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...Together, these account for about 30 per cent of all QDII funds that target non-Hong Kong overseas markets....
...UK fund manager Lindsell Train, Ricky Sandler’s Eminence Capital and Chicago-based Ariel Investments are among the biggest holders of the A shares, which are largely held by non-family shareholders....
...Despite the big private equity funds of megashops such as Blackstone dominating headlines, leveraged buyouts are still mostly a small- and mid-cap phenomenon. That’s where private equity likes to play....
...NBIM is mostly a massive index fund, and adding private equity to the mix (in an overwhelmingly social-democratic country like Norway) was always going to be a big ask....
...It’s a fun fact that one of the best performing investors in the world is the S&P 500 index committee. Over the past 20 years, their picks have now beaten 97 per cent of all US equity funds....
...BondBloxx has rolled out three ETFs that offer exposure to triple B rated corporate bonds....
...Brian Kraus, senior vice-president of systematic ETFs at Hartford Funds, said investors would nonetheless be wise to focus on the gap between US and non-US valuations....
...His Berkshire Hathaway B class shares, at $420, offer a relatively cheaper entry....
...When the Tokyo stock market closed on Wednesday afternoon, the sun was shining, a weekend of cherry blossoms lay in prospect and the once leaden-footed Topix index — the broad benchmark of corporate Japan...
...The pension fund announcement is of a similar ilk. UK pensions have lower allocations to domestic equities than pension funds in many other countries....
...GQG’s flagship EM Equity Fund has cut its China allocation to 5 per cent from 40 per cent and redeployed the capital to markets from India to Saudi Arabia over the past five years....
...The dramatic rise of index investing in the US might be one factor driving the increase in non-US public companies looking to switch their stock market listings stateside, according to some market observers...
...The UK SMID-cap index is even on a sharp discount to UK Large Cap — more than one standard deviation below the 10y average. [enlarge] Here comes the B word. Peak hard Brexit angst?...
...Among the striking examples in the sector, stocks in the UK’s BAE Systems have climbed by 15 per cent this year — streets ahead of the broader UK index....
...equity index weightings....
...European institutions hold more than $11tn of US equities and debt last year, according to the Federal Reserve....
...Since then, brokers say the overwhelming (some estimate as much as 90 per cent) of money has been directed at funds tracking global equity markets and, in particular the US S&P 500 index....
...Moreover, it’s not like non-private equity owned public companies don’t borrow money either. But they are relatively less leveraged....
...Return on equity has nudged up, from about 8 per cent in early 2023 to 10 per cent this month....
...If so, this might have increased the desire by hedge funds and other players to borrow stock in order to build short exposure to these now overvalued equities....
...Non-performing loans have fallen to 5 per cent, down from a peak of perhaps 40 per cent. Returns on equity are in the double digits, trending towards the European average....
...This is how a portfolio manager framed their purchase of Chinese equities on a recent Bloomberg show....
...This is potentially a big deal, given the size of Norges Bank Investment Management and its status as the world’s biggest and broadest de facto index fund....
...Data showed China’s services and construction sectors ticking up in January, with the non-manufacturing purchasing managers’ index rising to its highest level since September....
...Carlyle is raising new funds in Europe and Asia where predecessor funds have also posted net annualised returns of 10 per cent or lower, according to filings, though the funds still have a handful of years...
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