CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Thematic (Sector/Industry)

<ul>
<li>We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology</li>
<li>Eight stock remains, and six stocks added to our portfolio</li>
<li>Since its inception, it has generated a before-fee total return of 96% versus the MSCI Asia ex Japan of 48%</li>
</ul>


We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology
Eight stock remains, and six stocks added to our portfolio
Since its inception, it has generated a before-fee total return of 96% versus the MSCI Asia ex Japan of 48%


Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

Stock Exchange of Thailand SET 50 Index / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/stock-exchange-of-thailand-set-index" target="_blank" data-smartkarma-citation="entities:22915:1" rel="noopener">Thailand SET Index (SET INDEX)</a> is a composite index which represents the price movement for all common stocks trading on the SET.</li>
<li>SET50 and SET100 indices are calculated, respectively, from the stock prices of the top 50 and 100 listed companies on SET in terms of market capitalization and liquidity.</li>
<li>In this insight, we take a look at the selection criteria and the historical price performance of past Rebalance Events.</li>
</ul>



Thailand SET Index (SET INDEX) is a composite index which represents the price movement for all common stocks trading on the SET.
SET50 and SET100 indices are calculated, respectively, from the stock prices of the top 50 and 100 listed companies on SET in terms of market capitalization and liquidity.
In this insight, we take a look at the selection criteria and the historical price performance of past Rebalance Events.


Thailand SET50 and SET100: Quiddity Index Rebalance Primer

<ul>
<li>We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology</li>
<li>Six stock remains, and eight stocks added to our portfolio</li>
<li>Since its inception, it has generated a before-fee total return of 93% versus the MSCI Asia ex Japan of 55%</li>
</ul>


We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology
Six stock remains, and eight stocks added to our portfolio
Since its inception, it has generated a before-fee total return of 93% versus the MSCI Asia ex Japan of 55%


Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>Cheaper than AOT while both are correlated to the number of tourists' arrival in Thailand.</li>
<li>An increase in the per customer's spending seems to be overlooked by the market. </li>
<li>A potential increase in the number of visitors to the stores could provide another booster to the share price. </li>
</ul>


Cheaper than AOT while both are correlated to the number of tourists' arrival in Thailand.
An increase in the per customer's spending seems to be overlooked by the market. 
A potential increase in the number of visitors to the stores could provide another booster to the share price. 


Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We are starting to see early signs of a potential bottom on MSCI EM (EEM-US).</li>
<li>Specifically, the EEM-US has reversed topside its 6-month downtrend. If MSCI EM has indeed bottomed, we want to be buying the leaders; that is where this report comes in.</li>
<li>Specific themes include attractive opportunities in India and Thailand, and also many in Taiwan and South Korea. Attractive Sectors include Energy, Financials, Materials, and Industrials.</li>
</ul>


We are starting to see early signs of a potential bottom on MSCI EM (EEM-US).
Specifically, the EEM-US has reversed topside its 6-month downtrend. If MSCI EM has indeed bottomed, we want to be buying the leaders; that is where this report comes in.
Specific themes include attractive opportunities in India and Thailand, and also many in Taiwan and South Korea. Attractive Sectors include Energy, Financials, Materials, and Industrials.


Finding Leadership Within Emerging Markets

Thailand

Bangkok Expressway and Metro PCL is a transportation company. The Company combines toll and metro line networks. Bangkok Expressway and Metro is based in Thailand.

Bangkok Aviation Fuel Services Public Company Limited is provider of aviation fuel services including aviation depot and aircraft refueling services at the Bangkok International Airport (Donmuang) and the New Bangkok International Airport at Suvarnabhumi.

Namyong Terminal PCL is a roll on roll off terminal operator. The Company offers terminal services, car storage areas and warehousing services in Thailand.

Bangkok Airways Company Limited offers air transportation services. The Company operates flights and airports to various resort destinations in Thailand, Myanmar, Laos, Cambodia, Vietnam, Malaysia, Singapore, China, and Japan.

