Mirae Asset Discovery Funds

Total Page：16

File Type：pdf, Size：1020Kb

Mirae Asset Discovery Funds Emerging Markets Fund 9/30/2019 Name Weight (%) Alibaba Group Holding Ltd. Sponsored ADR 4.69% Tencent Holdings Ltd. 4.14% SBI Life Insurance Co. Ltd. 3.72% IHH Healthcare Bhd. 2.98% Samsung Electronics Co., Ltd. 2.84% Taiwan Semiconductor Manufacturing Co., Ltd. 2.64% Rumo SA 2.28% ICICI Bank Limited 2.27% AIA Group Limited 2.22% Prosus N.V. Class N 2.20% Ping An Insurance (Group) Company of China, Ltd. Class H 2.13% Banco do Brasil S.A. 2.06% Guangzhou Baiyun International Airport Company Limited Class A 1.89% Reliance Industries Limited 1.87% Security Bank Corp. (Philippines) 1.85% Companhia de Locacao das Americas 1.84% 3SBio, Inc. 1.80% PT Bank Central Asia Tbk 1.78% Lojas Renner S.A. 1.78% Phu Nhuan Jewelry JSC 1.75% GAIL (India) Limited 1.75% Dabur India Limited 1.57% HDFC Bank Limited 1.57% Samsung Electronics Co Ltd Pfd Non-Voting 1.56% Universal Robina Corp. 1.51% CSPC Pharmaceutical Group Limited 1.49% NOVATEK JSC Sponosred GDR RegS 1.48% PT Telekomunikasi Indonesia (Persero) Tbk. Class B 1.47% KAZ Minerals PLC 1.44% Al Rajhi Bank 1.42% Suzano S.A. 1.36% Yandex NV Class A 1.36% China Petroleum & Chemical Corporation Class H 1.35% Sberbank Russia OJSC Sponsored ADR 1.34% Tencent Music EntertainmentGroup ADR Class A 1.34% Lemon Tree Hotels Ltd. 1.34% Narayana Hrudayalaya Ltd. 1.28% DLF Limited 1.28% Titan Company Limited 1.27% Raia Drogasil S.A. 1.25% Name Weight (%) China Mengniu Dairy Co., Ltd. 1.23% Dalmia Bharat Ltd. 1.23% BOC Aviation Limited 1.21% Vietnam Technological & Commercial Joint Stock Bank 1.19% SK hynix Inc 1.18% Tonghua Dongbao Pharmaceutical Co., Ltd. Class A 1.09% Sunny Optical Technology (Group) Co., Ltd. 1.08% TAL Education Group Sponosred ADR Class A 1.05% Grupo Financiero Banorte SAB de CV Class O 1.03% HUYA, Inc. Sponosred ADR Class A 1.03% Baozun Inc Sponsored ADR Class A 1.00% Wal-Mart de Mexico SAB de CV 0.98% CD Projekt S.A. 0.96% DP Eurasia NV 0.78% FirstRand Limited 0.77% Credicorp Ltd. 0.77% Clicks Group Limited 0.74% Alsea, S.A.B. de C.V. 0.72% Halyk Savings Bank of Kazakhstan JSC Sponsored GDR RegS 0.66% Shinhan Financial Group Co., Ltd. 0.65% X5 Retail Group N.V. Sponsored GDR RegS 0.62% Mr Price Group Limited 0.62% China Resources Gas Group Limited 0.52% Cash 1.72% Total 100.00% The portfolio holdings are subject to change and the information provided should not be considered as a recommendation to purchase or sell a particular security. There is no assurance that the securities mentioned remain in the Fund's portfolio or that securities sold have not been repurchased. Risk: Investing involves risk, including the potential loss of principal. An investor should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. This and other important information about the investment company can be found in the Fund's prospectus and summary prospectus. To obtain a prospectus or a summary prospectus, please contact your financial advisor or call (888) 335-3417. Please read the prospectus carefully before investing. © 2008-2019 Mirae Asset Global Investments (USA) LLC. The Mirae Asset Discovery Funds are distributed by Funds Distributor, LLC..

