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

Equity Bottom-Up

<ul>
<li>Asia Ex-Japan investors move from underweight to a record overweight in Samsung Electronics</li>
<li>Samsung has been a key beneficiary of manager rotation over the last 6-months alongside BYD, Trip Com and Meituan.</li>
<li>Majority of funds positioned overweight with a record 81.4% of funds holding a position.  Samsung becomes one of the highest conviction holdings in the Asia Ex-Japan region.</li>
</ul>


Asia Ex-Japan investors move from underweight to a record overweight in Samsung Electronics
Samsung has been a key beneficiary of manager rotation over the last 6-months alongside BYD, Trip Com and Meituan.
Majority of funds positioned overweight with a record 81.4% of funds holding a position.  Samsung becomes one of the highest conviction holdings in the Asia Ex-Japan region.


Samsung Electronics:  Return of the King

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jun 16th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Baba, Tencent, Meituan, Cm Bank, Yankuang Energy.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jun 16th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Baba, Tencent, Meituan, Cm Bank, Yankuang Energy.


HK Short Interest Weekly: Baba, Tencent, Meituan, CMB, Yankuang Energy

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 23rd based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 23rd based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).


Hong Kong Buybacks Weekly (Jun 23rd): Tencent's HKD1.6bn Buybacks

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jun 9th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Longfor, Yuexiu Property, Pop Mart.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jun 9th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Longfor, Yuexiu Property, Pop Mart.


HK Short Interest Weekly: Longfor, Yuexiu Property, Pop Mart

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 16th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 16th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), CK Asset (1113 HK).


Hong Kong Buybacks Weekly (Jun 16th): Tencent, Aia, Ck Asset

Hong Kong

AIA Group Limited offers insurance and financial services. The Company writes life insurance for individuals, businesses, accident, and health insurance, as well as retirement planning and wealth management services.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

AIA Group Ltd (1299 HK)

Samsung Electronics: Return of the King

After a brief flirt with underweight in late 2022, active Asia Ex-Japan managers rotate back in to Samsung Electronics, pushing allocations towards...

Steven Holden

HK Short Interest Weekly: Baba, Tencent, Meituan, CMB, Yankuang Energy

We analyzed the latest HK SFC report for aggregate short position as of Jun 16th and highlight short interest changes in Baba, Tencent, Meituan, Cm...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Jun 23rd): Tencent's HKD1.6bn Buybacks

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Longfor, Yuexiu Property, Pop Mart

We analyzed the latest HK SFC report for aggregate short position as of Jun 9th and highlight short interest changes in Longfor, Yuexiu Property,...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Jun 16th): Tencent, Aia, Ck Asset

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)