Quantitative Equity Analyst, DMA

Charlotte van Tiddens, CFA

Quantitative Equity Analyst

Technology-First Company

DMA is a technology-first company that provides an end-to-end SaaS solution to institutional investors. DMA enables regulated entities like asset managers, wealth managers, investment managers and financial advisors to connect their front and back office, break silos and reduce headcount.

Event-Driven

<ul><li>During the last quarter of 2024, 55% of active SA equity funds outperformed their benchmarks.</li><li>This is ahead of preceding quarter where 48% of active funds outperformed.</li><li>It is also interesting to note that for the year up to the end of Q3 2024, 22% of funds outperformed their benchmarks.</li></ul>

During the last quarter of 2024, 55% of active SA equity funds outperformed their benchmarks.This is ahead of preceding quarter where 48% of active funds outperformed.It is also interesting to note that for the year up to the end of Q3 2024, 22% of funds outperformed their benchmarks.

Funds in Focus Q4 2024 & 2024: A Better Quarter & Year for Active SA Equity Managers

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Macroeconomics

<ul><li>Welcome to our weekly EM Watch, where we examine Emerging Markets (with a particular focus on China) through the lens of Western investors.</li><li>It’s been a rough month for anything linked to China, including industrially sensitive commodities.</li><li>According to one of the most reliable live gauges of Chinese energy demand—the Singapore Gasoil-Dubai Crude Crack Swap—we are still on a slippery slope toward weaker demand from China.</li></ul>

Welcome to our weekly EM Watch, where we examine Emerging Markets (with a particular focus on China) through the lens of Western investors.It’s been a rough month for anything linked to China, including industrially sensitive commodities.According to one of the most reliable live gauges of Chinese energy demand—the Singapore Gasoil-Dubai Crude Crack Swap—we are still on a slippery slope toward weaker demand from China.

EM Watch: The Non-Feasible Return of the EM Carry Case Amidst a Global Slowdown

Cross Asset Strategy

<ul><li>After a tricky few days, we have started gaining substantial traction in our portfolio again over the past 1-2 trading days.</li><li>Risk assets seem to be stabilizing, with crypto leading a new bull wave, while metals are selling off right, left, and center alongside a turning tide in the USD versus Asian FX and Lat-Am FX overall.</li><li>Over the week, our biggest concern, given our current tilt in industrial metals, is that manufacturing rebounds faster than anticipated by many.</li></ul>

After a tricky few days, we have started gaining substantial traction in our portfolio again over the past 1-2 trading days.Risk assets seem to be stabilizing, with crypto leading a new bull wave, while metals are selling off right, left, and center alongside a turning tide in the USD versus Asian FX and Lat-Am FX overall.Over the week, our biggest concern, given our current tilt in industrial metals, is that manufacturing rebounds faster than anticipated by many.

Portfolio Watch: Here Comes the Metals Meltdown...

<ul><li>Hello everyone, and welcome back to our weekly positioning watch.</li><li>The debates about whether the US is heading for a recession are still touring the charts, as the labor market and other economic data soften back towards pre-pandemic levels.</li><li>However, while some might be uncomfortable watching the US economy slow more than anticipated, the lack of ringing alarm bells and Powell’s recent victory lap on inflation have greenlighted markets to price in a soft landing as a 95-99% probability event by now when looking across positioning data.</li></ul>

Hello everyone, and welcome back to our weekly positioning watch.The debates about whether the US is heading for a recession are still touring the charts, as the labor market and other economic data soften back towards pre-pandemic levels.However, while some might be uncomfortable watching the US economy slow more than anticipated, the lack of ringing alarm bells and Powell’s recent victory lap on inflation have greenlighted markets to price in a soft landing as a 95-99% probability event by now when looking across positioning data.

Positioning Watch – The Soft Landing Is Moving Towards a Recovery Trade

<ul><li>Welcome to our weekly EM and Metals editorial.</li><li>It’s hard not to talk about China again this week, given the importance of the metals trade for global inflation expectations.</li><li>Our live assessment of the Chinese recovery continues to paint a stalling picture in Real Estate, exemplified by the physical copper demand being on the edge of a precipice, while the pollution based metrics hint of a continued surge in industrial production into June.</li></ul>

Welcome to our weekly EM and Metals editorial.It’s hard not to talk about China again this week, given the importance of the metals trade for global inflation expectations.Our live assessment of the Chinese recovery continues to paint a stalling picture in Real Estate, exemplified by the physical copper demand being on the edge of a precipice, while the pollution based metrics hint of a continued surge in industrial production into June.

EM Watch: Is the Chinese copper demand down 40%?

Brazil

The Brazilian real is the official currency of the Federative Republic of Brazil.  

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Funds in Focus Q4 2024 & 2024: A Better Quarter & Year for Active SA Equity Managers

During the last quarter of 2024, 55% of active SA equity funds outperformed their benchmarks. This is ahead of preceding quarter where 48% of...

DMA

EM Watch: The Non-Feasible Return of the EM Carry Case Amidst a Global Slowdown

Welcome to our weekly EM Watch, where we examine Emerging Markets (with a particular focus on China) through the lens of Western investors. It’s...

Steno Research

Portfolio Watch: Here Comes the Metals Meltdown...

After a tricky few days, we have started gaining substantial traction in our portfolio again over the past 1-2 trading days.

Steno Research

Positioning Watch – The Soft Landing Is Moving Towards a Recovery Trade

Overall positioning and sentiment indicators are starting to diverge, though. Most indicators show continued support for risk assets in H2.

Steno Research

EM Watch: Is the Chinese copper demand down 40%?

Welcome to our weekly EM and Metals editorial. It’s hard not to talk about China again this week, given the importance of the metals trade for...

Steno Research

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