Global Mobility/Transport, Equity Long-Short

Mohshin Aziz

Capital market veteran with 22 years experience with stints as an analyst (sell-side & buyside), investor relations and fund manager. 

My key expertise in the aviation sector. My definition of "aviation" includes airlines, travel tours, airports, airport retail & services, OEMs, online travel agents, aircraft lessors, air cargo/logistics, etc.   

I have an active watchlist consisting 190 companies across 41 countries. The aviation sector is highly cyclical and I am constantly evaluating signals to uncover attractive trade opportunities.

Equity Bottom-Up

Taiwan High Speed Rail / Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/taiwan-high-speed-rail-corp" target="_blank" data-smartkarma-citation="entities:1194:1" rel="noopener">Taiwan High Speed Rail (2633 TT)</a> (THSR) solid traffic growth and high utilization rate are driving strong profits and cashflows which will be mostly paid out as dividends <em><strong>   </strong></em>   </li>
<li>We view THSR as a government-backed perpetual bond masked as equity as it has a minimum profit guarantee, a firm dividend mandate, and impetus to disperse excess cash to shareholders </li>
<li>The current yield margin against the 10-year bond is the widest since its IPO and is forecasted to widen further with strong profit growth. Attractive for alternative fixed-income investors </li>
</ul>



Taiwan High Speed Rail (2633 TT) (THSR) solid traffic growth and high utilization rate are driving strong profits and cashflows which will be mostly paid out as dividends       
We view THSR as a government-backed perpetual bond masked as equity as it has a minimum profit guarantee, a firm dividend mandate, and impetus to disperse excess cash to shareholders 
The current yield margin against the 10-year bond is the widest since its IPO and is forecasted to widen further with strong profit growth. Attractive for alternative fixed-income investors 


Taiwan High-Speed Rail (2633 TT): Better than a Government Bond