Copy Link

Recommended publications

NOVATEK RS Presentation
“Harnessing the Energy of the Far North” Mark Gyetvay, Deputy Chairman of the Management Board Alexander Palivoda, Head of Investor Relations Goldman Sachs Global Natural Resources Conference London 11-12 November 2015 Forward-Looking Statements Certain statements in this presentation are not historical facts and are “forward-looking”. Examples of such forward-looking statements include, but are not limited to: – projections or expectations of revenues, income (or loss), earnings (or loss) per share, dividends, capital structure or other financial items or ratios; – statements of our plans, objectives or goals, including those related to products or services; – statements of future economic performance; and – statements of assumptions underlying such statements Words such as “believes”, “anticipates”, “expects”, “estimates”, “intends”, “plans”, “outlook” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. You should be aware that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements When relying on forward-looking statements, you should carefully consider the foregoing factors and other uncertainties and events, especially in light of the political, economic, social and legal environment in which we operate. Such forward-looking statements speak only as of the date on which they are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
[Show full text]
Information on IRC – R.O.S.T., the Registrar of the Company and the Acting Ballot Committee of MMC Norilsk Nickel
Information on IRC – R.O.S.T., the registrar of the Company and the acting Ballot Committee of MMC Norilsk Nickel IRC – R.O.S.T. (former R.O.S.T. Registrar merged with Independent Registrar Company in February 2019) was established in 1996. In 2003–2015, Independent Registrar Company was a member of Computershare Group, a global leader in registrar and transfer agency services. In July 2015, IRC changed its ownership to pass into the control of a group of independent Russian investors. In December 2016, R.O.S.T. Registrar and Independent Registrar Company, both owned by the same group of independent investors, formed IRC – R.O.S.T. Group of Companies. In 2018, Saint Petersburg Central Registrar joined the Group. In February 2019, Independent Registrar Company merged with IRC – R.O.S.T. Ultimate beneficiaries of IRC – R.O.S.T. Group are individuals with a strong background in business management and stock markets. No beneficiary holds a blocking stake in the Group. In accordance with indefinite License No. 045-13976-000001, IRC – R.O.S.T. keeps records of holders of registered securities. Services offered by IRC – R.O.S.T. to its clients include: › Records of shareholders, interestholders, bondholders, holders of mortgage participation certificates, lenders, and joint property owners › Meetings of shareholders, joint owners, lenders, company members, etc. › Electronic voting › Postal and electronic mailing › Corporate consulting › Buyback of securities, including payments for securities repurchased › Proxy solicitation › Call centre services › Depositary and brokerage, including escrow agent services IRC – R.O.S.T. Group invests a lot in development of proprietary high-tech solutions, e.g.
[Show full text]
Notes on Moscow Exchange Index Review
Notes on Moscow Exchange index review Moscow Exchange approves the updated list of index components and free float ratios effective from 16 March 2018. X5 Retail Group N.V. (DRs) will be added to Moscow Exchange indices with the expected weight of 1.13 per cent. As these securities were offered initially, they were added without being in the waiting list under consideration. Thus, from 16 March the indices will comprise 46 (component stocks. The MOEX Russia and RTS Index moved to a floating number of component stocks in December 2017. En+ Group plc (DRs) will be in the waiting list to be added to Moscow Exchange indices, as their liquidity rose notably over recent three months. NCSP Group (ords) with low liquidity, ROSSETI (ords) and RosAgro PLC with their weights now below the minimum permissible level (0.2 per cent) will be under consideration to be excluded from the MOEX Russia Index and RTS Index. The Blue Chip Index constituents remain unaltered. X5 Retail Group (DRs), GAZ (ords), Obuvrus LLC (ords) and TNS energo (ords) will be added to the Broad Market Index, while Common of DIXY Group and Uralkali will be removed due to delisting expected. TransContainer (ords), as its free float sank below the minimum threshold of 5 per cent, and Southern Urals Nickel Plant (ords), as its liquidity ratio declined, will be also excluded. LSR Group (ords) will be incuded into SMID Index, while SOLLERS and DIXY Group (ords) will be excluded due to low liquidity ratio. X5 Retail Group (DRs) and Obuvrus LLC (ords) will be added to the Consumer & Retail Index, while DIXY Group (ords) will be removed from the Index.
