Finance case study
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Sterling Company has Php 20 million in temporary investments split between stocks and high-yield deposits. It also has Php 30 million in short-term borrowings. It recently took out a Php 10 million loan but no longer needs the funds. As CFO, you could use the Php 10 million in excess liquidity to pay down some of the short-term debt, saving over Php 780,000 in interest costs per year.
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True-Insight-Issue-3-2016
The document provides an overview of markets and investment outlook from various managers in the last quarter. Key points include:
- Markets performed well despite initial Brexit reaction, with UK and international equities rising. Bonds and commodities also rose.
- Managers are assessing economic outlooks, seeing potential for US growth but concerns in Europe. Some see opportunities from coordinated fiscal plans.
- Managers have mixed views on regions like Japan, Europe, and property exposure. Bonds are largely held for safety over yield.
- The outlook discusses navigating uncertainty after Brexit through diversification. Unemployment rates suggest the UK economy remains stronger than Eurozone economies.
True-Insight-Spring-2016-1
- After interviewing their investment manager partners, the consensus is one of cautious optimism about further stock market gains, but managers note the path remains precarious.
- Managers favor value stocks over growth and are underexposed to emerging markets and commodities despite recent strength in those areas.
- Within fixed income, emerging market bonds are becoming more attractive due to US dollar weakness.
- Government bonds are viewed more as portfolio insurance than a source of return given their low yields.
Business finance
This document summarizes a group project on financial markets. The group members are Abdul Moeed Butt, Moaaz Zulfiqar, Muhammad Ali Mughal, Ayesha Sadiqa, and Ali Hassan, working under Majid Alvi. It provides an overview of financial systems and capital markets in Pakistan, including the three stock exchanges and how companies list on the exchanges. It also discusses key concepts like cash flow, net income, raising capital through IPOs, types of investments, and risk-return tradeoffs for investors.
Monthly Market Perspective - June 2016
The drivers of short-term market moves can be vastly different from those which underpin the cycles of longer-term market direction. This month we examine a variety of these factors.
Stock Trak Presentation
The document describes a 70-30 active-passive investment portfolio consisting of stocks, bonds, REITs, and commodities. It provides details on the composition and performance of the portfolio components, including ETFs tracking various market indices. The portfolio experienced losses in April due to leveraged bets in futures/options markets and specific stock positions that underperformed. Going forward, the portfolio manager aims to increase diversification and use derivatives more judiciously with appropriate timelines and quantities to manage risk.
Successful Investing Strategy
The document outlines a successful investing strategy of buying a low-cost index fund and holding it forever. It explains that most actively managed mutual funds fail to beat the market after fees, which average 2.5% annually. Over long periods of time, these costs overwhelm returns and compound, so that an initial $100,000 investment grows to only $1,450,400 in 50 years at a net 5.5% return in a mutual fund, versus $4,690,000 at an 8% gross market return in a low-cost index fund. Therefore, the best strategy is to keep costs low by investing in broad-based index funds.
Olympic Wealth Fund, 'Javelin' Fund fact sheet class 'B' February 2015
The Javelin Global Fund Fact Sheet provides performance data and details about the fund. Over the past year, Class B saw returns of 81.84% and since its launch in January 2012, returns have been 90.42%. The top three holdings are Suncor Energy Inc, Alibaba Group Holding Ltd, and Microsoft Corp, making up 39%, 33%, and 28% of the fund respectively. The fund seeks to provide capital appreciation over the medium to long term through a focus investing approach in well-run global businesses.
Axis bank balanced fund
Axis Bank Limited is the third largest private sector bank in India, with approximately 43% of its shares owned by foreign investors and 34% owned by government entities. UTI Bank (which later became Axis Bank) was established in 1993 with its first branch opening in Ahmedabad. Axis Mutual Fund offers over 50 mutual fund schemes across different categories like equity, debt, hybrid, and more. Balanced or hybrid funds invest in both equities and fixed income securities to achieve a balance of growth and income. The Axis Triple Advantage Fund and Axis Income Saver Fund are examples of open-ended balanced mutual funds offered by Axis Mutual Fund.
