Information Technology Consultant

Ishita Jain

Thematic (Sector/Industry)

From retail deliveries to agriculture, drones have pervaded our day to day lives in a manner never envisaged before. Reserved only for the military just a few years ago, drones are quickly becoming favorites in many industries due to their low cost, ease of operation and effectiveness in carrying out otherwise manual tasks. This article sets out to introduce the industry and offer some ideas on how to invest in it.

From retail deliveries to agriculture, drones have pervaded our day to day lives in a manner never envisaged before. Reserved only for the military just a few years ago, drones are quickly becoming favorites in many industries due to their low cost, ease of operation and effectiveness in carrying out otherwise manual tasks. This article sets out to introduce the industry and offer some ideas on how to invest in it.

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Equity Bottom-Up

Tencent is China's largest Internet service provider based on its two key social networking platforms, Weixin and QQ.Through connecting users with content, services and hardware, Tencent has won the loyalty of several hundred million subscribers.Our fair value estimate for Tencent has increased to HK$161 per share after we made upward revisions to online advertising revenue growth, which is partly offset by downsized online gaming revenue growth and near-term margin pressure.Analyst: Marie Sun

Tencent is China's largest Internet service provider based on its two key social networking platforms, Weixin and QQ.Through connecting users with content, services and hardware, Tencent has won the loyalty of several hundred million subscribers.Our fair value estimate for Tencent has increased to HK$161 per share after we made upward revisions to online advertising revenue growth, which is partly offset by downsized online gaming revenue growth and near-term margin pressure.Analyst: Marie Sun

This Chinese Internet Giant Is Riding the Mobile Wave.

Tencent announced that, as of March 1, its super app Weixin will charge 0.1% commission fees for each transfer from Weixin Payments to customers' personal bank accounts, if the individual user’s accumulated amount contains more than CNY 1,000 ($150).We think most Weixin users will keep using Weixin, as their transaction amounts are small, and online and offline purchases using Weixin Payments will not be affected.Analyst: Marie Sun

Tencent announced that, as of March 1, its super app Weixin will charge 0.1% commission fees for each transfer from Weixin Payments to customers' personal bank accounts, if the individual user’s accumulated amount contains more than CNY 1,000 ($150).We think most Weixin users will keep using Weixin, as their transaction amounts are small, and online and offline purchases using Weixin Payments will not be affected.Analyst: Marie Sun

Kill Two Birds With One Stone: Tencent to Charge Weixin Payment Users Fees for Cash Withdrawal

Differentiated global TMT & Internet Research

New Street Research Insights

New Street Research

Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
US Healthcare
Japanese Healthcare

We also provide debt research on:
Pan European Telecom Services and Cable

The market seems to view <a href="https://www.smartkarma.com/entities/26" target="_blank" data-smartkarma-citation="entities:26">Tencent Holdings Ltd</a> (Tencent) as an online games company which also owns WeChat (the WhatsApp of China). We think this under represents the potential at Tencent. For a start Tencent also owns mobile QQ and the two platforms have the highest number of monthly active users (MAU) and highest average usage in China. Tencent is able to monetize directly through games and indirectly through high user engagement. Tis high level of engagement is attractive to advertisers while evolving advertising technology (Adtech) should enhance growth prospects. We expect Tencent's ad growth top be 3x that at <a href="https://www.smartkarma.com/entities/179" target="_blank" data-smartkarma-citation="entities:179">Baidu Inc Spon Adr</a> (BIDU) in the next 5 years, mirroring the experience of Facebook vs Google in the US. Tencent remains a key thematic idea at New Street Research as it increasingly monetizes its vast user base. The current share price correction looks like an opportunity.

The market seems to view Tencent Holdings Ltd (Tencent) as an online games company which also owns WeChat (the WhatsApp of China). We think this under represents the potential at Tencent. For a start Tencent also owns mobile QQ and the two platforms have the highest number of monthly active users (MAU) and highest average usage in China. Tencent is able to monetize directly through games and indirectly through high user engagement. Tis high level of engagement is attractive to advertisers while evolving advertising technology (Adtech) should enhance growth prospects. We expect Tencent's ad growth top be 3x that at Baidu Inc Spon Adr (BIDU) in the next 5 years, mirroring the experience of Facebook vs Google in the US. Tencent remains a key thematic idea at New Street Research as it increasingly monetizes its vast user base. The current share price correction looks like an opportunity.

Tencent's Multiple Platforms Deliver Key Advantages

Global Asset Allocation, Politics & Governance, Ecstrat

John-Paul Smith

Global Asset Allocation, Politics & Governance

Ecstrat

Ecstrat is a consultancy advising on asset allocation between global equity markets, with a focus on the intersection of governments, geopolitics, governance and markets.
 
Over the past few years and more especially since the Great Financial Crisis (GFC), investors have become more focused on short-term market movements and real-time returns and have consequently neglected the analysis of the underlying structural themes that underpin longer term performance.
​
More specifically we believe that the evolution of governance-based relationships between investors, controlling shareholders, labour and the state is one of the primary determinants of both relative and absolute performance between individual equity markets.
 
We will endeavour to provide investors with some of the context surrounding governance-related issues which encompass many different disciplines including history, economics and political science, as well as the financial metrics which are the most obvious manifestation of the structural characteristics of each market.
 
We will pay particular attention to the shifts and potential inflection points for governance in individual markets as these are often the best lead indicators for both economic and market performance.

Cross Asset Strategy

In January’s ‘Government and Markets’ report, we used the themes in the 2016 GEM overview and China outlooks to introduce our intra-GEM country weightings.We provide more detail on each of these countries in the full version of this report, focusing on the economic, financial and structural governance issues that we believe will be the most important market drivers over the course of this year and beyond.

In January’s ‘Government and Markets’ report, we used the themes in the 2016 GEM overview and China outlooks to introduce our intra-GEM country weightings.We provide more detail on each of these countries in the full version of this report, focusing on the economic, financial and structural governance issues that we believe will be the most important market drivers over the course of this year and beyond.

Governance, Valuations and the Crisis of State Capitalism

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

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Tencent Holdings (ADR) (TCEHY US)

Investing in Drones

From retail deliveries to agriculture, drones have pervaded our day to day lives in a manner never envisaged before. Reserved only for the military...

Ishita Jain

This Chinese Internet Giant Is Riding the Mobile Wave.

Tencent is China's largest Internet service provider based on its two key social networking platforms, Weixin and QQ.Through connecting users with...

Morningstar, Inc.

Kill Two Birds With One Stone: Tencent to Charge Weixin Payment Users Fees for Cash Withdrawal

Tencent announced that, as of March 1, its super app Weixin will charge 0.1% commission fees for each transfer from Weixin Payments to customers'...

Morningstar, Inc.

Tencent's Multiple Platforms Deliver Key Advantages

The market seems to view Tencent Holdings Ltd (Tencent) as an online games company which also owns WeChat (the WhatsApp of China). We think this...

New Street Research

Governance, Valuations and the Crisis of State Capitalism

In January’s ‘Government and Markets’ report, we used the themes in the 2016 GEM overview and China outlooks to introduce our intra-GEM country...

John-Paul Smith

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)