Global Head of Research & Head of Europe, Lucror Analytics

Felix Fischer

Global Head of Research & Head of Europe

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

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:
<ol>
<li><a href="https://www.smartkarma.com/entities/vedanta-resources-ltd" target="_blank" rel="noopener">Vedanta Resources</a></li>
<li><a href="https://www.smartkarma.com/entities/meituan" target="_blank" rel="noopener">Meituan</a></li>
<li><a href="https://www.smartkarma.com/entities/yankuang-energy-group" target="_blank" rel="noopener">Yankuang Energy Group</a></li>
<li><a href="https://www.smartkarma.com/entities/genting-bhd" target="_blank" rel="noopener">Genting Bhd</a></li>
<li><a href="https://www.smartkarma.com/entities/delhi-international-airport" target="_blank" rel="noopener">Delhi International Airport Limited</a></li>
</ol>
and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:

Vedanta Resources
Meituan
Yankuang Energy Group
Genting Bhd
Delhi International Airport Limited

and more...

In our latest Asia Monthly, we discuss the performance of major Asian credit indices and review UST curve movements in August 2024. We also provide a recap of major news and macroeconomic releases, including those from the US, China, India, Indonesia and Japan. In addition, we summarise the Top/Bottom performers, recent USD bond issuances and rating actions in Asian corporate credit, as well as a list of our recent research. The Asia Monthly publication serves to keep investors updated on developments in the Asian corporate USD bond market.

  In our latest Asia Monthly, we discuss the performance of major Asian credit indices and review UST curve movements in August 2024. We also provide a recap of major news and macroeconomic releases, including those from the US, China, India, Indonesia and Japan.   In addition, we summarise the Top/Bottom performers, recent USD bond issuances and rating actions in Asian corporate credit, as well as a list of our recent research. The Asia Monthly publication serves to keep investors updated on developments in the Asian corporate USD bond market. 

Asia Monthly - August 2024 In Review - Lucror Analytics

Founder-CEO & Chief Analyst, Real Estate Foresight

Robert Ciemniak

Founder-CEO & Chief Analyst

Real Estate Foresight

Since 2012, REF has been helping investors with market research, project due diligence, and strategy development. This has ranged from detailed assessments and estimates on distressed developers' project portfolios to market due diligence on specific projects to macro-level questions linked to demand for commodities. The unique combination of the housing markets and developer data from data partner China Index Academy in Beijing, primary research, and technology-powered alternative data collection from public sources result in a valuable content set used in REF analytics and reports.

Predictive Analytics for China Property

Thematic (Sector/Industry)

<ul>
<li>This note is a weekly (select weeks on SK) curated selection of Chinese news articles and company announcements focused on developers in distress</li>
<li>We look for their deals, updates, specific project progress news ('local signals'), as well as relevant local research commentaries about the market</li>
<li>We do not verify the underlying data or provide any opinion, we only select and summarize the information; See direct links to the sources</li>
</ul>


This note is a weekly (select weeks on SK) curated selection of Chinese news articles and company announcements focused on developers in distress
We look for their deals, updates, specific project progress news ('local signals'), as well as relevant local research commentaries about the market
We do not verify the underlying data or provide any opinion, we only select and summarize the information; See direct links to the sources


China Property Developers In Distress - Weekly News & Announcements Tracker | Sep 21-26, 2024

Macroeconomics

<ul>
<li>It's often not what it seems when it comes to reading China's official data for new home sales, and the construction indicators for New Starts, Completions, and Under-Construction area</li>
<li>From a demand-supply perspective, the Under-Construction figures seem heavily over-estimated, given the way new starts are counted, industry practices, and 'dead supply'; closer to 4bn rather than 7bn sqm</li>
<li>The gap between sales and completions has more to do with data collection and definitions than the actual 'gap' - a much smaller problem than publicized</li>
</ul>


It's often not what it seems when it comes to reading China's official data for new home sales, and the construction indicators for New Starts, Completions, and Under-Construction area
From a demand-supply perspective, the Under-Construction figures seem heavily over-estimated, given the way new starts are counted, industry practices, and 'dead supply'; closer to 4bn rather than 7bn sqm
The gap between sales and completions has more to do with data collection and definitions than the actual 'gap' - a much smaller problem than publicized


China Housing: Demand-Supply Fundamentals - Part #3: Solving The Construction Indicators Puzzle

Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Listed Real Estate Asia

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

<ul>
<li>Today news reported that China has announced policy where mortgage holders can negotiate with banks on their rates.  We think this is a strong boost to the sentiment</li>
<li>Despite today sector is up 3-11%, valuation is at all time low and we think the risk reward profile is attractive, especially macro environment is turning more favorable</li>
<li>We think there can be potential upside of 40-200% depending on stock selection.  We also identify 5 factor that can drive a sector rerating</li>
</ul>


Today news reported that China has announced policy where mortgage holders can negotiate with banks on their rates.  We think this is a strong boost to the sentiment
Despite today sector is up 3-11%, valuation is at all time low and we think the risk reward profile is attractive, especially macro environment is turning more favorable
We think there can be potential upside of 40-200% depending on stock selection.  We also identify 5 factor that can drive a sector rerating


What Is the Upside if Buy China RE Stocks? Valuation Is All-Time Low, 5 Factors to Drive Re-Rating

Hong Kong

Shimao Property Holdings Limited develops real estate projects in China.

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Shimao Property Holdings (813 HK)

Weekly Wrap - 20 Sep 2024

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics

Asia Monthly - August 2024 In Review - Lucror Analytics

In our latest Asia Monthly, we discuss the performance of major Asian credit indices and review UST curve movements in August 2024. We also...

Lucror Analytics

China Property Developers In Distress - Weekly News & Announcements Tracker | Sep 21-26, 2024

This note is a weekly (Sep 20-26, 2024; select weeks on SK) curated selection of Chinese news articles and company announcements focused on...

Robert Ciemniak

China Housing: Demand-Supply Fundamentals - Part #3: Solving The Construction Indicators Puzzle

On Aug 23, China's Ministry of Housing and Urban-Rural Development (MoHURD) shared their estimate of the scale of the issue with the 'sold-not...

Robert Ciemniak

What Is the Upside if Buy China RE Stocks? Valuation Is All-Time Low, 5 Factors to Drive Re-Rating

We think there can be 40-200% potential upside if we buy China RE stocks now. Valuation is at all time low, there is government policy support,...

Jacob Cheng

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)