Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Event-Driven

We at Smartkarma Special Situations put out a weekly update on trade ideas we like, key events from the week gone by and what to look out for in the week ahead.Risk arbitrage trades we have our eyes on are:<ul><li><a href="https://www.smartkarma.com/entities/15914" target="_blank" data-smartkarma-citation="entities:15914:1">Calsonic Kansei Corp (7248 JP)</a> / KKR</li><li><a href="https://www.smartkarma.com/entities/1040" target="_blank" data-smartkarma-citation="entities:1040:1">Lawson (2651 JP)</a> / <a href="https://www.smartkarma.com/entities/20668" target="_blank" data-smartkarma-citation="entities:20668:1">Mitsubishi Corp (8058 JP)</a></li><li><a href="https://www.smartkarma.com/entities/13301" target="_blank" data-smartkarma-citation="entities:13301:1">ARA Asset Management (ARA SP)</a> / Consortium</li><li><a href="https://www.smartkarma.com/entities/610" target="_blank" data-smartkarma-citation="entities:610:1">Huabao International Holdings Limited (336 HK)</a> / Chairwoman Chu Lam Yiu</li><li><a href="https://www.smartkarma.com/entities/8117" target="_blank" data-smartkarma-citation="entities:8117:1">Innovalues Ltd (IP SP)</a> / Northstar Group</li></ul>Have a great weekend!

We at Smartkarma Special Situations put out a weekly update on trade ideas we like, key events from the week gone by and what to look out for in the week ahead.Risk arbitrage trades we have our eyes on are:Calsonic Kansei Corp (7248 JP) / KKRLawson (2651 JP) / Mitsubishi Corp (8058 JP)ARA Asset Management (ARA SP) / ConsortiumHuabao International Holdings Limited (336 HK) / Chairwoman Chu Lam YiuInnovalues Ltd (IP SP) / Northstar GroupHave a great weekend!

Smartkarma - Special Situations Weekly Update (12 December 2016)

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Thematic (Sector/Industry)

We don't expect China's beverage market to reaccelerate to the levels it once enjoyed. Although the country's consumption of soft drinks and alcoholic beverages will likely continue to rise at a healthy clip, offering outsize gains versus other, more-developed nations, we expect slowing gross domestic product growth, worsening demographics, and embedded cultural practices to cause much more muted gains over the next five years than many investors hope.We anticipate soft-drink and beer volume growth to trail GDP gains. That said, we see pockets of opportunity for manufacturers as further premiumization leads to improving price points, profitability, and returns on capital. In particular, we think investors should keep international beverage behemoths #<a href="https://www.smartkarma.com/entities/979" target="_blank" data-smartkarma-citation="entities:979:1">Coca Cola Co/The (KO US)</a> and <a href="https://www.smartkarma.com/entities/865" target="_blank" data-smartkarma-citation="entities:865:1">Anheuser Busch Inbev Sa/Nv (ABI BB)</a> on their watch lists, given solid brand intangible assets, national distribution networks, and cost advantages. Conversely, we think local brewer <a href="https://www.smartkarma.com/entities/1296" target="_blank" data-smartkarma-citation="entities:1296:1">Tsingtao Brewery Co Ltd H (168 HK)</a> looks overvalued.Analysts: Adam Fleck, CFA &amp; team

We don't expect China's beverage market to reaccelerate to the levels it once enjoyed. Although the country's consumption of soft drinks and alcoholic beverages will likely continue to rise at a healthy clip, offering outsize gains versus other, more-developed nations, we expect slowing gross domestic product growth, worsening demographics, and embedded cultural practices to cause much more muted gains over the next five years than many investors hope.We anticipate soft-drink and beer volume growth to trail GDP gains. That said, we see pockets of opportunity for manufacturers as further premiumization leads to improving price points, profitability, and returns on capital. In particular, we think investors should keep international beverage behemoths #Coca Cola Co/The (KO US) and Anheuser Busch Inbev Sa/Nv (ABI BB) on their watch lists, given solid brand intangible assets, national distribution networks, and cost advantages. Conversely, we think local brewer Tsingtao Brewery Co Ltd H (168 HK) looks overvalued.Analysts: Adam Fleck, CFA &amp; team

China Unlikely to Quench Beverage Firms' Thirst for Growth

China

China Shengmu Organic Milk Limited produces organic dairy products. The Company offers raw milk, organic liquid milk, non-organic raw milk, and other related products. China Shengmu Organic Milk operates throughout China.

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China Shengmu Organic Milk (1432 HK)

Smartkarma - Special Situations Weekly Update (12 December 2016)

We at Smartkarma Special Situations put out a weekly update on trade ideas we like, key events from the week gone by and what to look out for in...

Crispin Francis

China Unlikely to Quench Beverage Firms' Thirst for Growth

We don't expect China's beverage market to reaccelerate to the levels it once enjoyed. Although the country's consumption of soft drinks and...

Morningstar, Inc.

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