Hints and tips:
...(Alphaville believes that using L’Oréal as an O is cheating, even if it makes your acronym look nicer.)...
...“They had good performance so could still show growth even though active management was struggling,” said Brennan Hawken, an analyst at UBS....
...The US alternative asset manager has told investors it will wind down the Blackstone Diversified Multi-Strategy fund by the end of the year....
...Europe also boasts the Amundi MSCI India II Ucits ETF, which tracks the same index as the iShares ETF, and the L&G India INR Government Bond Ucits ETF, for those interested in fixed income....
...Researchers from UBS investment bank have downgraded their forecasts for the country’s economic growth from 5.2 per cent to 4.8 per cent in 2023, citing a downturn in China’s dominant property sector, waning...
...But it remains the market that is expected to power growth....
...The performance of the S&P 500 index is now the most concentrated it has been since the 1970s....
...Over the past 10 years, the 1.5 per cent the FTSE 100 has returned annually on average has been dwarfed by the 9.7 per return an investor in the S&P 500 has enjoyed....
...However, the bank said it anticipated “downside risks for consensus [full-year] estimates later in the year given the prospect of slowing GDP growth, weaker margins and growing FX headwinds”....
...If not, how can they build a globally diversified equities portfolio without the world’s second-largest economy? Can the dragon ride high again?...
...But it raises a question: how diversified are those revenues? JPMorgan and Citigroup’s FICC businesses are more diversified than Goldman Sachs....
...The S&P 500 is often used as the default comparison because of its ubiquity, but, in reality, it’s a poor benchmark for private equity returns given how top-heavy it is....
...SSGA and Invesco were hurt by limited demand for their flagship growth-oriented SPY [tracking the S&P 500] and QQQ [Nasdaq 100] products as less expensive alternatives and more dividend/low-volatility/equal-weighted...
...BUY: Lok’n Store (LOK) The storage company’s development pipeline is the key to driving its growth, writes Mark Robinson....
...Group 2022 constant FX sales growth would have been 25 per cent without China, instead of the 4.6 per cent reported....
...But it’s notable that the Invesco and L&G funds are much more diversified by this measure, lessening their stock-specific risk as well as the uplifts that could come from certain prominent names performing...
...UBS veteran Mark Lewisohn is leaving the Swiss bank after 33 years, per Financial News....
...The California-based firm “was a perfect representation of the way the [fund management] business used to be”, says Brennan Hawken, an analyst at UBS....
...Meanwhile, Leda Braga’s Systematica was up nearly 18 per cent, helped by bets on commodities and bonds, and Aspect Capital is up 21.5 per cent in its Diversified fund....
...FY20F guidance for c.£3.7bn revenue, 9% organic revenue growth and £135-150m underlying EBITA has been reiterated (despite a £1.5m increase in FX headwinds since the June IMS)....
...Buying a basket of stocks that fit within the same theme or subsector could be a more diversified source of exposure to such trends....
...The price target is £2.0 assuming 3x P/E (half our normal valuation pending dilution), 4x EV/EBITDA....
...France L&S and Italy will not pay dividends this year, and XL Bermuda is unlikely to. The slack is only partly taken up by France P&C which is over distributing....
...However, Staples growth is often illusionary and simply the pass through of EM inflation which is then lost in FX depreciation; using our inflation adjusted growth framework Carlsberg screens increasingly...
...The S&P 500 ended 1.9 per cent higher on Tuesday to record its third straight daily advance. The tech-heavy Nasdaq added 1.8 per cent....
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