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

The Asia HY Trade Book for the month of September includes a summary of our recommendations, as well as our high-conviction ideas. The report also features relative-value charts and lists of the bonds in the Lucror Asia HY index.

  The Asia HY Trade Book for the month of September includes a summary of our recommendations, as well as our high-conviction ideas. The report also features relative-value charts and lists of the bonds in the Lucror Asia HY index. 

Asia HY Trade Book - September 2021 - Lucror Analytics

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Last Week in Event SPACE: SingTel, Bharti Airtel, Kerry Logistics, Milton, Jardine Matheson

China Specialist, Auto and Industrial Specialist

Victoria Li

Thematic (Sector/Industry)

Unfortunately, supply chain of auto chips turned tight again in August, which might have led to weak retail sales. Although the last week data of August is not available yet, CPCA believed it would decline.Looking forward, the uncertainty of auto chips supply would remain a main interruption in auto sector in 2021-2022. Because underinvestment in auto chip capacity, rising risk of new vaccine-resistant Covid variants would take time to be released.We expect share performance of  auto stocks remain under pressure until availability of chips getting improved. Focus on long-term winner candidates, such as Xpeng. We also believe Geely and Xpeng would gain positive momentums when their new models (Zeekr 001, Xpeng P5) start delivery in 4Q, for which the companies have ordered plenty components in advance.

Unfortunately, supply chain of auto chips turned tight again in August, which might have led to weak retail sales. Although the last week data of August is not available yet, CPCA believed it would decline.Looking forward, the uncertainty of auto chips supply would remain a main interruption in auto sector in 2021-2022. Because underinvestment in auto chip capacity, rising risk of new vaccine-resistant Covid variants would take time to be released.We expect share performance of  auto stocks remain under pressure until availability of chips getting improved. Focus on long-term winner candidates, such as Xpeng. We also believe Geely and Xpeng would gain positive momentums when their new models (Zeekr 001, Xpeng P5) start delivery in 4Q, for which the companies have ordered plenty components in advance. 

China Auto: Chip Shortage Getting Worse and Might Last Longer than Expected

In this month’s "In-Focus" section, we discuss variable interest entities (VIEs) in China, including recent developments in China and the US that may complicate the future use of VIEs. We also give an overview of recent bond defaults. 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 variable interest entities (VIEs) in China, including recent developments in China and the US that may complicate the future use of VIEs. We also give an overview of recent bond defaults.   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 - Chinese Variable Interest Entities - Lucror Analytics

Hong Kong

Geely Automobile Holdings Limited operates as a passenger vehicles manufacturing company. The Company provides passenger vehicles development, manufacturing, sales, and other services. Geely Automobile Holdings also exports passenger vehicles.

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Geely Auto (175 HK)

Asia HY Trade Book - September 2021 - Lucror Analytics

The Asia HY Trade Book for the month of September includes a summary of our recommendations, as well as our high-conviction ideas. The report...

Lucror Analytics

Asia HY Trade Book - September 2021 - Lucror Analytics

The Asia HY Trade Book for the month of September includes a summary of our recommendations, as well as our high-conviction ideas. The report...

Lucror Analytics

Last Week in Event SPACE: SingTel, Bharti Airtel, Kerry Logistics, Milton, Jardine Matheson

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

China Auto: Chip Shortage Getting Worse and Might Last Longer than Expected

Unfortunately, supply chain of auto chips turned tight again in August, which might have led to weak retail sales. Although the last week data of...

Victoria Li

Asia HY Monthly - Chinese Variable Interest Entities - Lucror Analytics

In this month’s "In-Focus" section, we discuss variable interest entities (VIEs) in China, including recent developments in China and the US that...

Lucror Analytics

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