[Show full text]
Novatek Pjsc
NOVATEK PJSC Primary Credit Analyst: Elena Anankina, CFA, Moscow + 7 49 5783 4130; [email protected] Secondary Contact: Alexander Griaznov, Moscow + 7 49 5783 4109; [email protected] Table Of Contents Credit Highlights Outlook Our Base-Case Scenario Company Description Peer Comparison Business Risk Financial Risk Liquidity Environmental, Social, And Governance Rating Above The Sovereign Issue Ratings - Subordination Risk Analysis Ratings Score Snapshot Related Criteria S&P GLOBAL RATINGS360 APRIL 2, 2021 1 © S&P Global Ratings. All rights reserved. No reprint or dissemination without S&P Global Ratings' permission. See Terms of Use/Disclaimer on the last page. Table Of Contents (cont.) Related Research S&P GLOBAL RATINGS360 APRIL 2, 2021 2 © S&P Global Ratings. All rights reserved. No reprint or dissemination without S&P Global Ratings' permission. See Terms of Use/Disclaimer on the last page. NOVATEK PJSC Business Risk: SATISFACTORY Issuer Credit Rating Vulnerable Excellent a- bbb bbb BBB/Stable/-- Financial Risk: MINIMAL Highly leveraged Minimal Anchor Modifiers Group/Gov't Russia National Scale NR/--/-- Credit Highlights Overview Key strengths Key risks Low leverage, with RUB222.1 billion of reported debt at year-end 2020, and High consolidated capital expenditure (capex), with about funds from operations (FFO) to debt above 60% in our base-case scenario RUB200 billion planned for 2021 Very low cost position Large LNG investment ambitions, where financing and project structure are yet to be confirmed Stable quasi-utility domestic gas business Increasing oil and gas industry risks from energy transition, including price volatility and growing ESG pressures Healthy profitability of joint ventures (notably Yamal LNG), and non-recourse Current U.S.
[Show full text]
Deal Drivers Russia
February 2010 Deal Drivers Russia A survey and review of Russian corporate finance activity Contents Introduction 1 01 M&A Review 2 Overall deal trends 3 Domestic M&A trends 6 Cross-border M&A trends 8 Private equity 11 Acquisition finance 13 Valuations 14 02 Industries 15 Automotive 16 Energy 18 Financial Services 20 Consumer & Retail 22 Industrial Markets 24 Life Sciences 26 Mining 28 Technology, Media & Telecommunications 30 03 Survey Analysis 32 Introduction Prediction may be fast going out of fashion. At the end of 2008, CMS commissioned mergermarket to interview 100 Russian M&A and corporate decision makers to find out what they thought about the situation at the time and what their views on the future were. Falling commodity prices were viewed as the biggest threat, the Financial Services sector was expected to deliver the greatest growth for M&A activity and the bulk of inward investment was expected from Asia. The research revealed that two thirds of the respondents expected the overall level of M&A activity to increase over the course of 2009, with only one third predicting a fall. That third of respondents was right and, in general, the majority got it wrong or very wrong. The survey did get some things right – the predominance of Who knows? What’s the point? We consider the point to be the domestic players, the increase of non-money deals, the in the detail. Our survey looks at the market in 2009 sector number of transactions against a restructuring background, by sector – what was ‘in’ and what was ‘out’.
[Show full text]
Cold-Rolled Steel, Russia, Preliminary Decision Memo
UNITI!C STATES DEPARTMENT OF COMMERCE International Trade Administration Washingt:on . D .C . 20230 C-821-823 Investigation POl: 0 1/0 1/2014 - 12/31/2014 Public Document Office Jll, Operations: KJ, SM, EBG December 15, 2015 MEMORANDUM TO: Paul Piquado Assistant Secretary for Enforcement and Compliance FROM: Christian Marsh a1v1 Deputy Assistant Secretary for Antidumping and Countervailing Duty Operations SUBJECT: Decision Memorandum for the Preliminary Affirmative Determination, Preliminary Negative Critical Circumstances Determination, and Alignment of Final Detennination With Final Antidumping Duty Determination: Countervailing Duty Investigation of Certain Cold-Rolled Steel Flat Products from the Russian Federation I. SUMMARY The Department of Commerce (the Department) preliminarily determines that countervailable subsidies are being provided to producers and exporters of certain cold-rolled steel flat products (cold-rolled steel) from the Russjan Federation (Russia), as provided in section 703 of the Tariff Act of 1930, as amended (the Act). Additionally, the Department determines that critical circumstances do not exist with regard to cold-rolled steel from Russia, as provided under section 703(e)(l )(A) of the Act. ll. BACKGROUND A. Case History On July, 28, 2015. the Department received countervailing duty (CVD) and antidumping duty (AD) Petitions concerning imports of cold-rolled steel from Russia, fil ed on behalf of the AK Steel Corporation, ArcelorMinal USA EEC, Nucor Corporation, Steel Dynamics, Inc., and United States Steel Corporation (co11ectively, Petitioners).1 On August 17, 201 5, the Department 1 See " Petitions for the Imposition of Antidumping and Countervailing Duties: Certain Cold-Rolled Steel Flat Products from Brazil, the People's Republic of China, India, Japan.
