China: EM Active Fund Positioning Update. BABA Drives Allocations Lower
China allocations fall to 2-year low, driven by widespread closures in Alibaba Group, New Oriental Education, China Mobile and CNOOC Ltd.
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“Buy the Worst” Strategy into Year 3: What's on for 2022 to Beat the HSI?
Our "Buy the Worst" strategy outperformed HSI by a massive 26.1pp YTD. For 2022, new names are Haidilao, Ali Health, Alibaba, Sands China and...
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Chervon Holdings IPO Trading - Lukewarm Demand
Chervon Holdings Limited (CHL) raised around US$400m in its Hong Kong IPO. In this note, we talk about the trading dynamics.
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Chervon Holdings IPO - Valuation
Even though smaller in size, we don’t think Chevron deserves to trade at a discount to its closest peer Techtronic, especially not as much as 41%,...
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Chervon Holdings IPO - Valuation Isn’t Demanding, but Timing Is
Chervon Holdings Limited (CHL) plans to raise around US$400m in its Hong Kong IPO. In this note, we undertake a peer comparison and talk about...
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