Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>Chips &amp; Memory is now the largest theme in active Global funds, at 9.70% of the average portfolio versus 8.96% for Hyperscalers.</li>
<li>AI Build-out accounts for 24.4% of the average fund, well ahead of AI Adoption at 14.7%.</li>
<li>Ownership is spreading into memory stocks, but both leading themes remain underweight the benchmark. Rising exposure does not represent a uniform buying wave</li>
</ul>


Chips &amp; Memory is now the largest theme in active Global funds, at 9.70% of the average portfolio versus 8.96% for Hyperscalers.
AI Build-out accounts for 24.4% of the average fund, well ahead of AI Adoption at 14.7%.
Ownership is spreading into memory stocks, but both leading themes remain underweight the benchmark. Rising exposure does not represent a uniform buying wave


Co-founder of Cube Asia, Cube Asia

Simon Torring

Co-founder of Cube Asia

Defining Social Commerce in Southeast Asia

Cube Asia

We offer granular market data and insights for online retail in Southeast Asia, helping brands and retail companies drive profitable growth. 

Why the Cube?
3 dimensions of granularity to help you get deep into the 1) geographies, 2) categories, and 3) types of data and insights you need for your business.

The Cube is a big-data machine that is continuously listening to public data sources and primary research, and triangulating across thousands of data points using probabilistic modeling to produce an accurate and granular picture of Southeast Asia’s online retail landscape.

Equity Bottom-Up

<ul><li>Indonesia’s Mother &amp; Baby e-commerce category grew 36% year on year in Q1 2026 to roughly 20 trillion IDR across the three platforms Cube tracks inTradewinds: Shopee, TikTok Shop, and Lazada.</li><li>Shopee still commands the category with a 69% share, but TikTok Shop is the fastest-rising force, and Baby personal care is where the shift is most visible.</li><li>Here is what the data says, and what brands should do about it.</li></ul>

Indonesia’s Mother &amp; Baby e-commerce category grew 36% year on year in Q1 2026 to roughly 20 trillion IDR across the three platforms Cube tracks inTradewinds: Shopee, TikTok Shop, and Lazada.Shopee still commands the category with a 69% share, but TikTok Shop is the fastest-rising force, and Baby personal care is where the shift is most visible.Here is what the data says, and what brands should do about it.

Indonesia E-Commerce 2026: Mother & Baby category | Cube

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>
Context: Over the past five trading days, <a href="https://www.smartkarma.com/entities/alibaba-group-holding-limited" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba (9988 HK)</a> multi-leg option strategies showcased a variety of approaches. Selected trades are highlighted.</li>
<li>
Highlights: Option traders positioned for a recovery into August earnings while retaining downside protection beyond the event through diagonal put spreads.</li>
<li>
Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies.</li>
</ul>



Context: Over the past five trading days, Alibaba (9988 HK) multi-leg option strategies showcased a variety of approaches. Selected trades are highlighted.

Highlights: Option traders positioned for a recovery into August earnings while retaining downside protection beyond the event through diagonal put spreads.

Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies.


Alibaba (9988 HK / BABA US): Option Traders Turn Bullish Ahead of Earnings

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Alibaba Group has pushed itself deeper into the global artificial intelligence race with the preview of Qwen3.8-Max-Preview.</li><li>The company says the new model is among the most capable systems available and ranks behind only Anthropic’s Fable 5.</li><li>That comparison comes from Alibaba, so independent testing will still matter.</li></ul>

Alibaba Group has pushed itself deeper into the global artificial intelligence race with the preview of Qwen3.8-Max-Preview.The company says the new model is among the most capable systems available and ranks behind only Anthropic’s Fable 5.That comparison comes from Alibaba, so independent testing will still matter.

Alibaba’s 2.4-Trillion-Parameter AI Bet Just Put Silicon Valley On Notice!

<ul><li>It has now been a few weeks since TikTok Shop stopped operating in Indonesia.</li><li>As the immediate dust raised by the action has settled, all the key stakeholders – sellers, brands, investors, enablers, influencers, and of course the teams at TikTok – are back at their drawing boards planning their next moves in Indonesia.</li><li>Outside of Indonesia meanwhile, many have asked the question –will other countries follow suit?</li></ul>

It has now been a few weeks since TikTok Shop stopped operating in Indonesia.As the immediate dust raised by the action has settled, all the key stakeholders – sellers, brands, investors, enablers, influencers, and of course the teams at TikTok – are back at their drawing boards planning their next moves in Indonesia.Outside of Indonesia meanwhile, many have asked the question –will other countries follow suit?

TikTok alerts: Indonesia’s suspension of TikTok Shop unveils a diverse regional risk landscape

China

Alibaba Group Holding Limited provides online sales services. The Company provides internet infrastructure, electronic commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.

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Alibaba (BABA US)

The AI Build-Out Reshapes Global Funds

Chips & Memory has overtaken Hyperscalers as the largest theme in active Global funds. We examine the shift towards AI Build-out, growing memory...

Steven Holden

Indonesia E-Commerce 2026: Mother & Baby category | Cube

Indonesia’s Mother & Baby e-commerce category grew 36% year on year in Q1 2026 to roughly 20 trillion IDR across the three platforms Cube...

Simon Torring

Alibaba (9988 HK / BABA US): Option Traders Turn Bullish Ahead of Earnings

Multi-leg option strategies reveal bullish positioning, with diagonal spreads featuring prominently. Detailed examples provide actionable insights.

Gaudenz Schneider

Alibaba’s 2.4-Trillion-Parameter AI Bet Just Put Silicon Valley On Notice!

Alibaba Group has pushed itself deeper into the global artificial intelligence race with the preview of Qwen3.8-Max-Preview. The company says the...

Baptista Research

TikTok alerts: Indonesia’s suspension of TikTok Shop unveils a diverse regional risk landscape

As the immediate dust raised by the action has settled, all the key stakeholders – sellers, brands, investors, enablers, influencers, and of course...

Simon Torring

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