EM Fund Stock Picks & Country Commentaries (June 9, 2024)
India's election surprise + Indian stocks, look at the bright side of SA elections, year of the ballot, Vietnamese stocks improved reporting, commodities most undervalued state in market history, etc.
As of early June, more April or May factsheets have become available while various funds also have new pieces about India or the Indian elections:
Matthews Asia has these pieces:
🎬🇮🇳 What Investors Need to Know about India’s Election Shock (5:01 Minutes) - Portfolio Manager Peeyush Mittal shares his insights on India’s recent election results and the impact to Indian equities.
🇮🇳 Making Sense of India’s Election Shock - Portfolio Manager Peeyush Mittal says even as Narendra Modi looks set to remain as Prime Minister, India’s domestic growth agenda faces a pause until the political landscape takes shape following the country’s elections.
Franklin Templeton has these pieces:
🇮🇳 Emerging Markets Insights: India elects - India’s election, China’s IPO pipeline and US interest rates are on the radar of our Emerging Markets Equity team in this issue. The team shares its latest outlook.
🇮🇳 India’s post-election growth outlook and investment opportunities - Following the results from India’s weeks-long elections, Hari Shyamsunder, Senior Client Portfolio Manager for Franklin Templeton Emerging Markets Equity, discusses the implications of the electoral outcome. Hari also explores the key trends stimulating India’s economic growth and its long-term investment outlook.
🇮🇳 India elections: reduced BJP majority, but growth remains the focus - Regarding India’s elections, it is important to focus on the long term, and our Emerging Markets Equity team does not anticipate significant policy changes in Modi’s likely third term.
🚨 Wealth Briefing has this piece quoting various India fund managers about the recent election results: Wealth Briefing: Investment Managers React To India’s Election Result Surprise - With the Indian Prime Minister Narendra Modi set to retain power after the general election – albeit with the Bharatiya Janata Party (BJP) losing its outright parliamentary majority for the first time in 10 years – investment managers discuss the impact.
The Association of Investment Companies (AIC) - UK had this piece a month ago mentioning a few Indian trusts: Jewel in the crown - How Ian Cowie fell in love with Indian trusts.
📈🇮🇳 JPMorgan Indian Investment Trust plc (LON: JII)’s April commentary (a couple of paragraphs) is now available. It noted contributors had included commodity derivatives exchange Multi Commodity Exchange Of India (NSE: MCX / BOM: 534091), Indian conglomerate Mahindra & Mahindra (NSE: M&M / BOM: 500520 / OTCMKTS: MAHMF), and Eicher Motors (NSE: EICHERMOT / BOM: 505200) - the listed parent of Royal Enfield, the global leader in middleweight motorcycles. Kotak Mahindra Bank (NSE: KOTAKBANK / BOM: 500247) was a detractor as the RBI imposed restrictive actions against its digital and credit card business.