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>North American allocations continue to trend higher, hitting a record average weight of 58.1% across the 358 global funds in our analysis</li>
<li>North America has consistently stolen market share from other key global regions, most notably Developed Market Europe, where average fund weights have hit all-time lows of 24.24%</li>
<li>Sectors driving allocations higher are led by Energy, Health Care and Industrials with active rotation in to all 3, whilst Consumer Staples have seen signs of investor fatigue.</li>
</ul>


North American allocations continue to trend higher, hitting a record average weight of 58.1% across the 358 global funds in our analysis
North America has consistently stolen market share from other key global regions, most notably Developed Market Europe, where average fund weights have hit all-time lows of 24.24%
Sectors driving allocations higher are led by Energy, Health Care and Industrials with active rotation in to all 3, whilst Consumer Staples have seen signs of investor fatigue.


North America Hits New Highs as Global Rotation Continues

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

Thematic (Sector/Industry)

<ul>
<li>Semiconductor revenues continue to fall. which appears to be a repeat of the collapse in 2019</li>
<li>Spot market prices, a leading indicator, are soft for both DRAM and NAND flash</li>
<li>It is likely that semiconductor revenues will end the year by returning to the trendline of their historical growth of 3.9%</li>
</ul>


Semiconductor revenues continue to fall. which appears to be a repeat of the collapse in 2019
Spot market prices, a leading indicator, are soft for both DRAM and NAND flash
It is likely that semiconductor revenues will end the year by returning to the trendline of their historical growth of 3.9%


Semiconductors Just Beginning a Long Slide

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

<ul><li>New U.S. export restrictions on certain microchips used for machine learning could distrupt China’s development of autonomous driving technology and data centers, market insiders fear</li><li>The export restrictions on Nvidia’s A100 and forthcoming H100 graphics processing units (GPU) will affect Chinese carmakers’ research into autonomous driving</li><li>The Nvidia A100 is a GPU chip with 7-nanometer nodes while the H100 is a model with 4-nanometer nodes that is expected to hit the market this quarter</li></ul>

New U.S. export restrictions on certain microchips used for machine learning could distrupt China’s development of autonomous driving technology and data centers, market insiders fearThe export restrictions on Nvidia’s A100 and forthcoming H100 graphics processing units (GPU) will affect Chinese carmakers’ research into autonomous drivingThe Nvidia A100 is a GPU chip with 7-nanometer nodes while the H100 is a model with 4-nanometer nodes that is expected to hit the market this quarter

How New U.S. Chip Restrictions Could Hit China’s Smart Car and Cloud Firms

<ul><li>Steel / Cover Story: China’s steel industry at a crossroads as long winter looms</li><li>Covid-19 / 33 cities in China are under some sort of lockdown</li><li>Hack / China accuses the U.S. of hacking a leading aerospace university</li></ul>

Steel / Cover Story: China’s steel industry at a crossroads as long winter loomsCovid-19 / 33 cities in China are under some sort of lockdownHack / China accuses the U.S. of hacking a leading aerospace university

CX Daily: China’s Steel Industry at a Crossroads as Long Winter Looms

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Advanced Micro Devices / Equity Bottom-Up

<ul><li>Advanced Micro Devices continued its strong execution across the board and delivered an all-around beat in the recent result driven by its premier product line, and diverse business strategy.</li><li>The management also observed a significant year-over-year rise for their networking and FPGA solutions, which are the best in the business, with cloud and financial customers.</li><li>During the quarter, they also launched Ryzen Embedded R-Series system-on-chips processors in order to broaden their product line and target emerging markets.</li></ul>

Advanced Micro Devices continued its strong execution across the board and delivered an all-around beat in the recent result driven by its premier product line, and diverse business strategy.The management also observed a significant year-over-year rise for their networking and FPGA solutions, which are the best in the business, with cloud and financial customers.During the quarter, they also launched Ryzen Embedded R-Series system-on-chips processors in order to broaden their product line and target emerging markets.

Advanced Micro Devices: The New Ryzen Embedded R-Series Launch & Other Drivers

United States

Advanced Micro Devices, Inc. (AMD) produces semiconductor products and devices. The Company offers products such as microprocessors, embedded microprocessors, chipsets, graphics, video and multimedia products and supplies it to third-party foundries, as well as provides assembling, testing, and packaging services. AMD serves customers worldwide.

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Advanced Micro Devices (AMD US)

North America Hits New Highs as Global Rotation Continues

North American allocations among active Global investors hit record highs, driven by Energy, Health Care and Industrials rotation.

Steven Holden

Semiconductors Just Beginning a Long Slide

The semiconductor market is falling and is likely to continue to drop through the end of the year. This presents an opportunity for shorts.

Jim Handy

How New U.S. Chip Restrictions Could Hit China’s Smart Car and Cloud Firms

New U.S. export restrictions on certain microchips used for machine learning could distrupt China’s development of autonomous driving technology...

Caixin Global

CX Daily: China’s Steel Industry at a Crossroads as Long Winter Looms

Cover Story: China’s steel industry at a crossroads as long winter looms. 33 cities in China are under some sort of lockdown

Caixin Global

Advanced Micro Devices: The New Ryzen Embedded R-Series Launch & Other Drivers

Advanced Micro Devices continued its strong execution across the board and delivered an all-around beat in the recent result driven by its premier...

Baptista Research

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