Recommended
True-Insight-Issue-3-2016
The document provides an overview of markets and investment outlook from various managers in the last quarter. Key points include:
- Markets performed well despite initial Brexit reaction, with UK and international equities rising. Bonds and commodities also rose.
- Managers are assessing economic outlooks, seeing potential for US growth but concerns in Europe. Some see opportunities from coordinated fiscal plans.
- Managers have mixed views on regions like Japan, Europe, and property exposure. Bonds are largely held for safety over yield.
- The outlook discusses navigating uncertainty after Brexit through diversification. Unemployment rates suggest the UK economy remains stronger than Eurozone economies.
True-Insight-Spring-2016-1
- After interviewing their investment manager partners, the consensus is one of cautious optimism about further stock market gains, but managers note the path remains precarious.
- Managers favor value stocks over growth and are underexposed to emerging markets and commodities despite recent strength in those areas.
- Within fixed income, emerging market bonds are becoming more attractive due to US dollar weakness.
- Government bonds are viewed more as portfolio insurance than a source of return given their low yields.
Business finance
This document summarizes a group project on financial markets. The group members are Abdul Moeed Butt, Moaaz Zulfiqar, Muhammad Ali Mughal, Ayesha Sadiqa, and Ali Hassan, working under Majid Alvi. It provides an overview of financial systems and capital markets in Pakistan, including the three stock exchanges and how companies list on the exchanges. It also discusses key concepts like cash flow, net income, raising capital through IPOs, types of investments, and risk-return tradeoffs for investors.
Monthly Market Perspective - June 2016
The drivers of short-term market moves can be vastly different from those which underpin the cycles of longer-term market direction. This month we examine a variety of these factors.
Stock Trak Presentation
The document describes a 70-30 active-passive investment portfolio consisting of stocks, bonds, REITs, and commodities. It provides details on the composition and performance of the portfolio components, including ETFs tracking various market indices. The portfolio experienced losses in April due to leveraged bets in futures/options markets and specific stock positions that underperformed. Going forward, the portfolio manager aims to increase diversification and use derivatives more judiciously with appropriate timelines and quantities to manage risk.
Successful Investing Strategy
The document outlines a successful investing strategy of buying a low-cost index fund and holding it forever. It explains that most actively managed mutual funds fail to beat the market after fees, which average 2.5% annually. Over long periods of time, these costs overwhelm returns and compound, so that an initial $100,000 investment grows to only $1,450,400 in 50 years at a net 5.5% return in a mutual fund, versus $4,690,000 at an 8% gross market return in a low-cost index fund. Therefore, the best strategy is to keep costs low by investing in broad-based index funds.
Olympic Wealth Fund, 'Javelin' Fund fact sheet class 'B' February 2015
The Javelin Global Fund Fact Sheet provides performance data and details about the fund. Over the past year, Class B saw returns of 81.84% and since its launch in January 2012, returns have been 90.42%. The top three holdings are Suncor Energy Inc, Alibaba Group Holding Ltd, and Microsoft Corp, making up 39%, 33%, and 28% of the fund respectively. The fund seeks to provide capital appreciation over the medium to long term through a focus investing approach in well-run global businesses.
Axis bank balanced fund
Axis Bank Limited is the third largest private sector bank in India, with approximately 43% of its shares owned by foreign investors and 34% owned by government entities. UTI Bank (which later became Axis Bank) was established in 1993 with its first branch opening in Ahmedabad. Axis Mutual Fund offers over 50 mutual fund schemes across different categories like equity, debt, hybrid, and more. Balanced or hybrid funds invest in both equities and fixed income securities to achieve a balance of growth and income. The Axis Triple Advantage Fund and Axis Income Saver Fund are examples of open-ended balanced mutual funds offered by Axis Mutual Fund.
Market indices
An index is constructed to measure movements in financial markets like stocks and bonds. The SENSEX is India's oldest stock market index, first compiled in 1986 based on 30 large, established companies. It uses a free-float methodology, where the index level reflects the free-float market value of component stocks relative to a base period. Stocks are selected based on criteria like market capitalization, liquidity, and representation of key industries.
Understanding Balanced Funds
Our work demands often leave us with little or no time to spend with the family. This routine can lead to unwarranted stress and fatigue.
