Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

In this month’s “In-Focus” section, we discuss Corporate Governance in Chinese Companies. Specifically, we highlight: [1] the nascent development of the Chinese corporate governance regime; [2] the lack of strong external examination/review; [3] different types of Chinese public companies; and [4] Lucror’s approach to assessing corporate governance. The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the "In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market.

   In this month’s “In-Focus” section, we discuss Corporate Governance in Chinese Companies. Specifically, we highlight: [1] the nascent development of the Chinese corporate governance regime; [2] the lack of strong external examination/review; [3] different types of Chinese public companies; and [4] Lucror’s approach to assessing corporate governance.    The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the "In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market. 

Asia HY Monthly - Corporate Governance In Chinese Companies - Lucror Analytics

Founder and Strategist, Entext Economics & Strategy

Sean Maher

Founder and Strategist

Entext Economics & Strategy

Entext provides institutional investors with distinctive, actionable asset allocation and thematic research, which typically challenges the market consensus. Our clients range from credit, equity and multi-asset hedge and pension funds to family offices and sovereign funds. 
 
We focus on identifying key inflection points in macro data and relative asset performance amid the 'groupthink'  and confirmation bias that characterizes most investment bank analysis.

Macro Driven Investment Insight

Macroeconomics

<ul>
<li> Simultaneous deleveraging in China and protectionism/fiscal expansion in the US would shift the longstanding correlation between US inflation and Chinese growth expectations.</li>
<li>Aggregate debt growth in China exceeded nominal GDP growth by 1.3ppts in 2017 so deleveraging has not yet begun, but looks imminent as regulatory pressure intensifies.</li>
<li>The takeover of Anbang reflects a increasingly comprehensive attempt to remove opaque funding channels and implicit government guarantees that have distorted…</li>
</ul>


 Simultaneous deleveraging in China and protectionism/fiscal expansion in the US would shift the longstanding correlation between US inflation and Chinese growth expectations.
Aggregate debt growth in China exceeded nominal GDP growth by 1.3ppts in 2017 so deleveraging has not yet begun, but looks imminent as regulatory pressure intensifies.
The takeover of Anbang reflects a increasingly comprehensive attempt to remove opaque funding channels and implicit government guarantees that have distorted…


Xi and Trump Policy Priorities Imply US Inflation to Diverge From Chinese Growth

China

China Aoyuan Group Limited operates as a property development company. The Company develops retails shops and integrated residential projects. China Aoyuan Group conducts businesses domestically and internationally.

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China Aoyuan Property (3883 HK)

Asia HY Monthly - Corporate Governance In Chinese Companies - Lucror Analytics

In this month’s “In-Focus” section, we discuss Corporate Governance in Chinese Companies. Specifically, we highlight: [1] the nascent development...

Lucror Analytics

Xi and Trump Policy Priorities Imply US Inflation to Diverge From Chinese Growth

Simultaneous deleveraging in China and protectionism/fiscal expansion in the US would shift the longstanding correlation between US inflation and...

Sean Maher

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)