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Emerging Market Skeptic
EM Fund Stock Picks & Country Commentaries (May 19, 2024)
EM Fund Stock Picks

EM Fund Stock Picks & Country Commentaries (May 19, 2024)

Understanding the AI supply chain in Asia, growth drivers in Asia, why commercially experienced & skilled directors are valuable, growing EM dividends, why & where of EM, new April factsheets, etc.

May 19, 2024
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Emerging Market Skeptic
Emerging Market Skeptic
EM Fund Stock Picks & Country Commentaries (May 19, 2024)
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As of mid-May, more April factsheets and research have become available:

  • 📈 AFC Asia Frontier Fund’s April newsletter (detailed economic and portfolio) is available and discussed or mentioned Kazakh Fintech-super app KASPI (LON: 80TE / FRA: KKS); Vietnamese IT services stock FPT Corp (HOSE: FPT), port operator Gemadept (HOSE: GMD), luxury car dealer Hang Xanh Motors Service JSC (HOSE: HAX); Bangladesh generic pharma stock Beximco Pharmaceuticals (DSE: BXPH / LON: BXP / FRA: R2WA) and branded-generic drugmaker Square Pharmaceuticals (DSE: SQPH); Sri Lankan banks Commercial Bank of Ceylon PLC (CSE: COMB / COMBt) and Hatton National Bank (CSE: HNB / HNBt); and other frontier market stocks:

    • AFC Iraq Fund and AFC Asia Frontier Fund Outperform Global Markets - April 2024 Update - Returns in April were again broad-based, with gains led by Iraq, Mongolia, Sri Lanka, Pakistan, Cambodia, and Georgia. Negative performance contributors during the month were Bangladesh, Vietnam, Kazakhstan, and Uzbekistan.

    • 🇻🇳 AFC Vietnam Fund’s April newsletter mentioned or discussed several Vietnamese stocks plus discussed the strong USD, the VN-Index, the anti-corruption campaign and market rumours, and the export and consumer sectors.

    • 🇺🇿 AFC Uzbekistan Fund’s April newsletter gave a capital markets update that noted how the Tashkent Stock Exchange is a bit of a "walled garden" suffering from next to no international connectivity; but once this bottleneck is resolved via approved legislation, they anticipate this will be the catalyst for the next re-rating. The earnings of Qizilqum Cement (TSE: QZSM), the country's second-largest cement producer, and the The Uzbek Commodity Exchange (TSE: URTS) were also briefly discussed.

    • 🇺🇿 Pyramids & Pagodas also has this interesting podcast albeit the AFC fund is probably the only way professional investors can access the Uzbek market right now: Ep 7. Uzbekistan – Emerging from the shadows of obscurity and onto investors' radars (1:02:25 Hours) - Scott Osheroff, CIO of the Asia Frontier Capital AFC Uzbekistan Fund tells us of a booming stock market, bold reforms, and easy access for retail investors.

    • 🇵🇰 AFC’s Ruchir Desai did this webinar with KTrade Securities: Frontier Market Investment Landscape and Pakistan Outlook | Webinar | with Ruchir Desai (52:07 Minutes)

    • 🇮🇶 AFC Iraq Fund’s April newsletter (economic and portfolio) noted how Iraq’s stock market rallied during the recent Israel-Iran spat.

  • abrdn has the following general emerging market pieces:

    • This piece is short: Emerging market debt April 2024 review and outlook - Our summary of developments in emerging market debt in April 2024 and outlook.

    • 🚨🇿🇦 South Africa: an era-defining election - We try to make sense of the South African election, including what a potential coalition government might mean for investors.

    • 🚨📈 This piece discussed Kazakh fintech-super app KASPI (LON: 80TE / FRA: KKS), Korea Shipbuilding & Offshore Engineering Co., Ltd. (KRX: 009540), and Indian finance stock Bajaj Holdings & Investment Ltd (NSE: BAJAJHLDNG / BOM: 500490): Why it pays dividends to invest in emerging markets - Since 2000, EM dividends have grown twice as fast as those in the rest of the world. We look at some of the companies leading the charge.

  • The following Asia focused funds have new factsheets, commentaries, research pieces, podcasts or webinars that would interest investors in Asia:

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