Rondure New World + Overseas Fund EM Stock Holdings (Mid-2023)
A closer look at almost 100 individual emerging market stock holdings of the Rondure New World Fund (MUTF: RNWOX / RNWIX) and the Rondure Overseas Fund (MUTF: ROSOX / ROSIX).
Rondure Global Advisors is a woman-owned investment adviser headquartered in Salt Lake City, Utah, who manages two international or emerging market mutual funds: Rondure New World Fund (MUTF: RNWOX / RNWIX) and Rondure Overseas Fund (MUTF: ROSOX / ROSIX).
Many of the emerging market stock holdings for both funds (almost 100 individual stocks…) have been covered in our Tuesday EM Fund Stock Picks & Country Commentaries posts. Therefore, its worth taking some time to take a detailed look at each of these holdings as some individual ones might be a good fit for your portfolio.
So-called emerging market countries where either or both funds are invested in (excluding developed countries like Japan which will not be covered later in this post) include:
Asia - SE Asia: Indonesia, Malaysia, Philippines, Thailand & Vietnam
Asia - South Asia: India
Asia - Middle East: Qatar
Latin America: Argentina, Brazil, Colombia, Mexico & Uruguay
One thing that I noticed about both funds is the unusually high number of SE Asian stocks as holdings or a percentage of total holdings. As discussed in past Tuesday posts, most international investors seem to avoid the region or view it as a value trap (and fluctuating currencies don’t help either…).
The focus of this post will not be on the funds themselves; but for reference, here is a look at the long term performance of both:
To make your life easier, this post includes:
Which fund or funds own the stock as a holding.
A quick description of the stock holding with links to the IR page and stock quote(s) on Yahoo! Finance or Finviz (for US Listings).
A link to any Wikipedia page (for what it might be worth…)
Forward or trailing P/E and dividend yields linked back to the Yahoo! Finance statistics page.
The latest long term technical chart linked back to Yahoo! Finance.
And as always, this post is provided for informational purposes only (and to make your life easier by providing you with relevant information, links, and charts). It does not constitute investment advice and/or a recommendation…
Note: As of last week when I started writing this post, the fund website only had their holdings as of June 30th (and since this post covers almost emerging market 100 stocks, it took a little longer than expected to write this post). It looks like they have subsequently updated the fund holdings pages to the end of July:
Rondure New World Fund (MUTF: RNWOX / RNWIX): FULL HOLDINGS as of 07/31/2023
Rondure Overseas Fund (MUTF: ROSOX / ROSIX): FULL HOLDINGS as of 07/31/2023
Disclaimer. The information and views contained on this website and newsletter is provided for informational purposes only and does not constitute investment advice and/or a recommendation. Your use of any content is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the content. Seek a duly licensed professional for any investment advice. I may have positions in the investments covered. This is not a recommendation to buy or sell any investment mentioned.
For a further disclaimer and an explanation of the reasoning behind these posts: DISCLAIMER: EM Fund Stock Picks & Country Commentaries Posts.
Note: Where possible, company links are to their respective investor relations or corporate pages. Region and country links are to our ADR or ETF pages where there are further country specific resources (e.g. links to local stock markets and media websites). Please report any bad links in the comments section.
Asia
East Asia
China
ANTA Sports Products, Ltd.
[Rondure New World Fund]
ANTA Sports Products (HKG: 2020 / FRA: AS7 / OTCMKTS: ANPDY / OTCMKTS: ANPDF) is involved in the design, R&D, manufacturing, marketing and sales of professional sports products, including shoes, apparel and accessories to Chinese consumers. By embracing an all-round brand portfolio including ANTA, FILA, DESCENTE and KOLON SPORT, and by setting up an investor consortium to successfully acquire Amer Sports in 2019 (a global sportswear group that has internationally recognized brands including Arc’teryx, Salomon, Wilson, Peak Performance, Atomic, etc.), ANTA Sports aims to unlock the potential of both the mass and high-end sportswear markets.
Forward P/E: 22.99 / Forward Annual Dividend Yield: 1.86% (Yahoo! Finance)
Alibaba Group Holding, Ltd.
[Rondure New World Fund]
Alibaba (NYSE: BABA) is a Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology.
Forward P/E: 9.93 / Forward Annual Dividend Yield: N/A (Yahoo! Finance)
China Resources Beer Holdings Co., Ltd.
[Rondure New World Fund]
China Resources Beer Holdings or CR Beer (HKG: 0291 / FRA: CHK / OTCMKTS: CRHKY / CRHKF) is a beer listed subsidiary company of China Resources (Holdings) Company Limited (one of the largest state-owned conglomerates in China). The Group focuses on the manufacturing, sales and distribution of beer products. China Resources Snow Breweries Limited (“CRSB”) is a wholly-owned subsidiary of the Company. In 2019, the Group commenced a strategic partnership with the Heineken Group.
Forward P/E: 26.25 / Forward Annual Dividend Yield: 1.41% (Yahoo! Finance)
China Tourism Group Duty Free Corp., Ltd.
[Rondure New World Fund]
China Tourism Group Duty Free (HKG: 1880 / SHA: 601888) is a state-owned franchise company authorized to carry out nationwide duty-free business. Boasting many well-known tourism brands such as HKCTS, CITS, CTG and CDF, etc., the Group is the sole central government-owned enterprise taking tourism as its core business and a leading tourism enterprise in China, with the longest history, large scale and high brand value and subsidiaries across the complete tourism industrial chain. The Group had over 45,000 employees, with total assets of more than RMB 210 billion and 655 wholly-owned or controlled subsidiaries by the end of 2022.
Wikipedia (CITS Group Corporation)
Forward P/E: 21.64 / Forward Annual Dividend Yield: 0.80% (Yahoo! Finance)
