Paul Smith, the CEO of the CFA Institute, was on CNBC this week to briefly discuss the future of the investment profession. Here is the link to the video. Below are some highlights from his interview: Majority of CFA members feel that the finance industry is at an inflection point Structural headwinds include regulation, demographics and the rise […]
The Story of Vitasoy
Fascinating article in the SCMP this week on the early history and brand evolution of Vitasoy. The soy milk drinks company was founded in 1940 by Dr. Kwee Seong Lo as a way to fight malnutrition among Hong Kong’s fast-growing and largely lactose intolerant immigrant population from Mainland China. According to the article, the business struggled in its first year and […]
Perinvest Comments On APTT
James Morton’s February letter for the Asia Dividend Equity Fund is now available via the Perinvest website. One of the fund’s current holdings is the Asian Pay Television Trust (APTT), an SGX-listed business trust focused on pay-TV businesses in Asia. APTT has an investment mandate to acquire controlling interests and to own, operate and maintain mature, cash generative pay-TV and broadband […]
Readings For The Week (2/4)
This week’s readings include SIHL’s 2016 annual report, Petra Capital’s 4Q 2016 letter to investors, Carrie Lam’s keynote speech at the recently concluded Credit Suisse Asian Investment Conference and an interview with Vanguard’s CEO on the future of investment management. Also, in case you missed it, see my write-up of Cheah Cheng Hye’s recent talk at a Star […]
Matthews Asia: Outlook for Japanese Equities
Interesting piece published recently by Matthews Asia on their outlook for Japanese equities in 2017. Similar in tone to Peter Tasker’s (shorter) article on the brightening message from small cap Japan. Some excerpts / highlights from the report, paraphrased: Number of structural factors supporting Japanese equities in 2017 Improved Purchasing Managers’ Indexes (PMI), accelerating wage growth and the Japanese government’s decision […]
Orbis Adds To Dongfeng Motor Group
Orbis Investment Management (Orbis) added to their stake in HK-listed Dongfeng Motor Group (Dongfeng). According to a filing made to the Hong Kong Stock Exchange on March 27th, 2017, the firm bought 820,000 shares on the exchange at an average price of HKD 9.056 per share on March 22nd (total consideration was ~US$956,000). Following the purchase, their stake in Dongfeng increased from 5.98% to […]
Edgbaston Reduces Stake In Singamas
Edgbaston Investment Partners (Edgbaston) recently trimmed their stake in HK-listed Singamas Container Holdings (Singamas). According to a filing made to the Hong Kong Stock Exchange on March 27th, 2017, the firm sold 432,000 shares on the exchange at an average price of HKD 1.211 per share on March 22nd (total consideration was ~US$67,000). Following the sale, their stake in Singamas decreased slightly […]
Value Partners Trims Stake in TK Group
Value Partners recently trimmed their stake in HK-listed TK Group Holdings (TK Group). According to a filing made to the Hong Kong Stock Exchange on March 24th, 2017, the firm sold 696,000 shares on the exchange at an average price of HKD 2.517 per share on March 21st (total consideration was ~US$225,500). Following the sale, their stake in TK Group decreased from 8.03% […]
Cheah Cheng Hye On Star Media
Cheah Cheng Hye, the founder of Value Partners, was a recent guest on Star Media’s Power Talks series. The event was held in Malaysia. He gave a speech about some of the lessons he has learnt over the course of his ~46 year career as both a journalist and an investment manager. He also answered audience questions on a wide range […]
Briarwood Adds To Zhong Ao Home Group
Briarwood Capital Partners (Briarwood) recently added to their stake in HK-listed Zhong Ao Home Group (Zhong Ao). According to a filing made to the Hong Kong Stock Exchange on March 23rd, 2017, the firm purchased 578,000 shares on the exchange at an average price of HKD 1.16 per share on March 22nd (total consideration was ~US$86,000). Following the purchase, Briarwood’s stake […]