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>As interest in the Emerging Markets Ex-China space grows, we have sourced data on 30 actively managed strategies that provide filings for us to analyse.</li>
<li>Combined AUM has gradually increased among all strategies to $1.67bn.  Remains a long behind the $17.6bn AUM of the iShares MSCI EM Ex-China ETF</li>
<li>Developed markets and Argentina O/W.  India, Saudi Arabia, and Taiwan U/W.  TSMC universally owned, SK Hynix and Samsung prominent.  POSCO unloved.</li>
</ul>


As interest in the Emerging Markets Ex-China space grows, we have sourced data on 30 actively managed strategies that provide filings for us to analyse.
Combined AUM has gradually increased among all strategies to $1.67bn.  Remains a long behind the $17.6bn AUM of the iShares MSCI EM Ex-China ETF
Developed markets and Argentina O/W.  India, Saudi Arabia, and Taiwan U/W.  TSMC universally owned, SK Hynix and Samsung prominent.  POSCO unloved.


EM Ex-China: First Look at Active Positioning

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

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Oct 25th which has an aggregated holding worth USD520.0bn.</li>
<li>We estimate that foreign flows to be outflows of USD442mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Sk Hynix, Samsung Electronics, Kia.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Oct 25th which has an aggregated holding worth USD520.0bn.
We estimate that foreign flows to be outflows of USD442mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Sk Hynix, Samsung Electronics, Kia.


KRX Foreign Holding Weekly (Oct 25th): Sk Hynix, Samsung Electronics, Kia

Global Head of Research & Head of Europe, Lucror Analytics

Felix Fischer

Global Head of Research & Head of Europe

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

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:
<ol>
<li><a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" rel="noopener">SK Hynix</a></li>
<li><a href="https://www.smartkarma.com/entities/adani-transmission-ltd" target="_blank" rel="noopener">Adani Transmission</a></li>
<li><a href="https://www.smartkarma.com/entities/adani-green-energy-ltd" target="_blank" rel="noopener">Adani Green Energy</a></li>
<li><a href="https://www.smartkarma.com/entities/cifi-holdings-group-co-ltd" target="_blank" rel="noopener">CIFI Holdings</a></li>
<li><a href="https://www.smartkarma.com/entities/rakuten-group-inc" target="_blank" rel="noopener">Rakuten</a></li>
</ol>
and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:

SK Hynix
Adani Transmission
Adani Green Energy
CIFI Holdings
Rakuten

and more...

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.
<ul>
<li><a href="#lucror-entity-182" target="_blank" rel="noopener">Sands China</a></li>
<li><a href="#lucror-entity-16955" target="_blank" rel="noopener">SK Hynix</a></li>
</ul>

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

Sands China
SK Hynix


Morning Views Asia: Sands China, SK Hynix

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Oct 18th which has an aggregated short interest worth USD5.0bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Samsung Electronics, Sk Hynix, KB Financial, Shinhan Group, Hana Financial.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Oct 18th which has an aggregated short interest worth USD5.0bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Samsung Electronics, Sk Hynix, KB Financial, Shinhan Group, Hana Financial.


KRX Short Interest Weekly (Oct 18th): Samsung Electronics, Sk Hynix, KB Financial, Shinhan Group

South Korea

SK Hynix Inc. provides products and services for the electronic components industry. The Company manufactures semiconductors, such as dynamic random access memory (DRAM), NAND flash memory, and static random access memory (SRAM) chips.

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SK Hynix (000660 KS)

EM Ex-China: First Look at Active Positioning

India becomes key underweight among active Emerging Market Ex-China funds. Argentina, Mexico and Developed Markets strategic overweights.

Steven Holden

KRX Foreign Holding Weekly (Oct 25th): Sk Hynix, Samsung Electronics, Kia

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Sk Hynix, Samsung Electronics, Kia.

Ke Yan, CFA, FRM

Weekly Wrap - 25 Oct 2024

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics

Morning Views Asia: Sands China, SK Hynix

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

KRX Short Interest Weekly (Oct 18th): Samsung Electronics, Sk Hynix, KB Financial, Shinhan Group

We analyzed KRX short interest report for the past week and highlighted short interest changes in Samsung Electronics, Sk Hynix, KB Financial,...

Ke Yan, CFA, FRM

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52-week Range

Market Cap (USDm)

P/E

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