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

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: MGM China, Yuexiu REIT, Sands China, Pertamina (Persero), Bharti Airtel, Indofood CBP, Biocon Biologics, Tata Steel</li>
<li>UST yields rose on Friday, led by the front-end, following the strong University of Michigan consumer sentiment data. The UST curve bear-flattened, partly unwinding Thursday's sharp curve-steepening move.</li>
<li>The yield on the 2Y UST rose 5 bps to 3.50%, while the yield on the 10Y UST was up 2 bps at 4.21%. Equities rebounded, with the S&amp;P 500 and Nasdaq up 2.0% and 2.2%, respectively.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: MGM China, Yuexiu REIT, Sands China, Pertamina (Persero), Bharti Airtel, Indofood CBP, Biocon Biologics, Tata Steel
UST yields rose on Friday, led by the front-end, following the strong University of Michigan consumer sentiment data. The UST curve bear-flattened, partly unwinding Thursday's sharp curve-steepening move.
The yield on the 2Y UST rose 5 bps to 3.50%, while the yield on the 10Y UST was up 2 bps at 4.21%. Equities rebounded, with the S&amp;P 500 and Nasdaq up 2.0% and 2.2%, respectively.


Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

ICICI Prudential Asset Management Company / Equity Capital Markets

ICICI Prudential Asset Management Company (ICICIAMC IN)

ICICI Prudential Asset Management Company

<ul>
<li>
<a href="https://www.smartkarma.com/entities/icici-prudential-amc" target="_blank" data-smartkarma-citation="entities:45499:1" rel="noopener">ICICI Prudential AMC</a> raised around US$1.2bn in its upcoming India IPO.</li>
<li>IPru AMC is an asset management company involved in managing mutual funds, providing portfolio management services, managing alternative investment funds, and providing advisory services to offshore clients.</li>
<li>We have looked at the past performance in our previous note. In this note, we talk about the RHP updates and valuations.</li>
</ul>



ICICI Prudential AMC raised around US$1.2bn in its upcoming India IPO.
IPru AMC is an asset management company involved in managing mutual funds, providing portfolio management services, managing alternative investment funds, and providing advisory services to offshore clients.
We have looked at the past performance in our previous note. In this note, we talk about the RHP updates and valuations.


ICICI Pru AMC IPO Trading - Last of the Big Listing Sees Big Demand, SEBI Announces TER Changes

ICICI Prudential Life Insurance / Equity Capital Markets

ICICI Prudential Life Insurance (IPRU IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/icici-prudential-amc" target="_blank" data-smartkarma-citation="entities:45499:1" rel="noopener">ICICI Prudential AMC</a> is looking to raise about US$1.2bn in its upcoming India IPO.</li>
<li>IPru AMC is an asset management company involved in managing mutual funds, providing portfolio management services, managing alternative investment funds, and providing advisory services to offshore clients.</li>
<li>We have looked at the past performance in our previous note. In this note, we talk about the RHP updates and valuations.</li>
</ul>



ICICI Prudential AMC is looking to raise about US$1.2bn in its upcoming India IPO.
IPru AMC is an asset management company involved in managing mutual funds, providing portfolio management services, managing alternative investment funds, and providing advisory services to offshore clients.
We have looked at the past performance in our previous note. In this note, we talk about the RHP updates and valuations.


ICICI Pru AMC IPO - Doesn’t Need to Trade at a Discount

<ul>
<li>
<a href="https://www.smartkarma.com/entities/icici-prudential-amc" target="_blank" data-smartkarma-citation="entities:45499:1" rel="noopener">ICICI Prudential AMC</a> is looking to raise about US$1bn in its upcoming India IPO.</li>
<li>IPru AMC is an asset management company involved in managing mutual funds, providing portfolio management services, managing alternative investment funds, and providing advisory services to offshore clients.</li>
<li>In this note, we look at the company’s past performance.</li>
</ul>



ICICI Prudential AMC is looking to raise about US$1bn in its upcoming India IPO.
IPru AMC is an asset management company involved in managing mutual funds, providing portfolio management services, managing alternative investment funds, and providing advisory services to offshore clients.
In this note, we look at the company’s past performance.


ICICI Pru AMC Pre-IPO - Ticking All the Right Boxes

Physicswallah Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/physicswallah-limited" target="_blank" data-smartkarma-citation="entities:45792:1" rel="noopener">Physicswallah</a> is looking to raise about US$434m in its upcoming India IPO.</li>
<li>Physicswallah Ltd (PWL) offers test preparation courses for competitive examinations, and other courses such as for upskilling, across 13 education categories, including JEE, NEET, and UPSC, among others.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Physicswallah is looking to raise about US$434m in its upcoming India IPO.
Physicswallah Ltd (PWL) offers test preparation courses for competitive examinations, and other courses such as for upskilling, across 13 education categories, including JEE, NEET, and UPSC, among others.
In this note, we talk about the positive aspects of the deal.


Physicswallah Pre-IPO - The Positives - Has Had a Dream Run

India

Tata Steel Limited is an Indian multinational steel company that manufactures and distributes a wide range of steel products, including hot-rolled, cold-rolled, and galvanized steel, tubes, and wire rods. The company serves diverse sectors such as automotive, construction, engineering, and consumer goods. Tata Steel is headquartered in Mumbai, India, and was founded on August 26, 1907.

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Tata Steel (TATA IN)

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: MGM China, Yuexiu REIT, Sands China, Pertamina...

Lucror Analytics

ICICI Pru AMC IPO Trading - Last of the Big Listing Sees Big Demand, SEBI Announces TER Changes

ICICI Prudential AMC raised around US$1.2bn in its upcoming India IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

ICICI Pru AMC IPO - Doesn’t Need to Trade at a Discount

ICICI Prudential AMC is looking to raise about US$1.2bn in its upcoming India IPO. In this note, we talk about the recent updates and valuations.

Sumeet Singh

ICICI Pru AMC Pre-IPO - Ticking All the Right Boxes

ICICI Prudential AMC is looking to raise about US$1bn in its upcoming India IPO. In this note, we look at the company's past performance.

Sumeet Singh

Physicswallah Pre-IPO - The Positives - Has Had a Dream Run

Physicswallah is looking to raise about US$434m in its upcoming India IPO. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

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