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>Global equity funds move to record USA underweight of -7.02% below the benchmark.</li>
<li>Heavy rotation out of the USA and in to the major European nations over the last 6-months.</li>
<li>Record spread between the US underweight/DM Europe overweight highlights strong conviction in US underperformance and EU outperformance.</li>
</ul>


Global equity funds move to record USA underweight of -7.02% below the benchmark.
Heavy rotation out of the USA and in to the major European nations over the last 6-months.
Record spread between the US underweight/DM Europe overweight highlights strong conviction in US underperformance and EU outperformance.


USA: Record Underweight as Shift to Europe Accelerates

Global Multi-Asset Investment Strategist, True Insights

Jeroen Blokland

Global Multi-Asset Investment Strategist

Build Well-Diversified Multi-Asset Portfolios

True Insights

Our research helps investors build well-diversified multi-asset portfolios and profit from market developments. In addition, our unique and proven Macro – Sentiment – Valuation (MSV) investment framework ensures a consistent flow of new investment opportunities. Together with our market views, these opportunities will be reflected in our live ETF-based Global Multi-Asset Portfolios.

<ul>
<li>The measures taken by the Federal Reserve and the US Treasury do not protect against idiosyncratic bank runs like the one that hit First Republic Bank.</li>
<li>Big Tech is beating big time, but earnings and sales growth have declined significantly in recent quarters, while valuation increased.</li>
<li>Should volatility spike, which is definitely on the table, Systematic Macro investors will have to sell up to USD 300 billion in equities.</li>
</ul>


The measures taken by the Federal Reserve and the US Treasury do not protect against idiosyncratic bank runs like the one that hit First Republic Bank.
Big Tech is beating big time, but earnings and sales growth have declined significantly in recent quarters, while valuation increased.
Should volatility spike, which is definitely on the table, Systematic Macro investors will have to sell up to USD 300 billion in equities.


Weekly Market Monitor (17) - Banking Anxiety – Back with a Vengeance!

High Quality Stock Setups, Weekly Stock Bull Finder

Weekly Stock Bull Finder

High Quality Stock Setups

Finding high potential stock setups on quality companies

Thematic (Sector/Industry)

<ul><li>Earnings Season Thus Far- Meanwhile Mixed Economic Messages Earnings season picks up this week with the technology heavyweights like Alphabet, Microsoft, Amazon, and Meta are all set to report their results.</li><li>During the upcoming week, 180 S&amp;P 500 companies (including 14 Dow 30 components) are scheduled to report results for the first quarter.</li><li>Overall, 18% of the companies in the S&amp;P 500 have reported actual results for Q1 2023 to date.</li></ul>

Earnings Season Thus Far- Meanwhile Mixed Economic Messages Earnings season picks up this week with the technology heavyweights like Alphabet, Microsoft, Amazon, and Meta are all set to report their results.During the upcoming week, 180 S&amp;P 500 companies (including 14 Dow 30 components) are scheduled to report results for the first quarter.Overall, 18% of the companies in the S&amp;P 500 have reported actual results for Q1 2023 to date.

Value Investing

Vladimir Dimitrov, CFA

Equity Bottom-Up

<ul>
<li>After losing nearly a third of its value, Amazon looks more attractive than a year ago.</li>
<li>Investors should be mindful of recency bias when evaluating Amazon's share price attractiveness.</li>
<li>The unique business model also poses some risks that should be considered regardless of one's investment horizon.</li>
</ul>


After losing nearly a third of its value, Amazon looks more attractive than a year ago.
Investors should be mindful of recency bias when evaluating Amazon's share price attractiveness.
The unique business model also poses some risks that should be considered regardless of one's investment horizon.


Amazon: Having A Long-Term View Doesn't Mean You Should Disregard Immediate Risks

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

<ul><li>AI /<a href="https://www.caixinglobal.com/2023-04-10/cover-story-chinese-internet-giants-ai-startups-rush-to-jump-on-chatgpt-bandwagon-102017065.html" target="_blank" rel="noopener">Cover Story: Chinese internet giants, AI startups rush to jump on ChatGPT bandwagon</a></li><li>China-EU /Opinion: Macron and VDL’s visits to China – will the rejection of decoupling lead to restoration of relations?</li><li>Inspections /: China doubles down on rooting out corruption in sports</li></ul>

AI /Cover Story: Chinese internet giants, AI startups rush to jump on ChatGPT bandwagonChina-EU /Opinion: Macron and VDL’s visits to China – will the rejection of decoupling lead to restoration of relations?Inspections /: China doubles down on rooting out corruption in sports

CX Daily: Chinese Internet Giants, AI Startups Rush to Jump on ChatGPT Bandwagon

United States

Microsoft Corporation operates as a software company. The Company offers applications, extra cloud storage, and advanced security solutions. Microsoft serves customers worldwide.

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Microsoft Corp (MSFT US)

USA: Record Underweight as Shift to Europe Accelerates

Global equity funds move to record underweight in US equities. Spread between US underweight and DM Europe overweight hits all-time high.

Steven Holden

Weekly Market Monitor (17) - Banking Anxiety – Back with a Vengeance!

Welcome to the weekly Market Monitor, keeping you updated on the week’s most important charts and developments in financial markets.

Jeroen Blokland

Weekly Stock Bullfinder - Week of 4/24

During the upcoming week, 180 S&P 500 companies (including 14 Dow 30 components) are scheduled to report results for the first quarter.

Weekly Stock Bull Finder

Amazon: Having A Long-Term View Doesn't Mean You Should Disregard Immediate Risks

After losing nearly a third of its value, Amazon looks more attractive than a year ago.Investors should be mindful of recency bias when evaluating...

Vladimir Dimitrov, CFA

CX Daily: Chinese Internet Giants, AI Startups Rush to Jump on ChatGPT Bandwagon

AI /Cover Story: Chinese internet giants, AI startups rush to jump on ChatGPT bandwagon China-EU /Opinion: Macron and VDL’s visits to China –...

Caixin Global

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