Philippine Markets Daily

Philippine Markets Daily Tearsheet of the Day

This bank’s first equity fund underperformed the PSEi, but average Uniform ROA for its holdings is 1.5x as-reported, implying potential upside

January 22, 2021
The unit investment trust fund (UITF) from one of the country’s leading universal banks has underperformed the Philippine Stock Exchange Index (PSEi) since its inception. However, it has slightly recovered from its 2020 pandemic-induced lows with the fund’s net asset value per unit (NAVPU) increasing once again.
Recent Newsletters
December 18, 2020
UITF from the oldest bank in the region performed in line with the PSEi YTD, with holdings averaging at Uniform ROA of 9%, almost 2x as-reported
This unit investment trust fund (UITF) from the oldest bank in the region has performed in line with its benchmark, the Philippine Stock Exchange Index (PSEi), year-to-date.
December 17, 2020
With Uniform ROAs largely over 20%, this company proves that betting on a growing industry’s pickaxe seller is always the right call
Investing in companies who are suppliers to a particular industry, or what are called “pickaxe sellers,” is often a smart move. The logic is, instead of betting on which business makes the greater product, bet on the one supplying the materials for the product—that way, you win regardless.
December 16, 2020
This IT company has made revolutionary contributions to the Chinese government, with a Uniform ROA that’s almost 6x what is reported!
This Chinese corporation is known to have developed Intelligent Tax, a software that helps adhere to the Golden Tax System in China utilized by their State Taxation Administration. This system makes it almost impossible to cheat the taxation process.
December 15, 2020
This soda producer is chugging down its new costs, with TRUE Uniform margins fizzling out at 1% and not 5% as reported
As more people wisen up to the dangers of excessive sugar consumption, sugar-dependent businesses should be worried about the future. Even the Philippine government has stepped in by enacting a tax directly aimed at sweetened beverages.
December 14, 2020
MONDAY MACRO: Local recovery rates from COVID-19 are improving, but this Uniform Accounting rate is still declining at 56%
2020 has been a year of declines for economies around the world…declining GDP rates across the globe, declining interest rates from central banks, to name a few.
December 11, 2020
This newly-incepted UITF from one of the largest banks in the country has performed in line with the PSEi year-to-date
This unit investment trust fund (UITF) from one of the largest banks in the country performed in line with its benchmark, the Philippine Stock Exchange Index (PSEi), year-to-date.
December 10, 2020
Almost every smartphone in the market is equipped with this company’s chips, and Uniform Accounting reveals its industry-leading returns of 20%+
The semiconductor industry is notorious for its cyclicality. Chips generally have short lifespans—advancements in chip technology progress quickly, replacing the older, less advanced versions. This creates periods of high demand for the newer tech followed by an oversupply in the older, less advanced products.
December 9, 2020
This “king” has conquered many industries through diversification, with a TRUE earning power that’s almost 3x than what you think!
According to Father of Strategic Management Igor Ansoff, there are four major areas that companies can focus on to grow: market penetration, market development, product development, and diversification.
December 7, 2020
MONDAY MACRO: Holiday season and lenient guidelines push consumer spending higher, but 3.3% inflationary pressure not yet a concern
People normally look at this economic indicator to decide how good or bad the economy is doing. The higher it is, the more worried consumers get because of rising prices of goods and services.
December 4, 2020
This UITF from the largest bank in the country underperformed the PSEi year-to-date, as-reported metrics understated its earning power
This unit investment trust fund (UITF) from the largest bank in the country underperformed its benchmark
December 3, 2020
Smart acquisitions paired with a trendy marketing strategy brought this company back in style with Uniform ROAs that have gone up to new highs
Globalization has made it possible for companies to appeal to as many consumer groups as they want to.
December 2, 2020
This Japanese company is conveniently using its localization strategy in international markets, resulting in a stronger Uniform ROA of 6%!
Convenience stores are popular because they offer a wide range of products from packaged goods to cooked meals, all in one convenient location.
November 27, 2020
This UITF from the first private, Filipino-controlled bank post-WWII has successfully tracked the PSEi year-to-date
This unit investment trust fund (UITF) from the first private, Filipino-controlled bank after World War II has successfully tracked the performance of its benchmark, the Philippine Stock Exchange Index (PSEi), year-to-date.
November 26, 2020
Mastering the way of snacking earned this confectionery a jawbreaking position in the industry, attaining recent Uniform ROAs of 20%+
Today’s often busier lifestyles have influenced people’s eating patterns. The traditional three square meals a day now includes one or more snacks in between to satisfy hunger or cravings, control moods, as well as for other psychological reasons.
November 25, 2020
This Korean company is winning in esports and in its global partnerships, with stronger Uniform returns of 27%, not 10%!
This South Korean company is known for its popular game, Blade & Soul, and has gradually established its presence worldwide.
November 24, 2020
Taking a page from its competitor’s playbook, this multi-format retailer just made one key transaction to generate record-high Uniform ROA
Competitive pressures drove this multi-format retailer to follow a strategy its competitor once did.
November 23, 2020
MONDAY MACRO: This indicator shows the Philippines is still an attractive investment, giving confidence to both local and foreign investors
2020 has been a challenging year for the Philippines to say the least. The eruption of Taal volcano, the coronavirus pandemic, two super typhoons one after the other—these are just some of the things that have caused major strains to the local economy.
November 20, 2020
This fund from the country’s second largest bank outperformed the PSEi year-to-date while as-reported metrics understated its earning power
This unit investment trust fund (UITF) from one of the country’s largest banks has slightly outperformed its benchmark year-to-date.
November 19, 2020
Uniform ROAs accurately reflect this equipment company’s market leadership, and show why it’s always a winner during infrastructure booms
Whenever there are large amounts of cash flowing into infrastructure spending, one of the big winners is always this construction equipment manufacturing company, thanks to its market leadership.