion of deeper target at Welchau flows water on test – Two intervals (total of ~16 m) in the Steinalm formation were tested at a stable rate (natural flow) of 240-290 bbl/d of drilling mud, likely contaminated formation water and some oil traces.</li>
<li>Gas was initially observed at surface. While the achieved flow rate highlights the high permeability of the natural fractures, the absence of hydrocarbons is disappointing and surprising given the results of the logs, the inflow of gas while drilling, the analysis of the retrieved cores (with indication of hydrocarbons) and the fact that oil samples were recovered from this interval.</li>
<li>The well is now being flowed while ADX is running a downhole production logging tool to analyse the contribution of the various sections of the well to flow. </li>
</ul>


ADX Energy (ADX AU) C : Portion of deeper target at Welchau flows water on test – Two intervals (total of ~16 m) in the Steinalm formation were tested at a stable rate (natural flow) of 240-290 bbl/d of drilling mud, likely contaminated formation water and some oil traces.
Gas was initially observed at surface. While the achieved flow rate highlights the high permeability of the natural fractures, the absence of hydrocarbons is disappointing and surprising given the results of the logs, the inflow of gas while drilling, the analysis of the retrieved cores (with indication of hydrocarbons) and the fact that oil samples were recovered from this interval.
The well is now being flowed while ADX is running a downhole production logging tool to analyse the contribution of the various sections of the well to flow. 


India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>Big Tech companies are already generating significant revenue from AI. Microsoft expects to reach $10 billion in AI revenue by the next quarter, making it their fastest-growing area.</li>
<li>In the third quarter of 2024 alone <strong>Microsoft, Google, and Meta</strong> collectively spent over $42 billion on AI infrastructure, primarily on building data centers and purchasing computing equipment.</li>
<li>Companies are projecting continued high spending on AI into 2025 to meet growing demand. However, challenges remain, including supply constraints for AI chips</li>
</ul>


Big Tech companies are already generating significant revenue from AI. Microsoft expects to reach $10 billion in AI revenue by the next quarter, making it their fastest-growing area.
In the third quarter of 2024 alone Microsoft, Google, and Meta collectively spent over $42 billion on AI infrastructure, primarily on building data centers and purchasing computing equipment.
Companies are projecting continued high spending on AI into 2025 to meet growing demand. However, challenges remain, including supply constraints for AI chips


Thematic Report: AI Wave- Big Tech's Spending Spree

Latin America
Insights on Latin America (LATAM)

Active Global Funds: Country Positioning - USA Highs, Japan Lows, Taiwan Record Ownership

USA hits record highs, remains key U/W. Taiwan and Argentina hit new ownership peaks, Japan slumps to new lows. Europe's big 4 remain a key...

Steven Holden

Maharashtra Elections Inject Optimism into Indian Markets

NDA's victory in Maharashtra boosts market sentiment, predicts recovery in corporate earnings, but raises concerns about strain on state finances...

Nimish Maheshwari

The Next Four Years...

Let the debate on the prospect of “Winter is Coming” or/and “A Golden Age” under "Trumpism" commence as 2024 winds down.

Thomas Lam

AUCTUS ON FRIDAY - 22/11/2024

ADX Energy (ADX AU) C : Portion of deeper target at Welchau flows water on test – Two intervals (total of ~16 m) in the Steinalm formation were...

Auctus Advisors

Thematic Report: AI Wave- Big Tech's Spending Spree

Big Tech companies like Microsoft are seeing massive revenue growth from AI, with projections of $10 billion in AI revenue by next quarter.

Sudarshan Bhandari

Active Global Funds: Country Positioning - USA Highs, Japan Lows, Taiwan Record Ownership

USA hits record highs, remains key U/W. Taiwan and Argentina hit new ownership peaks, Japan slumps to new lows. Europe's big 4 remain a key...

Steven Holden

Maharashtra Elections Inject Optimism into Indian Markets

​NDA's victory in Maharashtra boosts market sentiment, predicts recovery in corporate earnings, but raises concerns about strain on state finances...

Nimish Maheshwari

The Next Four Years...

Let the debate on the prospect of “Winter is Coming” or/and “A Golden Age” under "Trumpism" commence as 2024 winds down.

Thomas Lam

AUCTUS ON FRIDAY - 22/11/2024

ADX Energy (ADX AU) C : Portion of deeper target at Welchau flows water on test – Two intervals (total of ~16 m) in the Steinalm formation were...

Auctus Advisors

Thematic Report: AI Wave- Big Tech's Spending Spree

​Big Tech companies like Microsoft are seeing massive revenue growth from AI, with projections of $10 billion in AI revenue by next quarter.

Sudarshan Bhandari

NDA's victory in Maharashtra boosts market sentiment, predicts recovery in corporate earnings, but raises concerns about strain on state finances...

Big Tech companies like Microsoft are seeing massive revenue growth from AI, with projections of $10 billion in AI revenue by next quarter.