GEM Fund Positioning Analysis, December 2022

267 Active GEM Funds, AUM $337bn GEM Fund Positioning Analysis, December2022 In this issue: Taiwan Semiconductors: Value Funds Drive Underweight Brazil Consumer Staples: Growing Conviction Emaar Properties: Record Holdings EM Stock Positioning Update   267 Active GEM Funds, AUM $337bn Taiwan Semiconductors: Value Funds Drive Underweight   Sentiment in the Taiwan Semiconductor sector remains fragile.  After a surge in exposure …

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UK Fund Positioning Analysis, December 2022

273 Active UK Funds, AUM $179bn UK Fund Positioning Analysis, December2022 In this issue: UK Health Care: Value Funds Drive Underweight UK Restaurants: Fragile Sentiment London Stock Exchange Group: Record Holdings UK Stock Radar   273 Active UK Funds, AUM $179bn UK Health Care: Value Funds Drive Underweight   Average holding weights in the UK Health Care sector have stayed …

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China Fund Positioning Analysis, December 2022

277 Active China Funds, AUM $102bn China Fund Positioning Analysis, December 2022 In this issue: MSCI China Consumer Discretionary: Reducing the Underweight China A-Share Sector Review: Industrials Gain as Financials Languish Greater China: Stock Radar   119 Active MSCI China Funds, AUM $46.2bn Consumer Discretionary: Reducing The Underweight   Active MSCI China funds are rotating back in to the Consumer …

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Global Fund Positioning Analysis, December 2022

359 Active Global Funds, AUM $947bn Global Fund Positioning Analysis, December2022 In this issue: Global Real Estate: New Lows China & HK: Underowned? Investment Banks/Brokers: Continued Momentum Vodafone: Going..Going….   359 Active Global Funds, AUM $947bn Global Real Estate: New Lows   Ownership levels in the Global Real Estate sector have hit new lows.  Average weights among active Global funds …

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Oil Refining All-Time Highs

92 ACTIVE ASIA EX-JAPAN FUNDS, AUM $49BN Oil Refining All-Time Highs 4 charts from our recent analysis on Oil Refining/Marketing positioning among active Asia Ex-Japan Equity Funds. Fund allocations in the Oil Refining/Marketing industry group have soared to new all-time highs this month.  Average fund weights hit a new peak of 1.53%, the percentage of funds overweight increased to a …

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Alibaba: Fighting Back

45 ACTIVE GREATER CHINA FUNDS, AUM $13BN Alibaba: Fighting Back 2 charts from our recent analysis on Alibaba positioning among active Greater China Equity Funds. Ownership in Alibaba Group Holdings is on the rise among active Greater China managers.  Peaking in October 2020 at 88.6% of funds invested, the subsequent Tech crackdown saw investors cut exposure, bottoming out at just …

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Asia Ex-Japan Fund Positioning Analysis, November 2022

92 Active Asia Ex-Japan Funds, AUM $49bn Asia Ex-Japan Fund Positioning Analysis, November 2022 In this issue: Asia Ex-Japan Sector Rotation Oil Refining/Marketing All-Time Highs Singapore Telecommunications: Demand Surge   92 Active Asia Ex-Japan Funds, AUM $49.5bn Sector Rotation   The make-up of sector positioning among active Asia Ex-Japan investors is changing.  Over a period of just 6-months, average weights …

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China Fund Positioning Analysis, November 2022

277 Active China Funds, AUM $102bn China Fund Positioning Analysis, November 2022 In this issue: MSCI China. Casinos/Gaming: Early Stage Recovery China A-Shares. Telecommunications Equipment Decline Greater China. Alibaba: Fighting Back   118 Active MSCI China Funds, AUM $37.5bn Casinos/Gaming: Early Stage Recovery   Ownership levels in China Casino & Gaming stocks are creeping off their all-time lows.  In the …

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The Largest Underweights in EM

278 ACTIVE GEM FUNDS, AUM $312BN Underweight Stock Risks in EM Active Emerging Market investors face a myriad of risks when constructing and running a portfolio. One of those is benchmark risk, with even the most active of managers required to state relative performance versus their benchmark. In this summary piece, we identify the largest aggregate underweight stock positions among …

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The Vodafone Exodus

276 ACTIVE UK FUNDS, AUM $161BN The Vodafone Exodus In over a decades worth of holdings data for UK active funds, ownership in Vodafone has never looked so bad. Sentiment is at rock bottom, with the number of funds holding a position at all-time lows and an increasing number of funds deciding to throw in the towel. Time Series Analysis …

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