Both work and family are the cornerstones of life, neither of which can be ignored. That is why we need to strike a right balance between work and personal life to lead a happy and a healthier life.
Balancing both aspects of your life means you have to give yourself equally so that one will not suffer at the expense of the other. In the long run, the joy, happiness and fulfilment derived from both are worth the effort.
Investing in balanced funds (also known as Hybrid funds) is not much different. Similar to work-life balance, balanced funds are here to give us the best of both worlds.
Today’s lesson by Prof. Simply Simple attempts to explain the importance of balanced funds.
Look forward to your valuable feedback at professor@tataamc.com
Investments in india
The document provides an overview of investing and discusses why investing is important. It notes that investing allows people to meet long-term financial goals like education, weddings, medical expenses, and retirement. Starting to invest earlier provides significant benefits due to compound interest over time. The document then discusses different investment options like stocks, mutual funds, bonds, and real estate and how they balance risk and return. It emphasizes that equities can provide high returns but also volatility in the short-term, while having strong long-term growth potential. The document also promotes mutual funds as a convenient way for individuals to invest and benefit from professional management.
Hilltop decorrelated fund october 2013 factsheet
The Hilltop Decorrelated Fund gained 1.2% in October. After months of offsetting winning and losing positions cancelling each other out in the first half of the year, the fund has seen a return to normality over the past 4 months with more winning than losing positions. The fund employs a multi-manager strategy investing in 12-20 underlying hedge funds pursuing decorrelated returns across asset classes like equities, fixed income, currencies and commodities. The target is an average annual return of 10-12% with low volatility and correlation to markets.
Mirae asset midcap fund product presentation 2019
An Open Ended Equity Scheme Predominantly investing in Mid Cap Stocks.The investment objective is to generate long term capital appreciation by investing in a portfolio of predominantly Midcap Stocks.
There is no assurance that the investment objective of the Scheme will be realized.
*Investment Framework of Mirae Asset Midcap fund *
Invest Predominantly (>65%) in Mid Cap companies (101-250th Company in terms of Full Market Cap).
The fund may also participate in other Indian Equities based on factors like relative valuations , Liquidity and market sentiments .
Aim to build a portfolio of companies having robust business models which have the potential to grow into tomorrow’s large caps.
Diversified portfolio with participation across sectors
Bottom-up approach –driven by value investing in growth oriented businesses.
Fund Manager : Mr.Ankit Jain
Benchmark : Nifty Midcap 100 Index (TRI)
Mirae Asset Midcap Fund is suitable for investors who are seeking
– More opportunities to identify inefficiencies in an Under researched market space.
– Higher Alpha in Midcap as early identification has possibly twin Advantages of (a) higher Earnings growth and (b) potential P/E Expansion .
HSBC-News30
1. The Australian equity market has increased 24% from its March low but remains below levels from three years ago. The report predicts continued bull market conditions with the All Ordinaries index reaching 3,650, implying almost 15% total returns over the next 12 months.
2. Small cap stocks have outperformed recently but now appear relatively expensive. Overall, the market appears fairly valued based on the "rule of 20" and prospective earnings yield relative to bonds.
3. The consensus view is that stronger world growth may benefit resources over banks, but the report finds resource stocks trading at higher valuations and lower yields compared to the major banks. The portfolios recommended overweight banks and include only one major miner.
The uncommon average
When setting expectations,
it’s helpful to see the range of outcomes experienced
by investors historically. For example, how often have
the stock market’s annual returns actually aligned with
its long-term average? Better yet, how often are the markets positive?
The World This Week - 28th March to 1st April, 2016
This weekly summary discusses the Indian and global macroeconomic environment and equity markets. Some key points:
- The Indian equity market has risen over 11% since the February 2016 budget on positive domestic macros and foreign institutional investment inflows of over Rs. 25,000 crores.
- The upcoming RBI monetary policy decision and start of corporate earnings season will be important influences on the market this week.
- Chinese and Indian manufacturing PMIs showed expansion in March, suggesting easing pressure on those economies.
- Most Indian indices rose over 1% for the week on strong demand, with midcap and technology indices performing well.
