Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

The Asia HY Trade Recommendations report for January includes a summary of our recommendations, as well as our high-conviction ideas. We also provide relative-value charts and lists of the bonds in the Lucror Asia HY index.

   The Asia HY Trade Recommendations report for January includes a summary of our recommendations, as well as our high-conviction ideas. We also provide relative-value charts and lists of the bonds in the Lucror Asia HY index. 

Asia HY Trade Recommendations - January 2019 - Lucror Analytics

In this month’s “In-Focus” section, we discuss Corporate Governance in Chinese Companies. Specifically, we highlight: [1] the nascent development of the Chinese corporate governance regime; [2] the lack of strong external examination/review; [3] different types of Chinese public companies; and [4] Lucror’s approach to assessing corporate governance. The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the "In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market.

   In this month’s “In-Focus” section, we discuss Corporate Governance in Chinese Companies. Specifically, we highlight: [1] the nascent development of the Chinese corporate governance regime; [2] the lack of strong external examination/review; [3] different types of Chinese public companies; and [4] Lucror’s approach to assessing corporate governance.    The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the "In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market. 

Asia HY Monthly - Corporate Governance In Chinese Companies - Lucror Analytics

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar. 

Lucror Analytics - Morning Views Asia - 23 Oct 2018

Pan-Asia Equity Bottom-up, Wickhams Hill

Lloyd Moffatt

Pan-Asia Equity Bottom-up

Research-Intensive Fundamental Value Advisor

Wickhams Hill

Wickhams Hill Capital is a research-intensive fundamental value advisor, on long and occasionally short investment opportunities concentrated in small and mid-cap public companies.

Thematic (Sector/Industry)

If there’s one thing we bottom-up small-cap investors do poorly versus our large-cap mutual- and hedge-fund counterparts is overall market awareness. Many peers investing in this space were up more than 20% in 2017 but were labelled as underperforming the Index, which in the case of the MSCI Asia Ex.Japan was up 38.7%!The purpose of this report is to dig beyond the headline figure and highlight pockets of over and underperformance, as-well-as opportunities for the upcoming year.We have created…

If there’s one thing we bottom-up small-cap investors do poorly versus our large-cap mutual- and hedge-fund counterparts is overall market awareness. Many peers investing in this space were up more than 20% in 2017 but were labelled as underperforming the Index, which in the case of the MSCI Asia Ex.Japan was up 38.7%!The purpose of this report is to dig beyond the headline figure and highlight pockets of over and underperformance, as-well-as opportunities for the upcoming year.We have created…

ASEAN Small-Micro Cap – Winners, Losers and Opportunities for 2018

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

<h2>Headlines</h2><ul>
<li>In 2016 volume sales of personal care appliances grow by 3% to reach 590,000 units</li>
<li>Personal care appliances continue to be purchased mainly by middle upper income households</li>
<li>Hair care appliances registers the strongest retail volume growth of 3%</li>
<li>Average unit prices increases by 2% in current terms</li>
<li>Procter &amp; Gamble Home Products Indonesia leads the category with a 22% share of volume sales</li>
<li>Over the forecast period personal care appliances set to record a volume CAGR of 3% to approach sales of…</li>
</ul>

Headlines
In 2016 volume sales of personal care appliances grow by 3% to reach 590,000 units
Personal care appliances continue to be purchased mainly by middle upper income households
Hair care appliances registers the strongest retail volume growth of 3%
Average unit prices increases by 2% in current terms
Procter &amp; Gamble Home Products Indonesia leads the category with a 22% share of volume sales
Over the forecast period personal care appliances set to record a volume CAGR of 3% to approach sales of…


Sector Capsule: Personal Care Appliances in Indonesia

Indonesia

PT Pan Brothers Tbk spins, weaves, knits, finishes, and prints garments. The Company's products include polo shirts, track suits, sweat shirts, pants, and fabrics. Pan Brothers exports its products.

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Pan Brothers (PBRX IJ)

Asia HY Trade Recommendations - January 2019 - Lucror Analytics

The Asia HY Trade Recommendations report for January includes a summary of our recommendations, as well as our high-conviction ideas. We also...

Lucror Analytics

Asia HY Monthly - Corporate Governance In Chinese Companies - Lucror Analytics

In this month’s “In-Focus” section, we discuss Corporate Governance in Chinese Companies. Specifically, we highlight: [1] the nascent development...

Lucror Analytics

Lucror Analytics - Morning Views Asia - 23 Oct 2018

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

ASEAN Small-Micro Cap – Winners, Losers and Opportunities for 2018

If there’s one thing we bottom-up small-cap investors do poorly versus our large-cap mutual- and hedge-fund counterparts is overall market...

Lloyd Moffatt

Sector Capsule: Personal Care Appliances in Indonesia

Headlines In 2016 volume sales of personal care appliances grow by 3% to reach 590,000 units Personal care appliances continue to be purchased...

Euromonitor International Ltd.

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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