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>Grab Holdings hits new high in EM fund ownership, Sea Ltd reverses downward momentum.</li>
<li>Both stocks lag more established players in the ASEAN region.</li>
<li>Grab Holdings attracted the highest number of new investors in the ASEAN region over the last 6-months, though Sea Ltd captures the larger portfolio positions among managers.</li>
</ul>


Grab Holdings hits new high in EM fund ownership, Sea Ltd reverses downward momentum.
Both stocks lag more established players in the ASEAN region.
Grab Holdings attracted the highest number of new investors in the ASEAN region over the last 6-months, though Sea Ltd captures the larger portfolio positions among managers.


Sea Ltd & Grab Holdings: Non-Benchmark Attraction

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

<ul>
<li>
<a href="https://www.smartkarma.com/entities/grab-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26950:1" rel="noopener">Grab Holdings (GRAB US)</a> booked a strong finish to the year, beating its upwardly revised guidance, despite some decline in margins due to increased investment, partly due to competitive pressures.</li>
<li>The company continues to expand its total addressable market through its Saver initiatives, whilst successfully increasing monetization through its high-value products, and improving retention and engagement through Grab Unlimited.</li>
<li>Financial services and advertising are becoming increasingly important drivers for growth and profitability. Expect some seasonal slowdown in 1Q2025 but the outlook remains positive and valuations are attractive. </li>
</ul>



Grab Holdings (GRAB US) booked a strong finish to the year, beating its upwardly revised guidance, despite some decline in margins due to increased investment, partly due to competitive pressures.
The company continues to expand its total addressable market through its Saver initiatives, whilst successfully increasing monetization through its high-value products, and improving retention and engagement through Grab Unlimited.
Financial services and advertising are becoming increasingly important drivers for growth and profitability. Expect some seasonal slowdown in 1Q2025 but the outlook remains positive and valuations are attractive. 


Grab Holdings (GRAB US) - Solidifying Its Appeal

<ul>
<li>
<a href="https://www.smartkarma.com/entities/grab-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26950:1" rel="noopener">Grab Holdings</a> has announced that it will tie up with <a href="https://www.smartkarma.com/entities/byd-co-ltd-h" target="_blank" data-smartkarma-citation="entities:20962:1" rel="noopener">BYD (1211 HK)</a> to source 50,000 EVs for its ride-hailing fleet, which will help to address car and driver shortages.</li>
<li>Drivers will be able to buy the vehicles at favourable prices, with competitive financing packages. Grab's technology will be built-in to improve driver performance and provide data to improve services. </li>
<li>
<a href="https://www.smartkarma.com/entities/grab-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26950:1" rel="noopener">Grab</a> is also stepping up its efforts in insurance, winning general insurance licences in Singapore and Malaysia, allowing it to offer tailored insurance products to drivers initially but customers later.</li>
</ul>



Grab Holdings has announced that it will tie up with BYD (1211 HK) to source 50,000 EVs for its ride-hailing fleet, which will help to address car and driver shortages.
Drivers will be able to buy the vehicles at favourable prices, with competitive financing packages. Grab's technology will be built-in to improve driver performance and provide data to improve services. 

Grab is also stepping up its efforts in insurance, winning general insurance licences in Singapore and Malaysia, allowing it to offer tailored insurance products to drivers initially but customers later.


Grab Holdings (GRAB IJ) - New Fleets and Finance

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul>
<li>Grab Holdings Limited recently presented its Q3 2024 financial performance, showcasing a complex mix of achievements and challenges.</li>
<li>The company highlighted several key metrics tied to its operations and future prospects, amid an increasingly competitive landscape, particularly in Southeast Asia.</li>
<li>The quarter reflected substantial growth in core business areas.</li>
</ul>


Grab Holdings Limited recently presented its Q3 2024 financial performance, showcasing a complex mix of achievements and challenges.
The company highlighted several key metrics tied to its operations and future prospects, amid an increasingly competitive landscape, particularly in Southeast Asia.
The quarter reflected substantial growth in core business areas.


Grab Holdings: Financial Services Expansion & Loan Growth As A Strategic Growth Enabler!

<ul>
<li>
<a href="https://www.smartkarma.com/entities/grab-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26950:1" rel="noopener">Grab Holdings</a> has expressed excitement for 2025, as it harvests the investments it has made in its laddered approach to new product offerings from Saver to Grab Unlimited in 2024. </li>
<li>Having grown transacting users in 2024 through its Saver offering, Grab will focus on growing its premium offers in 2025. Groceries should outperform along with its offline dining initiatives. </li>
<li>
<a href="https://www.smartkarma.com/entities/grab-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26950:1" rel="noopener">Grab</a> will focus on lending growth at its DigiBanks in Malaysia, and Singapore in 2025 and will double down on its advertising offerings. Grab will book a 2025 net profit.</li>
</ul>



Grab Holdings has expressed excitement for 2025, as it harvests the investments it has made in its laddered approach to new product offerings from Saver to Grab Unlimited in 2024. 
Having grown transacting users in 2024 through its Saver offering, Grab will focus on growing its premium offers in 2025. Groceries should outperform along with its offline dining initiatives. 

Grab will focus on lending growth at its DigiBanks in Malaysia, and Singapore in 2025 and will double down on its advertising offerings. Grab will book a 2025 net profit.


Singapore

Grab Holdings Limited operates as a holding company. The Company, through its subsidiaries, develops delivery management, mobility, financial services, and enterprise software solutions. Grab Holdings serves customers worldwide.

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Grab Holdings (GRAB US)

Sea Ltd & Grab Holdings: Non-Benchmark Attraction

Investment in Singapore's two most widely held names is climbing among active Emerging Market Equity Funds, with Grab Holdings hitting new highs in...

Steven Holden