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>The percentage of Global funds invested in Taiwan hits an all-time high of 57.8%.</li>
<li>Taiwan has been a key beneficiary of manager rotation alongside India, Argentina and South Korea over the last 6-months.</li>
<li>TSMC is the dominant stock holding, with 49.8% of funds holding a position and has hit record ownership among Global funds.</li>
</ul>


The percentage of Global funds invested in Taiwan hits an all-time high of 57.8%.
Taiwan has been a key beneficiary of manager rotation alongside India, Argentina and South Korea over the last 6-months.
TSMC is the dominant stock holding, with 49.8% of funds holding a position and has hit record ownership among Global funds.


Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Oct 8th. The aggregated holding was USD2,409.2bn.</li>
<li>We estimate that foreign flows to be inflows of USD6,235mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Wiwynn, MediaTek, TSMC, Unimicron Technology, Zhen Ding Technology.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Oct 8th. The aggregated holding was USD2,409.2bn.
We estimate that foreign flows to be inflows of USD6,235mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Wiwynn, MediaTek, TSMC, Unimicron Technology, Zhen Ding Technology.


TWSE Foreign Holding Weekly (Oct 8th): Wiwynn, MediaTek, TSMC, Unimicron Technology

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Thematic (Sector/Industry)

<ul>
<li>We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology</li>
<li>Portfolio changes: Four stocks remain, 10 stocks added into portfolio</li>
<li>Since its inception, it has generated a before-fee total return of 268% versus the MSCI Asia ex Japan of 128%</li>
</ul>


We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology
Portfolio changes: Four stocks remain, 10 stocks added into portfolio
Since its inception, it has generated a before-fee total return of 268% versus the MSCI Asia ex Japan of 128%


<ul>
<li>We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology</li>
<li>Portfolio changes: All fourteen stocks have changed in the portfolio</li>
<li>Since its inception, it has generated a before-fee total return of 262% versus the MSCI Asia ex Japan of 110%</li>
</ul>


We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology
Portfolio changes: All fourteen stocks have changed in the portfolio
Since its inception, it has generated a before-fee total return of 262% versus the MSCI Asia ex Japan of 110%


Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Global MSCI indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM) are pulling back following recent breakouts to multi-year highs. Europe, Japan also pulling back to uptrend supports.</li>
<li>Short-Term supports to watch-discussed in our May 23, 2024 Int'l Compass-include $110.50 on ACWI-US, $53.50 on ACWX-US, $80 on EFA-US, and $41-42 on EEM-US; buy this pullback. </li>
<li>As long as these supports hold, we anticipate significantly higher prices ahead. Combination of supports holding and healthy market dynamics continues to validate our bullish outlook on global equities.</li>
</ul>


Global MSCI indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM) are pulling back following recent breakouts to multi-year highs. Europe, Japan also pulling back to uptrend supports.
Short-Term supports to watch-discussed in our May 23, 2024 Int'l Compass-include $110.50 on ACWI-US, $53.50 on ACWX-US, $80 on EFA-US, and $41-42 on EEM-US; buy this pullback. 
As long as these supports hold, we anticipate significantly higher prices ahead. Combination of supports holding and healthy market dynamics continues to validate our bullish outlook on global equities.


Buy the Pullback; Market Dynamics Remain Healthy; Buys in Tech, Discretionary, Healthcare, Utilities

Taiwan

Catcher Technology Co., Ltd. manufactures aluminum and magnesium die casting products which are used in notebook computers, cellular phones, and hard disk drive bases.

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Catcher Technology (2474 TT)

Taiwan: Underowned, Yet Gaining on Peers

Taiwan hits record levels of exposure among actively managed Global equity funds, yet it still lags behind its counterparts in the USA and Europe.

Steven Holden

TWSE Foreign Holding Weekly (Oct 8th): Wiwynn, MediaTek, TSMC, Unimicron Technology

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Wiwynn, MediaTek, TSMC, Unimicron Technology,...

Ke Yan, CFA, FRM

The Stocks to Own in Asia – Vol. 50

We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology. Portfolio changes: Four stocks remain, 10 stocks added.

A. Stotz Investment Research

The Stocks to Own in Asia – Vol. 49

We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology. Portfolio changes: All 14 stocks have changed.

A. Stotz Investment Research

Buy the Pullback; Market Dynamics Remain Healthy; Buys in Tech, Discretionary, Healthcare, Utilities

Buy the Pullbacks in $EFA $ACWX as they hold above $80 and $53.50 supports; Europe and Japan also buyable pullbacks to uptrend supports; Market...

Vermilion Research

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