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

This report looks at A-Share positioning among GEM, Asia-Ex Japan and Global funds.  It serves to highlight the continued growth in both the size and breadth of A-Share holdings and provides detail on the next wave of stocks that are capturing the attention of international investors. Specifically, ownership levels in <a href="https://www.smartkarma.com/entities/4364" target="_blank" data-smartkarma-citation="entities:4364:1">Nari Technology Co Ltd A (600406 CH)</a>, <a href="https://www.smartkarma.com/entities/12310" target="_blank" data-smartkarma-citation="entities:12310:1">Luxshare Precision Industry (002475 CH)</a>, <a href="https://www.smartkarma.com/entities/18441" target="_blank" data-smartkarma-citation="entities:18441:1">Han'S Laser Technology In A (002008 CH)</a>  and <a href="https://www.smartkarma.com/entities/20183" target="_blank" data-smartkarma-citation="entities:20183:1">Sany Heavy Industry Co., (600031 CH)</a> have risen, particularly among Asia-Ex and GEM managers.

This report looks at A-Share positioning among GEM, Asia-Ex Japan and Global funds.  It serves to highlight the continued growth in both the size and breadth of A-Share holdings and provides detail on the next wave of stocks that are capturing the attention of international investors. Specifically, ownership levels in Nari Technology Co Ltd A (600406 CH), Luxshare Precision Industry (002475 CH), Han'S Laser Technology In A (002008 CH)  and Sany Heavy Industry Co., (600031 CH) have risen, particularly among Asia-Ex and GEM managers.

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

In our weekly Shanghai/Shenzhen Connect Snippet series, we aim to help our investors understand the flow of northbound trades via the Shanghai and Shenzhen Connect, as analyzed by our proprietary data engine and highlight interesting trade ideas. We split the stocks eligible for the Shanghai/Shenzhen Connect trade into two groups: stocks with a market capitalization above USD 5 billion, as well as between USD 1 billion and USD 5 billion. In this insight, we will highlight the consecutive three weeks of net outflow from the A-share market. We will also briefly discuss the outflows from <a href="https://www.smartkarma.com/entities/1553" target="_blank" data-smartkarma-citation="entities:1553:1">Kweichow Moutai Co Ltd A (600519 CH)</a> and <a href="https://www.smartkarma.com/entities/7152" target="_blank" data-smartkarma-citation="entities:7152:1">Hangzhou Hikvision (002415 CH)</a>.

In our weekly Shanghai/Shenzhen Connect Snippet series, we aim to help our investors understand the flow of northbound trades via the Shanghai and Shenzhen Connect, as analyzed by our proprietary data engine and highlight interesting trade ideas. We split the stocks eligible for the Shanghai/Shenzhen Connect trade into two groups: stocks with a market capitalization above USD 5 billion, as well as between USD 1 billion and USD 5 billion. In this insight, we will highlight the consecutive three weeks of net outflow from the A-share market. We will also briefly discuss the outflows from Kweichow Moutai Co Ltd A (600519 CH) and Hangzhou Hikvision (002415 CH).

Shanghai/​Shenzhen Connect Snippet: 3 Weeks of Outflows, Moutai, Hikvision (2019-05-24)

Copley Fund Research analyse the holdings of long-only equity funds.  This analysis is taken from our GEM research product, covering 189 global emerging market funds with a combined AUM of $350bn. In this month's Positioning Monthly, we highlight an increasing exposure towards Indonesian Financial stocks, with <a href="https://www.smartkarma.com/entities/484" target="_blank" data-smartkarma-citation="entities:484:1">Bank Rakyat Indonesia Perser (BBRI IJ)</a> and <a href="https://www.smartkarma.com/entities/440" target="_blank" data-smartkarma-citation="entities:440:1">Bank Central Asia (BBCA IJ)</a> the key overweight positions.  We analyse holdings in the food and beverages industry groups as ownership reaches peak levels in both.  Finally, we explore the sharp reversal in <a href="https://www.smartkarma.com/entities/13359" target="_blank" data-smartkarma-citation="entities:13359:1">Lenovo (992 HK)</a> sentiment as more and more GEM funds buy into the stock.

Copley Fund Research analyse the holdings of long-only equity funds.  This analysis is taken from our GEM research product, covering 189 global emerging market funds with a combined AUM of $350bn. In this month's Positioning Monthly, we highlight an increasing exposure towards Indonesian Financial stocks, with Bank Rakyat Indonesia Perser (BBRI IJ) and Bank Central Asia (BBCA IJ) the key overweight positions.  We analyse holdings in the food and beverages industry groups as ownership reaches peak levels in both.  Finally, we explore the sharp reversal in Lenovo (992 HK) sentiment as more and more GEM funds buy into the stock.

