CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Equity Bottom-Up

<ul><li>Sales on an upcycle trend, earnings on an upcycle trend, and share price is less volatile relative to its sector </li><li>The company manages highly diversified portfolio of more than 5,000 IT products and solutions and is ready to benefit from ever-changing business landscape by being exposed to several sectors </li><li>Medical &amp; Life Sciences, the higher-margin segment, is a potential catalyst with many clients, new products and lower-cost technologies </li><li>Trades below Asian Info Tech at 17CE* 2.2x PB in line with lower ROE, but offers better dividend yield and VMS has a solid net-cash position </li><li>Risks: Global economic slowdown, pricing pressures from customers</li></ul>* Consensus Estimates

Sales on an upcycle trend, earnings on an upcycle trend, and share price is less volatile relative to its sector The company manages highly diversified portfolio of more than 5,000 IT products and solutions and is ready to benefit from ever-changing business landscape by being exposed to several sectors Medical &amp; Life Sciences, the higher-margin segment, is a potential catalyst with many clients, new products and lower-cost technologies Trades below Asian Info Tech at 17CE* 2.2x PB in line with lower ROE, but offers better dividend yield and VMS has a solid net-cash position Risks: Global economic slowdown, pricing pressures from customers* Consensus Estimates

VMS: Solid Growth in This Info Tech Venture

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

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Sector Plays in a Rising Interest Rate Environment

Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

<ul><li><a href="https://www.smartkarma.com/entities/6703" target="_blank" data-smartkarma-citation="entities:6703:1">Fu Yu Corp Ltd (FUYU SP)</a> is a small (100M USD mkt cap) Singapore based precision plastics solutions provider</li><li>Revenues have been declining for five years as management sheds loss making businesses</li><li>Net Profits have been rising as cost cutting remains effective</li><li>Large exposure to printing/packaging clients and little exposure to automotive</li><li>Company hired IR firm to help its communication with investors, but disclosure still questionable</li><li>MBO or sale of the company cannot be excluded</li><li>Very cheap valuation offsets weak operating trends</li><li>Fu Yu trades at 0.9x book, 3x ex-cash PE, 67% of mkt cap supported by cash and 8% dividend yield</li></ul>

Fu Yu Corp Ltd (FUYU SP) is a small (100M USD mkt cap) Singapore based precision plastics solutions providerRevenues have been declining for five years as management sheds loss making businessesNet Profits have been rising as cost cutting remains effectiveLarge exposure to printing/packaging clients and little exposure to automotiveCompany hired IR firm to help its communication with investors, but disclosure still questionableMBO or sale of the company cannot be excludedVery cheap valuation offsets weak operating trendsFu Yu trades at 0.9x book, 3x ex-cash PE, 67% of mkt cap supported by cash and 8% dividend yield

Discover Singapore: Fu Yu (FUYU SP); 67% of Mkt Cap Is Cash, Trading Below Book and Offers 8% Yield

Tech Sector Led in Sep, Venture now Biggest Stock in the STI Reserve List

Cyclical Sectors Led Market in 2017 YTD; IT Sector in the Lead

Singapore

Venture Corporation Limited provides contract manufacturing services to electronics companies worldwide.  The Company also provides manufacturing, design, engineering, customization, and logistic services.  Venture Corporation trades and manufactures electronics and computer-related products, develops and markets color imaging products for label printing.

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Venture Corp (VMS SP)

VMS: Solid Growth in This Info Tech Venture

Sales on an upcycle trend, earnings on an upcycle trend, and shareprice is less volatile relative to its sector The company manages highly...

A. Stotz Investment Research

Sector Plays in a Rising Interest Rate Environment

Singapore Exchange Ltd (SGX)

Discover Singapore: Fu Yu (FUYU SP); 67% of Mkt Cap Is Cash, Trading Below Book and Offers 8% Yield

Fu Yu Corp Ltd (FUYU SP) is a small (100M USD mkt cap) Singapore based precision plastics solutions provider Revenues have been declining for...

Nicolas Van Broekhoven

Tech Sector Led in Sep, Venture now Biggest Stock in the STI Reserve List

Singapore Exchange Ltd (SGX)

Cyclical Sectors Led Market in 2017 YTD; IT Sector in the Lead

Singapore Exchange Ltd (SGX)

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