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>South Korea rebounds from a record low, with fund allocations rising from 8.6% to 10.4%—bringing net positioning close to equal weight for the first time in 17 years.</li>
<li>Tech and Financials lead the revival, with SK Hynix surging in both price and ownership. Other names like NAVER and Hyundai Rotem show growing traction.</li>
<li>Selectivity is back. While some stocks still lag, the shift toward Korea’s global leaders is helping EM investors rebuild exposure after years of structural underweight.</li>
</ul>


South Korea rebounds from a record low, with fund allocations rising from 8.6% to 10.4%—bringing net positioning close to equal weight for the first time in 17 years.
Tech and Financials lead the revival, with SK Hynix surging in both price and ownership. Other names like NAVER and Hyundai Rotem show growing traction.
Selectivity is back. While some stocks still lag, the shift toward Korea’s global leaders is helping EM investors rebuild exposure after years of structural underweight.


South Korea: Rebounding as Underweight Narrows

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 KRX stocks as of Sep 18th. The aggregated holding was USD1,670.3bn.</li>
<li>We estimate that foreign flows to be outflows of USD8,838mln. We tabulate the league table 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 SK Hynix, Samsung Electronics, Samsung Elec (PREF), DOOSAN, Doosan Enerbility.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Sep 18th. The aggregated holding was USD1,670.3bn.
We estimate that foreign flows to be outflows of USD8,838mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in SK Hynix, Samsung Electronics, Samsung Elec (PREF), DOOSAN, Doosan Enerbility.


KRX Foreign Holding Weekly (Sep 18th): SK Hynix, Samsung Electronics, Samsung Elec (PREF), DOOSAN

Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

<ul>
<li>In today's uncertain scenario, cash is king. Moreover, the high US treasury yields, which had rendered a dividend yield strategy relatively unattractive, are beginning to decline again.</li>
<li>In addition to considering today's dividend yields, we think it's also imperative to take into account companies' future earnings potential to assess future dividend stability.</li>
<li>Screening companies with at least 6% forward dividend yield and 5% forecast EPS CAGR over next 2 years, we arrive at our basket of 23 dividend yielders, 13 from HK/China.</li>
</ul>


In today's uncertain scenario, cash is king. Moreover, the high US treasury yields, which had rendered a dividend yield strategy relatively unattractive, are beginning to decline again.
In addition to considering today's dividend yields, we think it's also imperative to take into account companies' future earnings potential to assess future dividend stability.
Screening companies with at least 6% forward dividend yield and 5% forecast EPS CAGR over next 2 years, we arrive at our basket of 23 dividend yielders, 13 from HK/China.


Asian Equities: Asia's Robust Dividend Yielders

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>We are starting a new series of insights called "Top 10 Korean Stock Picks Bi-Weekly."
</li>
<li>The main purpose of these insights is to pick top 10 stocks in Korea that could outperform KOSPI in the following two week period.</li>
<li>The top 10 stock picks include Kia Corp, Kangwon Land, OCI Holdings, HD Hyundai, Doosan Bobcat, BNK Financial, Hyundai Mobis, HMM, Hyundai Glovis, and Korean Reinsurance.</li>
</ul>


We are starting a new series of insights called "Top 10 Korean Stock Picks Bi-Weekly."

The main purpose of these insights is to pick top 10 stocks in Korea that could outperform KOSPI in the following two week period.
The top 10 stock picks include Kia Corp, Kangwon Land, OCI Holdings, HD Hyundai, Doosan Bobcat, BNK Financial, Hyundai Mobis, HMM, Hyundai Glovis, and Korean Reinsurance.


Top 10 Korean Stock Picks Bi-Weekly (Starting 20 January 2025)

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Sep 11th. The aggregated holding was USD1,714.2bn.</li>
<li>We estimate that foreign flows to be inflows of USD1,692mln. We tabulate the league table 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 SK Hynix, SKSQUARE, Samsung Elec (PREF), KAL, EO Technics.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Sep 11th. The aggregated holding was USD1,714.2bn.
We estimate that foreign flows to be inflows of USD1,692mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in SK Hynix, SKSQUARE, Samsung Elec (PREF), KAL, EO Technics.


KRX Foreign Holding Weekly (Sep 11th): SK Hynix, SKSQUARE, Samsung Elec (PREF), KAL, EO Technics

South Korea

Kia Corporation manufactures, sells, and exports passenger cars, mini-buses, trucks and commercial vehicles. The Company also manufactures auto-parts and tools using hybrid electric and fuel cell technology. Kia markets its products worldwide.

Price Gauge
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Kia Corp (000270 KS)

South Korea: Rebounding as Underweight Narrows

South Korea is back on the radar. Fund allocations have rebounded to 10.4%, with net positioning near equal weight for the first time in 17...

Steven Holden

KRX Foreign Holding Weekly (Sep 18th): SK Hynix, Samsung Electronics, Samsung Elec (PREF), DOOSAN

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, Samsung Electronics, Samsung Elec...

Ke Yan, CFA, FRM

Asian Equities: Asia's Robust Dividend Yielders

In uncertain times, firms distributing cash as dividends are naturally investors' darlings. Screening large caps on min 6% div yield and future...

Manishi Raychaudhuri

Top 10 Korean Stock Picks Bi-Weekly (Starting 20 January 2025)

We are starting a new series of insights called "Top 10 Korean Stock Picks Bi-Weekly." Main purpose of them is to pick top 10 stocks in Korea that...

Douglas Kim

KRX Foreign Holding Weekly (Sep 11th): SK Hynix, SKSQUARE, Samsung Elec (PREF), KAL, EO Technics

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, SKSQUARE, Samsung Elec (PREF), KAL, EO...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

South Korea: Rebounding as Underweight Narrows

South Korea is back on the radar. Fund allocations have rebounded to 10.4%, with net positioning near equal weight for the first time in 17...

Steven Holden

KRX Foreign Holding Weekly (Sep 18th): SK Hynix, Samsung Electronics, Samsung Elec (PREF), DOOSAN

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, Samsung Electronics, Samsung Elec...

Ke Yan, CFA, FRM

Asian Equities: Asia's Robust Dividend Yielders

​In uncertain times, firms distributing cash as dividends are naturally investors' darlings. Screening large caps on min 6% div yield and future...

Manishi Raychaudhuri

Top 10 Korean Stock Picks Bi-Weekly (Starting 20 January 2025)

We are starting a new series of insights called "Top 10 Korean Stock Picks Bi-Weekly." Main purpose of them is to pick top 10 stocks in Korea that...

Douglas Kim

KRX Foreign Holding Weekly (Sep 11th): SK Hynix, SKSQUARE, Samsung Elec (PREF), KAL, EO Technics

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, SKSQUARE, Samsung Elec (PREF), KAL, EO...

Ke Yan, CFA, FRM

In uncertain times, firms distributing cash as dividends are naturally investors' darlings. Screening large caps on min 6% div yield and future...