Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Dr. Manishi Raychaudhuri, with nearly three decades of experience in Asian Equities in the roles of APAC Head of Equity Research, Asian Equity Strategist and Analyst across various sectors, brings a unique cross border and cross-industry perspective to the process of investment strategy and asset allocation. He worked in senior leadership roles at BNP Paribas and UBS across Mumbai and Hong Kong. Prior to UBS, he was with ICICI Securities, then a JV with JP Morgan.

Manishi marries top-down macro-economic outlook with bottom-up sector themes to create unique alpha generative portfolios for clients. Manishi's Asia ex Japan equity model portfolio consistently generated significantly higher returns than the benchmark MSCI index over a decade. In addition to the macro strategy product, Manishi regularly publishes on key thematic ideas, creating custom baskets for investors.

A frequent participant in discussions in the print and electronic media, Manishi has been frequently interviewed by Bloomberg TV, CNBC, CNBC Arabia, Asharq Bloomberg, CNBC TV18, ET Now, NDTV Profit and several other channels. He has been widely quoted in Financial Times, Thomson Reuters, Wall Street Journal, South China Morning Post, Barron's, Forbes India, The Economic Times, Business Standard and other leading publications.

Chief Executive Officer

Asian Equities: Southbound Monthly - Slowdown in August but Renewed Enthusiasm for Tech Superstars

Asian Equities: Southbound Monthly- Below September's BABA Exuberance Biotech Continued to Flourish

Asian Equities: Southbound Zeal Dips; Some Established Themes Looking Tired, Others Rejuvenated.

Asian Equities: Southbound Monthly - June Acceleration; Old Getting Sold, Dividends the New Darling

Asian Equities: Southbound Flows Turning to Dividends and Beaten Down Sectors

Tencent/Netease: One Approval for Tencent in June

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Cross Asset Strategy

<ul>
<li>July’s $17.28 bn inflow through Southbound was almost triple of that of the May low ($5.85bn). The flows are now on track to recovering to the March-April peak of $20-22bn.</li>
<li>Investors continue buying dividend plays (CCB), sharp decliners (Meituan), policy beneficiaries (SMIC). Kuaishou and Alibaba were bought after being sold recently. Biotechnology (Innovent, Akeso) and insurance (ChinaLife) are new favorites.</li>
<li>Expensive consumers and consumer proxies (Pop Mart, Tencent, Xiaomi) continue to be sold. Last three months selling in Xiaomi and Tencent have almost wiped out their cumulative 12 month's buying.</li>
</ul>


July’s $17.28 bn inflow through Southbound was almost triple of that of the May low ($5.85bn). The flows are now on track to recovering to the March-April peak of $20-22bn.
Investors continue buying dividend plays (CCB), sharp decliners (Meituan), policy beneficiaries (SMIC). Kuaishou and Alibaba were bought after being sold recently. Biotechnology (Innovent, Akeso) and insurance (ChinaLife) are new favorites.
Expensive consumers and consumer proxies (Pop Mart, Tencent, Xiaomi) continue to be sold. Last three months selling in Xiaomi and Tencent have almost wiped out their cumulative 12 month's buying.


Semiconductor Manufacturing International Corp (SMIC) (981 HK)

Semiconductor Manufacturing International Corp (SMIC)

Asian Equity: Southbound Monthly- July Boom; New Darlings: Insurance, Biotech; Pricey Consumers Sold