In today’s briefing:
- Spicy Hot: India Branded Staples in Limelight – Acquisitions & Fresh Forays
- Taiwan Semiconductors: Value Funds Drive Underweight
Spicy Hot: India Branded Staples in Limelight – Acquisitions & Fresh Forays
- India’s packaged and processed food segment is in limelight with leading consumer companies launching/expanding their branded staples portfolio, and recent acquisitions in the branded spice segment.
- Reliance retail launched packaged staples and food brand Independence; a potential competition to Adani Wilmar, ITC Ltd, and Tata Consumer that have been expanding in this space.
- Dabur (DABUR IN) had announced acquisition of a 51% stake in veteran spice brand Badshah Masala in October this year, now followed by Wipro Consumer’s takeover of spice player Nirapara.
Taiwan Semiconductors: Value Funds Drive Underweight
- GEM funds reduce exposure to Taiwanese Semiconductors, switching from overweight to their largest underweight in over a decade.
- Absolute positioning levels still high, with Taiwanese Semiconductors the largest country/industry allocation for 61% of the managers in our analysis and a top 3 allocation for 78%.
- Value investors moved first, switching from near equal weight in early 2020 to -1.95% underweight today. All Style groups are now positioned underweight the MSCI EM benchmark, on average.
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