GEM Positioning Monthly:  Indonesian Financials, Food & Beverages, Lenovo Sentiment Reversal

In our weekly Shanghai/Shenzhen Connect Ideas series, we aim to help our investors understand the flow of northbound trades via the Shanghai and Shenzhen Connect, as analyzed by our proprietary data engine and highlight interesting trade ideas. We split the stocks eligible for the Shanghai/Shenzhen Connect trade into two groups: stocks with a market capitalization above USD 5 billion, as well between USD 1 billion and USD 5 billion.In this insight, we will highlight the consecutive two weeks of net outflow from the A-share market. We will also briefly discuss Hikvision, Muyuan, Moutai, and Wuliangye.

In our weekly Shanghai/Shenzhen Connect Ideas series, we aim to help our investors understand the flow of northbound trades via the Shanghai and Shenzhen Connect, as analyzed by our proprietary data engine and highlight interesting trade ideas. We split the stocks eligible for the Shanghai/Shenzhen Connect trade into two groups: stocks with a market capitalization above USD 5 billion, as well between USD 1 billion and USD 5 billion.In this insight, we will highlight the consecutive two weeks of net outflow from the A-share market. We will also briefly discuss Hikvision, Muyuan, Moutai, and Wuliangye. 

Shanghai/Shenzhen Connect Ideas: Technologies, Porks and Hard Liquors (2019-05-17)

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

Shanghai Stock Exchange Composite Index / Technical Analysis

The MSCI EM index continues to develop positively from a price perspective and we expect higher prices ahead. China remains leadership -- overweight. At the same time we recommend selectivity in new purchases considering many Chinese equities are extended. In this report we highlight a number of attractive stocks from Chines markets as well as opportunities within Greece, South Africa, India, and Taiwan.

The MSCI EM index continues to develop positively from a price perspective and we expect higher prices ahead. China remains leadership -- overweight. At the same time we recommend selectivity in new purchases considering many Chinese equities are extended. In this report we highlight a number of attractive stocks from Chines markets as well as opportunities within Greece, South Africa, India, and Taiwan.

EM Equity Strategy: Remain Overweight China

China

Kweichow Moutai Co., Ltd. manufactures spirits.  The Company's spirit products are distilled from sorghum and wheat.  Kweichow Moutai markets its products worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Kweichow Moutai (600519 CH)

China A-Shares: The 3rd Wave

This report looks at A-Share positioning among GEM, Asia-Ex Japan and Global funds. It serves to highlight the continued growth in both the size...

Steven Holden

Shanghai/Shenzhen Connect Snippet: 3 Weeks of Outflows, Moutai, Hikvision (2019-05-24)

In our weekly Shanghai/Shenzhen Connect Snippet series, we aim to help our investors understand the flow of northbound trades via the Shanghai and...

Ke Yan, CFA, FRM

GEM Positioning Monthly: Indonesian Financials, Food & Beverages, Lenovo Sentiment Reversal

Copley Fund Research analyse the holdings of long-only equity funds. This analysis is taken from our GEM research product, covering 189 global...

Steven Holden

Shanghai/Shenzhen Connect Ideas: Technologies, Porks and Hard Liquors (2019-05-17)

In our weekly Shanghai/Shenzhen Connect Ideas series, we aim to help our investors understand the flow of northbound trades via the Shanghai and...

Ke Yan, CFA, FRM

EM Equity Strategy: Remain Overweight China

The MSCI EM index continues to develop positively from a price perspective and we expect higher prices ahead. China remains leadership --...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

China A-Shares: The 3rd Wave

This report looks at A-Share positioning among GEM, Asia-Ex Japan and Global funds. It serves to highlight the continued growth in both the size...

Steven Holden

Shanghai/​Shenzhen Connect Snippet: 3 Weeks of Outflows, Moutai, Hikvision (2019-05-24)

In our weekly Shanghai/Shenzhen Connect Snippet series, we aim to help our investors understand the flow of northbound trades via the Shanghai and...

Ke Yan, CFA, FRM

GEM Positioning Monthly: Indonesian Financials, Food & Beverages, Lenovo Sentiment Reversal

Copley Fund Research analyse the holdings of long-only equity funds. This analysis is taken from our GEM research product, covering 189 global...

Steven Holden

Shanghai/Shenzhen Connect Ideas: Technologies, Porks and Hard Liquors (2019-05-17)

In our weekly Shanghai/Shenzhen Connect Ideas series, we aim to help our investors understand the flow of northbound trades via the Shanghai and...

Ke Yan, CFA, FRM

EM Equity Strategy: Remain Overweight China

The MSCI EM index continues to develop positively from a price perspective and we expect higher prices ahead. China remains leadership --...

Vermilion Research

Shanghai/Shenzhen Connect Snippet: 3 Weeks of Outflows, Moutai, Hikvision (2019-05-24)