Hilltop decorrelated fund august 2013 factsheet
This document provides information on the Hilltop Decorrelated Fund, including its portfolio allocation and historical performance. The fund utilizes a multi-manager approach, investing in 10-15 hedge fund strategies across global markets that aim to deliver returns with low correlation to traditional benchmarks. In August 2013, the fund was down 0.2% with half of its 16 underlying managers positive and half negative. The document also provides details on fund terms, fees, and the investment experience and background of the fund manager.
Valuation of Costco
This document provides a valuation of Costco stock using several models. It begins by calculating the discount rate using the CAPM model, determining a risk free rate of 3.75% and market risk premium of 3.1% based on economic indicators. It then estimates Costco's beta to be 0.9 based on its defensive nature and stable earnings. This yields a discount rate of 6.54%. It then provides inputs for the valuation models such as a long term growth rate of 4.75% and dividend of $1.80. The document will value Costco using the dividend discount model, capitalized earnings model, and H-model.
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The Indian equity market rallied 0.60% last week due to gains in global markets and a strengthening currency. Since the budget, Indian indices have risen over 11%, reflecting belief that interest rates will be cut by 25 basis points. Lower inflation supports expectations of rate cuts. The government will borrow 59% of its annual plan in the next six months. European banks made progress in Greek debt talks, while Deutsche Borse and the LSE agreed to a $30 billion merger.
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This document outlines the investment objectives of various types of mutual funds in India. It discusses equity funds, which invest in shares and aim to provide capital appreciation over the long term; debt funds, which invest in bonds and aim to provide regular income; and balanced funds, which invest in both equities and fixed income to provide income and capital appreciation. It also covers tax saving funds, liquid funds, gilt funds, and other fund categories, explaining their risk-return profiles and investment objectives.
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The Shanghai Composite stock market index has risen over 140% in the past year despite slowing economic growth in China. Valuations seem inflated but the rally is partly fueled by excessive margin financing and government support of state-owned enterprises. The central bank has cut interest rates three times to support asset prices, and the inclusion of Chinese A shares in the MSCI emerging markets index could provide another boost. While the market's detachment from fundamentals is worrying, the Chinese government has incentives to continue propping up stocks through monetary easing and SOE support.
The World This Week - 21st to 25th March, 2016
The document provides an equity market outlook and summaries of domestic and global macroeconomic news. It notes that the global economy is stable with commodities bouncing back. In India, it expects the RBI to cut rates and for monsoons and discretionary spending to influence the market rally. Internationally, it mentions Eurozone recovery continuing slowly, China's trade deficit narrowing, and US rate hikes potentially accelerating economic growth. Market indices and commodity prices are also summarized.
Market Watch - May 2017
Markets are in a consolidation mode. The upside is capped by geopolitical risk and Trump’s inability to make any economic reforms. But more importantly the direction of markets has been determined by economic momentum. From November last year, the rise in markets was largely due to the improving economic cycle. The consolidation now in evidence is due to economic momentum moderating.
The World This Week - 4th to 8th April, 2016
The Reserve Bank of India cut its repo rate by 25 basis points to 6.5% while keeping the CRR unchanged at 4%. Inflation is expected to be around 4.5% by March 2018. The results season has begun and expectations are modest. Revivals are possible in the auto and financial sectors along with rural and agriculture sectors based on pay commission awards and monsoon. Commodity prices declined over the week except for crude oil and the US dollar. Bond yields fell across maturities except the 10-year bond.
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The document discusses whether one should start investing and provides information on various investment options. It notes that inflation and price increases mean even a 10% yearly return may just break even. Fixed deposits of 3-4% are not advisable. Developing countries have shown that long-term stock speculation over 30-40 years can yield high profits, as seen from examples of companies in Malaysia and the US. Investing in China is suggested as the country's economy and companies are growing rapidly. Over-the-counter (OTC) markets are presented as a way to invest in small and medium enterprises that have potential for high returns before listing on larger stock exchanges.
Why SIP in Mutual Funds - FinVise India
We are an independent financial and real estate advisor engaged in the distribution of financial products & services, real estate, and loans.
Start small but make a start now
As Indians, we are generally risk averse towards our investments. We believe that our money should be protected at any cost and there should be no risk involved. Hence, we agree to settle down for investments that seem to offer a guaranteed return which in reality does not beat inflation and hence devalues the money in the long term.
