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

<p>In this report, we highlight how Russia has taken over from India as the largest overweight country holding among global emerging market fund managers.  Although still a key country position, India has witnessed a certain degree of investor flight after the election euphoria of 2014/15, with <a href="https://www.smartkarma.com/entities/768" target="_blank" data-smartkarma-citation="entities:768:1">Axis Bank Ltd (AXSB IN)</a>, <a href="https://www.smartkarma.com/entities/216" target="_blank" data-smartkarma-citation="entities:216:1">Tata Motors Ltd (TTMT IN)</a> and <a href="https://www.smartkarma.com/entities/17910" target="_blank" data-smartkarma-citation="entities:17910:1">Lupin Ltd (LPC IN)</a> coming under pressure.  Opposing this is a renewed interest in Russia, with fund managers willing to allocate significantly more than the benchmark MSCI EM Index.  Key stocks have been <a href="https://www.smartkarma.com/entities/24142" target="_blank" data-smartkarma-citation="entities:24142:1">Sberbank of Russia PJSC (SBER LI)</a> and <a href="https://www.smartkarma.com/entities/25278" target="_blank" data-smartkarma-citation="entities:25278:1">X5 Retail Group NV (FIVE LI)</a></p>

In this report, we highlight how Russia has taken over from India as the largest overweight country holding among global emerging market fund managers.  Although still a key country position, India has witnessed a certain degree of investor flight after the election euphoria of 2014/15, with Axis Bank Ltd (AXSB IN), Tata Motors Ltd (TTMT IN) and Lupin Ltd (LPC IN) coming under pressure.  Opposing this is a renewed interest in Russia, with fund managers willing to allocate significantly more than the benchmark MSCI EM Index.  Key stocks have been Sberbank of Russia PJSC (SBER LI) and X5 Retail Group NV (FIVE LI)

Russia Replaces India as Top EM Overweight

United Kingdom

Gazprom PAO operates gas pipeline systems, produces and explores gas, and transports high pressure gas in the Russian Federation and European countries. The Company is also engaged in oil production, oil refining, gas storage, and electric and heat energy generation.

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Gazprom PJSC (OGZD LI)

Russia Replaces India as Top EM Overweight

In this report, we highlight how Russia has taken over from India as the largest overweight country holding among global emerging market fund...

Steven Holden

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