Smartkarma Originals
APAC Insurers Series (#2): AIA or Prudential?
Pru’s recent correction offers investors an opportune window to buy into its premium franchise (vs. AIA), although both stocks provide investors...
924 Views
2024 High Conviction: Underwriting Prudential’s Investment Case into 2024
Prudential plc's share prices have gone up by c. 40% in London and 50% in Hong Kong YTD. The thesis we highlighted in this note remains largely...
646 Views
The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (November 27)
Hong Kong market continues to consolidate during the early stage of its Secular Bull Market. Strength and momentum indicators show further...
280 Views
Pre-IPO FWD Group Holdings (PHIP Updates) - The Pain Points and the Outlook
Based on IPO pricing of HK$38, P/B is 1x, lower than AIA (2.3x), Prudential (1.8x).But if based on embedded value (EV), P/EV of FWD, AIA,...
798 Views
FWD IPO Trading - Tepid Demand
FWD Group Holdings (1828 HK), a pan-Asian life insurer founded by Richard Li, raised around US$442m in its HK IPO. In this note, we talk about the...
578 Views