006-007_IW_0408
Tom Naughton's Prusik Asian Equity Income fund has performed strongly over the past year, returning 18% compared to the sector average of 14%. The fund focuses on high-conviction, small-cap stocks in Asia and has a current yield of 4.8%. Naughton cites good stock picking across markets as the main driver of recent performance. However, he acknowledges mistakes including an underweight position in outperforming Australia and overweights in underperforming Hong Kong and China. He remains cautious on India given high valuations and sees a potential Chinese banking crisis as one of the largest risks to the portfolio.
Growth Equity & Buyout Funds.pdf
Growth equity and buyout funds use leverage and operational improvements to increase returns. Growth equity invests in growing companies, while buyout funds seek undervalued companies. Leverage multiplies returns through debt financing, allowing buyouts to exit at higher valuations. For example, a buyout may use 10x annual profits to value a $10M profit company at $100M, financing $70M with debt. If profits stay flat but exit at 15x in 5 years, equity returns double to 22% annually despite no profit growth.
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What's hot
Market indices
An index is constructed to measure movements in financial markets like stocks and bonds. The SENSEX is India's oldest stock market index, first compiled in 1986 based on 30 large, established companies. It uses a free-float methodology, where the index level reflects the free-float market value of component stocks relative to a base period. Stocks are selected based on criteria like market capitalization, liquidity, and representation of key industries.
Understanding Balanced Funds
Our work demands often leave us with little or no time to spend with the family. This routine can lead to unwarranted stress and fatigue.
Both work and family are the cornerstones of life, neither of which can be ignored. That is why we need to strike a right balance between work and personal life to lead a happy and a healthier life.
Balancing both aspects of your life means you have to give yourself equally so that one will not suffer at the expense of the other. In the long run, the joy, happiness and fulfilment derived from both are worth the effort.
Investing in balanced funds (also known as Hybrid funds) is not much different. Similar to work-life balance, balanced funds are here to give us the best of both worlds.
Today’s lesson by Prof. Simply Simple attempts to explain the importance of balanced funds.
Look forward to your valuable feedback at professor@tataamc.com
Investments in india
The document provides an overview of investing and discusses why investing is important. It notes that investing allows people to meet long-term financial goals like education, weddings, medical expenses, and retirement. Starting to invest earlier provides significant benefits due to compound interest over time. The document then discusses different investment options like stocks, mutual funds, bonds, and real estate and how they balance risk and return. It emphasizes that equities can provide high returns but also volatility in the short-term, while having strong long-term growth potential. The document also promotes mutual funds as a convenient way for individuals to invest and benefit from professional management.
Hilltop decorrelated fund october 2013 factsheet
The Hilltop Decorrelated Fund gained 1.2% in October. After months of offsetting winning and losing positions cancelling each other out in the first half of the year, the fund has seen a return to normality over the past 4 months with more winning than losing positions. The fund employs a multi-manager strategy investing in 12-20 underlying hedge funds pursuing decorrelated returns across asset classes like equities, fixed income, currencies and commodities. The target is an average annual return of 10-12% with low volatility and correlation to markets.
Mirae asset midcap fund product presentation 2019
An Open Ended Equity Scheme Predominantly investing in Mid Cap Stocks.The investment objective is to generate long term capital appreciation by investing in a portfolio of predominantly Midcap Stocks.
There is no assurance that the investment objective of the Scheme will be realized.
*Investment Framework of Mirae Asset Midcap fund *
Invest Predominantly (>65%) in Mid Cap companies (101-250th Company in terms of Full Market Cap).
The fund may also participate in other Indian Equities based on factors like relative valuations , Liquidity and market sentiments .
Aim to build a portfolio of companies having robust business models which have the potential to grow into tomorrow’s large caps.
Diversified portfolio with participation across sectors
Bottom-up approach –driven by value investing in growth oriented businesses.
Fund Manager : Mr.Ankit Jain
Benchmark : Nifty Midcap 100 Index (TRI)
Mirae Asset Midcap Fund is suitable for investors who are seeking
– More opportunities to identify inefficiencies in an Under researched market space.
