In today’s briefing:
- Virtus Health: How BGH’s Offer Plays Out From Here
- Huons Global (084110 KS): Eyeing on the New Business Areas to Secure Long-Term Growth Momentum
- Pre-IPO OrbusNeich Medical Group – The Industry, the Business and the Concerns
- Carillon Eagle Growth & Income Fund Q1 2022 Commentary
- Carillon Clarivest International Fund Q1 2022 Commentary
- Carillon Clarivest International Stock Fund Q1 2022 Commentary
- Carillon Scout Small Cap Fund Q1 2022 Commentary
- Carillon Clarivest Capital Appreciation Fund Q1 2022 Commentary
Virtus Health: How BGH’s Offer Plays Out From Here
- BGH played a shrewd game. It bumped its Offer to A$8.15, matching CapVest’s Scheme price. With BGH (then) holding 22.38% of shares out, CapVest folded its tent.
- As CapVest was not returning calls, Virtus Health (VRT AU) commenced discussions with BGH and ultimately reversed course and recommended BGH’s Offer.
- BGH now has 71.63% of the voting power, edging towards the 90% threshold, following which a special fully franked dividend will be paid.
Huons Global (084110 KS): Eyeing on the New Business Areas to Secure Long-Term Growth Momentum
- Huons Global (084110 KS) is focusing on new growth drivers such as health functional food, medical devices, and research collaboration to accelerate its earnings further.
- Huons’ health functional food brand, Menolacto has become Korea’s no. 1 brand for menopausal lactic acid bacteria and generated cumulative sales of KRW64 billion within two years of its launch.
- Through external research collaboration and developing its own pipeline, Huons has a rich pipeline of new products, including new chemical entities, medical devices, and functional foods for the domestic market.
Pre-IPO OrbusNeich Medical Group – The Industry, the Business and the Concerns
- OrbusNeich Medical Group (NEICHZ HK) has a rich pipeline with a leadership position in the PCI balloon markets.
- Its global business layout would also help the Company “hedge” the negative domestic policy impact or regulation changes.
- However, the fierce competition, market pattern, industry characteristics, centralized procurement and other concerns should not be neglected.
Carillon Eagle Growth & Income Fund Q1 2022 Commentary
- The Carillon Family of Funds spans a range of investment objectives and asset classes designed for long-term investors.
- Along with the spike in oil prices, energy stocks performed best during the quarter, followed by more defensive and countercyclical sectors like utilities and consumer staples.
- As we look toward the rest of 2022, we continue to see a somewhat balanced outlook for equity markets returns.
Carillon Clarivest International Fund Q1 2022 Commentary
- The Carillon Family of Funds spans a range of investment objectives and asset classes designed for long-term investors.
- The U.S. stock and bond markets appear to be conveying different assessments of the outlook, leaving investors to decide which view will prevail.
- Focusing on how it affects markets, the war also is a concern for global growth and a source of volatility as the highly uncertain situation evolves.
Carillon Clarivest International Stock Fund Q1 2022 Commentary
- The Carillon Family of Funds spans a range of investment objectives and asset classes designed for long-term investors.
- The U.S. stock and bond markets appear to be conveying different assessments of the outlook, leaving investors to decide which view will prevail.
- The situation could favor U.S. stocks, as they are more insulated than their European counterparts from energy price spikes and the direct impacts of the war and its economic ramifications.
Carillon Scout Small Cap Fund Q1 2022 Commentary
- The Carillon Family of Funds spans a range of investment objectives and asset classes designed for long-term investors.
- Inflation concerns and accelerating expectations of interest rate hikes by the U.S. Federal Reserve sent equity markets in a downward spiral to start the new year.
- Investors continued to favor value stocks over growth stocks as small-cap value outperformed small-cap growth by more than 10% during the quarter.
Carillon Clarivest Capital Appreciation Fund Q1 2022 Commentary
- The Carillon Family of Funds spans a range of investment objectives and asset classes designed for long-term investors.
- Q1 2022 was marred by tragedy on a global scale and investors encountered three months of volatile trading induced by persistently high inflation, rising rates, and Russia’s invasion of Ukraine.
- Over the last 12 months many investors anchored to the long-term growth trends while discounting value’s recent strength, and more importantly the reasons behind it.
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