Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Dr. Manishi Raychaudhuri, with nearly three decades of experience in Asian Equities in the roles of APAC Head of Equity Research, Asian Equity Strategist and Analyst across various sectors, brings a unique cross border and cross-industry perspective to the process of investment strategy and asset allocation. He worked in senior leadership roles at BNP Paribas and UBS across Mumbai and Hong Kong. Prior to UBS, he was with ICICI Securities, then a JV with JP Morgan.

Manishi marries top-down macro-economic outlook with bottom-up sector themes to create unique alpha generative portfolios for clients. Manishi's Asia ex Japan equity model portfolio consistently generated significantly higher returns than the benchmark MSCI index over a decade. In addition to the macro strategy product, Manishi regularly publishes on key thematic ideas, creating custom baskets for investors.

A frequent participant in discussions in the print and electronic media, Manishi has been frequently interviewed by Bloomberg TV, CNBC, CNBC Arabia, Asharq Bloomberg, CNBC TV18, ET Now, NDTV Profit and several other channels. He has been widely quoted in Financial Times, Thomson Reuters, Wall Street Journal, South China Morning Post, Barron's, Forbes India, The Economic Times, Business Standard and other leading publications.

Chief Executive Officer

Asian Equities: US Exceptionalism Vs Asian Valuation Allure

Asian Equities: Preserving Capital in 2025 – Parallels and Contrasts from 2018

Asian Equities: Asia's Robust Dividend Yielders

Asian Equities: It's China's Year - Our "China Twelve" In the Year of the Snake

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Cross Asset Strategy

Multiple Countries / Cross Asset Strategy

<ul>
<li>The USD is moderating, not just against developed market currencies, but also against Asian currencies. Usually, Asian currency revival is a lead indicator of acceleration of FII flows in Asia. </li>
<li>Our analysis of cumulative FII sales as proportion of market cap shows that Korea and Indonesia are oversold. India is almost there, but not quite. HK/China is still under-owned. </li>
<li>Taiwan and Thailand, despite large FII selling over an extended period, are still not oversold. Both markets face risks from the tariff war and could face more FII selling pressure.</li>
</ul>


The USD is moderating, not just against developed market currencies, but also against Asian currencies. Usually, Asian currency revival is a lead indicator of acceleration of FII flows in Asia. 
Our analysis of cumulative FII sales as proportion of market cap shows that Korea and Indonesia are oversold. India is almost there, but not quite. HK/China is still under-owned. 
Taiwan and Thailand, despite large FII selling over an extended period, are still not oversold. Both markets face risks from the tariff war and could face more FII selling pressure.


Asian Equities: The Currency Tailwind - Where Would FII Flows Gravitate?