– Higher Alpha in Midcap as early identification has possibly twin Advantages of (a) higher Earnings growth and (b) potential P/E Expansion .
HSBC-News30
1. The Australian equity market has increased 24% from its March low but remains below levels from three years ago. The report predicts continued bull market conditions with the All Ordinaries index reaching 3,650, implying almost 15% total returns over the next 12 months.
2. Small cap stocks have outperformed recently but now appear relatively expensive. Overall, the market appears fairly valued based on the "rule of 20" and prospective earnings yield relative to bonds.
3. The consensus view is that stronger world growth may benefit resources over banks, but the report finds resource stocks trading at higher valuations and lower yields compared to the major banks. The portfolios recommended overweight banks and include only one major miner.
The uncommon average
When setting expectations,
it’s helpful to see the range of outcomes experienced
by investors historically. For example, how often have
the stock market’s annual returns actually aligned with
its long-term average? Better yet, how often are the markets positive?
The World This Week - 28th March to 1st April, 2016
This weekly summary discusses the Indian and global macroeconomic environment and equity markets. Some key points:
- The Indian equity market has risen over 11% since the February 2016 budget on positive domestic macros and foreign institutional investment inflows of over Rs. 25,000 crores.
- The upcoming RBI monetary policy decision and start of corporate earnings season will be important influences on the market this week.
- Chinese and Indian manufacturing PMIs showed expansion in March, suggesting easing pressure on those economies.
- Most Indian indices rose over 1% for the week on strong demand, with midcap and technology indices performing well.
Hilltop decorrelated fund august 2013 factsheet
This document provides information on the Hilltop Decorrelated Fund, including its portfolio allocation and historical performance. The fund utilizes a multi-manager approach, investing in 10-15 hedge fund strategies across global markets that aim to deliver returns with low correlation to traditional benchmarks. In August 2013, the fund was down 0.2% with half of its 16 underlying managers positive and half negative. The document also provides details on fund terms, fees, and the investment experience and background of the fund manager.
Valuation of Costco
This document provides a valuation of Costco stock using several models. It begins by calculating the discount rate using the CAPM model, determining a risk free rate of 3.75% and market risk premium of 3.1% based on economic indicators. It then estimates Costco's beta to be 0.9 based on its defensive nature and stable earnings. This yields a discount rate of 6.54%. It then provides inputs for the valuation models such as a long term growth rate of 4.75% and dividend of $1.80. The document will value Costco using the dividend discount model, capitalized earnings model, and H-model.
The World This Week - 14th to 18th March, 2016
The Indian equity market rallied 0.60% last week due to gains in global markets and a strengthening currency. Since the budget, Indian indices have risen over 11%, reflecting belief that interest rates will be cut by 25 basis points. Lower inflation supports expectations of rate cuts. The government will borrow 59% of its annual plan in the next six months. European banks made progress in Greek debt talks, while Deutsche Borse and the LSE agreed to a $30 billion merger.
Presentation3
This document outlines the investment objectives of various types of mutual funds in India. It discusses equity funds, which invest in shares and aim to provide capital appreciation over the long term; debt funds, which invest in bonds and aim to provide regular income; and balanced funds, which invest in both equities and fixed income to provide income and capital appreciation. It also covers tax saving funds, liquid funds, gilt funds, and other fund categories, explaining their risk-return profiles and investment objectives.
HassanRizvi.SampleArticle
The Shanghai Composite stock market index has risen over 140% in the past year despite slowing economic growth in China. Valuations seem inflated but the rally is partly fueled by excessive margin financing and government support of state-owned enterprises. The central bank has cut interest rates three times to support asset prices, and the inclusion of Chinese A shares in the MSCI emerging markets index could provide another boost. While the market's detachment from fundamentals is worrying, the Chinese government has incentives to continue propping up stocks through monetary easing and SOE support.
The World This Week - 21st to 25th March, 2016
The document provides an equity market outlook and summaries of domestic and global macroeconomic news. It notes that the global economy is stable with commodities bouncing back. In India, it expects the RBI to cut rates and for monsoons and discretionary spending to influence the market rally. Internationally, it mentions Eurozone recovery continuing slowly, China's trade deficit narrowing, and US rate hikes potentially accelerating economic growth. Market indices and commodity prices are also summarized.