BTS Group Holdings PCL is primarily in the business of Mass Transit.  The Company operates Bangkok's BTS SkyTrain system and the Bus Rapid Transit (BRT) System. BTS Group Holdings PCL is also involved in Media & Advertising, Property Development, and Services business.

Asia Aviation PCL owns a budget airline.  The airline offers low fare flights, online booking, hospitality packages, and courier and cargo services. Asia Aviation serves travelers throughout Asia, the Middle East, and Europe.

Regional Container Lines Public Company Limited provides ocean freight transportation services. The Company owns and operates a fleet of container vessels covering more than 70 destinations in Asia, Australia, and the Middle East.

BTS Rail Mass Transit Growth Infrastructure Fund is a closed-end fund incorporated in Thailand. The Fund's objective is to achieve income. The Fund invests in the Core BTS Sky Train System from BTSC, which includes the Core Sukhumvit Line & the Core Silom Line.

BTS Rail Mass Transit Growth I (BTSGIF TB)

JWD Infologistics PCL is an information technology company. The Company focuses on maximizing the benefits of managing supply chains and fully integrated logistics solutions. JWD Infologistics operates in Southeast Asia

Transurban Group owns and operates urban toll road networks. The Company has core capabilities in network planning and forecasting, operations and customer management, project development and delivery, technology application, and community engagement. Transurban operates in Australia and North America.

Shanghai International Airport Co., Ltd. operates Pudong Airport and Hongquiao airport in Shanghai.   The Company provides a full range of services including air traffic control, terminal management, cargo handling, advertising, space rental, and other related services.

Shanghai International Airport (600009 CH)

Ningbo Port Company Limited primarily provides container, iron ore, crude oil and other cargo handling and related services. The Company also provides integrated logistics and other businesses.

Shanghai International Port (Group) Co., Ltd is a holding company that owns interests in container and port service companies.

Shanghai International Port Group (600018 CH)

International Container Terminal Services, Inc. provides containerized cargo handling services. The Company also manages and operates the Manila International Container Terminal and port.

Atlantia SpA manages transport infrastructures. The Company provides electronic tolling systems, airport automation, and traffic information services. Atlantia manages toll road networks in Italy, Brazil, Chile, India and Poland as well as airports in Rome.

Aena S.A. manages general interest airports and heliports in Spain. The Company, through its subsidiaries, also participates in the management of airports abroad.

Aeroports de Paris (ADP) manages all the civil airports in the Paris area.  The Company also develops and operates light aircraft aerodromes.  ADP offers air transport related services, and business services such as office rental.

Getlink S.E. provides transport support services. The Company operates mobility infrastructures such as cross-channel transport networks, rail freight, and tunnels. Getlink serves customers in France and the United Kingdom.

Grupo Aeroportuario del Sureste S.A.B. de C.V. operates airports in Mexico.  The Company holds 50 year concessions, beginning in 1998, to manage airports in Cancun, Cozumel, Merida, Oaxaca, Veracruz, Huatulco, Tapachula, Minatitlan, and Villahermosa.

Airports of Thailand Public Company Ltd. operates the Bangkok International Airport (Don Muang) and the New Bangkok International Airport (Suvarnabhumi).. The Company also operates provincial airports in Chiang Mai, Chiang Rai, Hat Yai, and Phuket.

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Airports of Thailand (AOT TB)

The Stocks to Own in Asia – Vol. 39

We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology. Six stock remains, and eight stocks added to our portfolio.

A. Stotz Investment Research

Thailand SET50 and SET100: Quiddity Index Rebalance Primer

From the end of the Reference Period to the Inclusion/Exclusion event, the ADDs have outperformed the index and the DELs have underperformed the...

Janaghan Jeyakumar, CFA

The Stocks to Own in Asia – Vol. 38

We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology. Portfolio changes: Six stock remains, and eight new join...

A. Stotz Investment Research

CP All: All Good but Need More Visitors

CPALL share price performance this year has not been correlated to the business performance that has performed better than last year as it benefits...

Henry Soediarko

Finding Leadership Within Emerging Markets

We are starting to see early signs of a potential bottom on $EEM. Specifically, the EEM has reversed topside its 6-month downtrend. If EEM has...

Vermilion Research

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