First Pacific (142 HK): Maynilad's IPO (Now With Prospectus Numbers)
This insight is largely a rehash of yesterday's note, together with updated numbers applying prospectus figures. I thought this warranted a fresh...
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First Pacific (142 HK): Maynilad's IPO Price Firmed
First Pac's NAV discount is elevated for a multiple cross-border, difficult to short holdco. Maynilad's IPO was priced below expectations. Plus the...
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HONG KONG ALPHA PORTFOLIO: (November 2025)
We made small changes to the HK Alpha portfolio mid-month. At the close on 12/12 we sold all of First Pacific (142 HK) and added 2% to our...
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HONG KONG ALPHA PORTFOLIO: (October 2025)
We made mid-month adjustments to the portfolio due to sudden re-escalation of tensions with the US & concurrent sectoral de-rating. Several...
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HONG KONG ALPHA PORTFOLIO (August 2025)
Hong Kong Alpha portfolio gained 11.34% in October outperforming its benchmark and HK indexes. The portfolio's Sharpe ratio increased to 2.91 and...
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