In today’s briefing:
- CSI300 Index Rebalance: Big Sector Shift with 28 Changes
- Harding Loevner Global Equity Fund Q1 2022 Letter
- ITD Cementation- Forensic Analysis
CSI300 Index Rebalance: Big Sector Shift with 28 Changes
- There are 28 changes for the Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX) at the upcoming rebalance that will be implemented at the close of trading on 9 June.
- We had forecast nearly all the changes, though the index committee seems to have used discretion in deciding not to add three Distillers to the index, leading to other changes.
- There’s a large sector skew with Industrials, Information Technology and Materials stocks taking 17 more spots in the index, while Health Care and Financials lose 9 and 5 spots respectively.
Harding Loevner Global Equity Fund Q1 2022 Letter
- Harding Loevner has been investing globally in high-quality, growing businesses based on disciplined industry research since 1989.
- Stock markets fell in the quarter, as the world watched in horror Russia’s invasion of Ukraine.
- China-based WuXi Biologics illustrates the perfect storm of macro issues pressuring the share prices of our rapidly growing companies.
- As questions mount whether globalization has reached a tipping point, companies are taking full advantage of the many advances occurring across the industrial automation landscape— propelling leadingp roviders of “Industry 4.0” solutions onto favorable growth paths.
ITD Cementation- Forensic Analysis
- ITD Cementation India (ITCE IN) is one of the players engaged in the construction sector, especially for projects like Metros and Marines.
- Upon analysing the annual reports it was found that the company faces a plethora of forensic alarms.
- This includes re-statement of key line items, high growth of unbilled revenues, cash generation issues among others as highlighted in the insight.
Before it’s here, it’s on Smartkarma