Market Watch - May 2017
Markets are in a consolidation mode. The upside is capped by geopolitical risk and Trump’s inability to make any economic reforms. But more importantly the direction of markets has been determined by economic momentum. From November last year, the rise in markets was largely due to the improving economic cycle. The consolidation now in evidence is due to economic momentum moderating.
The World This Week - 4th to 8th April, 2016
The Reserve Bank of India cut its repo rate by 25 basis points to 6.5% while keeping the CRR unchanged at 4%. Inflation is expected to be around 4.5% by March 2018. The results season has begun and expectations are modest. Revivals are possible in the auto and financial sectors along with rural and agriculture sectors based on pay commission awards and monsoon. Commodity prices declined over the week except for crude oil and the US dollar. Bond yields fell across maturities except the 10-year bond.
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The World This Week - 28th March to 1st April, 2016
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The financial crisis
A presentation that exposes the weaknesses in the financial system whilst also teaching about fundamental analysis, technical analysis, Bollinger bands, media analysis, chartism, risk, uncertainty, black swans, recessions, greed and money markets
The secrets of how those multi billionaire become wealthy.
The document discusses whether one should start investing and provides information on various investment options. It notes that inflation and price increases mean even a 10% yearly return may just break even. Fixed deposits of 3-4% are not advisable. Developing countries have shown that long-term stock speculation over 30-40 years can yield high profits, as seen from examples of companies in Malaysia and the US. Investing in China is suggested as the country's economy and companies are growing rapidly. Over-the-counter (OTC) markets are presented as a way to invest in small and medium enterprises that have potential for high returns before listing on larger stock exchanges.
Why SIP in Mutual Funds - FinVise India
We are an independent financial and real estate advisor engaged in the distribution of financial products & services, real estate, and loans.
Start small but make a start now
As Indians, we are generally risk averse towards our investments. We believe that our money should be protected at any cost and there should be no risk involved. Hence, we agree to settle down for investments that seem to offer a guaranteed return which in reality does not beat inflation and hence devalues the money in the long term.
006-007_IW_0408
Tom Naughton's Prusik Asian Equity Income fund has performed strongly over the past year, returning 18% compared to the sector average of 14%. The fund focuses on high-conviction, small-cap stocks in Asia and has a current yield of 4.8%. Naughton cites good stock picking across markets as the main driver of recent performance. However, he acknowledges mistakes including an underweight position in outperforming Australia and overweights in underperforming Hong Kong and China. He remains cautious on India given high valuations and sees a potential Chinese banking crisis as one of the largest risks to the portfolio.
Growth Equity & Buyout Funds.pdf
Growth equity and buyout funds use leverage and operational improvements to increase returns. Growth equity invests in growing companies, while buyout funds seek undervalued companies. Leverage multiplies returns through debt financing, allowing buyouts to exit at higher valuations. For example, a buyout may use 10x annual profits to value a $10M profit company at $100M, financing $70M with debt. If profits stay flat but exit at 15x in 5 years, equity returns double to 22% annually despite no profit growth.
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- HollyFrontier focuses on refining while Holly Energy Partners focuses on logistics and transportation. Their collaboration allows them to leverage complementary assets and operations.
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The chairman of an aerospace manufacturing company is concerned about the accumulation of cash on the company's balance sheet. The company has grown through acquisitions rather than R&D, and now faces competitive pressures and lower government spending. It has a history of project overruns and unaccountable managers. The chairman suggests using cash reserves to improve facilities, pay, environmental performance, and board compensation, though he admits business opportunities may not return to previous levels. He seeks advice on how to best deploy the accumulated cash.
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‘Over the Horizon’ share market commentary – October 2014
For your interest, attached is my monthly 'Over the Horizon' share market commentary for October 2014
Margin Trading
This case study examines the risk management strategy of Sri Lanka Margin Providers. Margin trading allows investors to borrow up to 50% of the value of shares pledged as collateral to purchase more stock. Risks include market risk from price fluctuations, liquidity risk if margin calls aren't met, and credit risk. The strategy includes setting lending limits, portfolio restrictions, monitoring margin factors daily to limit equity risk below 50%, and restricting securities based on risk. While Sri Lanka's margin trading system is still developing risk management strategies, comprehensive monitoring and client credit ratings can help margin providers better manage risks.
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This document discusses monetary theory and the relationship between money supply and economic activity. It covers key topics such as:
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The document discusses various investment and protection services available through RL360. It begins by summarizing the Isle of Man's history and reputation as an offshore financial center. It then discusses RL360's regulation and client protection schemes. The document goes on to provide examples of regular contribution investment plans, single sum investments, and independent discretionary management services. It also introduces a new emerging market equity income fund and describes international protection plans.
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The document summarizes the Lime-Sustin Democracy Hedge Fund, a mixed-asset fund launched by Lime Asset Management in Korea. The fund aims to pursue stable long-term returns through an activist investment strategy of engaging with undervalued companies to unlock value. It will invest in domestic and international stocks, ETFs, bonds and derivatives. The fund is jointly managed by Lime Asset Management's equity division and an appointed responsible investment manager. It offers various fee structures and share classes for eligible professional and institutional investors.
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Finance case study
- 1. PROBLEM: STERLING COMPANY Sterling Company is a fast growing merchandising firm. Last year's balance sheet shows a temporary investments aggregating to Php 20 Million. The firm's portfolio includes Php 10 Million worth of stocks and Php 10 Million high-yield deposits. The stock market is bullish and prevailing interest rates on premium deposits range from 5% to 6%.
- 2. The Company's financial statements also disclose short-term borrowings amounting to Php 30 Million. Average short-term loan interest is 8% P.A.
- 3. This morning, the company availed of a Php 10 Million 60 day clean loan at 10% P.A. The funds were supposed to be used to finance a special order from a valued client. For some reasons though, the order was cancelled at noon today, and the firm suddenly ends up with excess liquidity. As CFO, what would you do?
- 4. ASSETS Cash 10M Temporary Investments 20 M Inventories(Stocks) 10 M High-yield deposits 10 M TOTAL CURRENT ASSETS 50 M LIABILITIES Short-term borrowings 30 M 60 day clean loan 10 M EXCESS LIQUIDY TOTAL CURRENT LIABILITIES 40 M
- 5. CLEAN LOAN-Loan granted by the bank without accepting any security. But the bank will safeguard themselves by checking the repaying capacity based on the salary certificate/income statement.
- 6. I = PRT I- INTEREST P- PRINCIPAL R- RATE T- TIME
- 7. I=PRT = (30M) (8%) (360/360) =2,400,000 =200,000 MONTHLY INTEREST
- 8. I=PRT =(10M) (10%) (60/360) I= 166,666.67 =83,333.34 MONTHLY INTEREST
- 9. AS CFO WHAT SHOULD YOU DO? -use the 10M excess liquidity to finance working capital
- 10. THE STOCK MARKET IS BULLISH(STRONG- UPWARD MOVING) Bull market A bull market is associated with increasing investor confidence, and increased investing in anticipation of future price increases (capital gains). A bullish trend in the stock market often begins before the general economy shows clear signs of recovery. USE THE EXCESS LIQUIDITY AS AN ADDITIONAL WORKING CAPITAL
- 11. BEAR MARKET A market condition in which the prices of securities are falling, and widespread pessimism causes the negative sentiment to be self-sustaining. As investors anticipate losses in a bear market and selling continues, pessimism only grows.
- 12. WORKING CAPITAL The assets of a business that can be applied to its operation. on the balance sheet is the difference between current assets and current liabilities.
- 13. ACQUISITION ALLOCATION -clean loan use as additional working capital -unload stocks -issue bonds -withdraw deposits
- 14. use the excess liquidity to pay a part of the 30M short term debt (refinancing of debt) =30M- 10M =30M- 9,833,333.33 30m = 20M =20,166,666.7 I= prt I= prt i=prt = (20M)(8%)(360/360) =(20,166,666.7)(8%)(36 0/360) =(30M)(8%)(360/36 0) =1,600,000 =1,613,333.34 =2,400,000 =133,333.33 =134,444.44 =200,000 savings monthly= 65,555.56 savings for a year= 786,666.72