[Show full text]
To 'BB+/B' and Assigned a Negative Outlook
Various Rating Actions Taken On Russian Corporations Following The Downgrade Of Russia Primary Credit Analyst: Alexander Griaznov, Moscow (7) 495-783-4109; [email protected] Secondary Contacts: Sergei Gorin, Moscow (7) 495-783-4132; [email protected] Svetlana Ashchepkova, Moscow +7 495 783-4014; [email protected] Andrey Nikolaev, CFA, Paris (33) 1-4420-7329; [email protected] OVERVIEW • On Jan. 26, 2015, Standard & Poor's lowered its foreign currency ratings on Russia to 'BB+/B' and assigned a negative outlook. The transfer and convertibility (T&C) assessment was revised to 'BB+'. • As a result, we have reviewed our ratings on Russian corporations in the commodity exports, telecommunications, and infrastructure and utility sectors. • We are consequently lowering our ratings on 14 companies and subsidiaries, affirming the ratings on 10 companies and subsidiaries, and revising several outlooks to negative. • We are removing the ratings on these companies from CreditWatch where they were placed Dec. 30, 2014, following a similar action on the Russian sovereign. MOSCOW (Standard & Poor's) Feb. 4, 2015--Standard & Poor's Ratings Services said today that it has taken various actions on Russian corporations in the commodity exports, telecom, and infrastructure and utility sectors following the downgrade of Russia on Jan. 26, 2015 (see "Russia Foreign Currency Ratings Lowered To 'BB+/B'; Outlook Negative" published on RatingsDirect). At the same time, we removed all the ratings from CreditWatch, where we placed them with negative implications on Dec. 30, 2014 (for a full list of rating actions see the Ratings List below). WWW.STANDARDANDPOORS.COM/RATINGSDIRECT FEBRUARY 4, 2015 1 1382392 | 301103021 Various Rating Actions Taken On Russian Corporations Following The Downgrade Of Russia (We will be hosting a Webcast on Feb.
[Show full text]
Evolution in the Russian Gas Market – the Competition for Customers
Evolution in the Russian Gas Market – The Competition for Customers James Henderson NG 73 January 2013 The contents of this paper are the author’s sole responsibility. They do not necessarily represent the views of the Oxford Institute for Energy Studies, of any of the Institute’s members, and/or of the author’s other affiliations. Copyright © 2013 Oxford Institute for Energy Studies (Registered Charity, No. 286084) This publication may be reproduced in part for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgment of the source is made. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the Oxford Institute for Energy Studies. ISBN 978-1-907555-66-4 ii Abbreviations and Units of Measurement bbls Barrels bcm Billion cubic metres bcma Billion cubic metres per annum bn bbls Billion barrels boepd Barrels of oil equivalent per day bpd Barrels per day E&P Exploration and Production ESPO East Siberia – Pacific Ocean (Pipeline) FSU Former Soviet Union IOC International Oil Company kboepd Thousands of barrels of oil equivalent per day kbpd Thousands of barrels per day km Kilometres mm bbls Million barrels mcm Thousands of cubic metres mmboepd Millions of barrels of oil equivalent per day] mmbpd Millions of barrels per day mmbtu Million British thermal units mmcm Millions of cubic metres mmt Millions of tonnes mmtpa Millions of tonnes per annum Mm tonnes Millions of tonnes P&P Proved and Probable tcm
[Show full text]
US Sanctions on Russia
U.S. Sanctions on Russia Updated January 17, 2020 Congressional Research Service https://crsreports.congress.gov R45415 SUMMARY R45415 U.S. Sanctions on Russia January 17, 2020 Sanctions are a central element of U.S. policy to counter and deter malign Russian behavior. The United States has imposed sanctions on Russia mainly in response to Russia’s 2014 invasion of Cory Welt, Coordinator Ukraine, to reverse and deter further Russian aggression in Ukraine, and to deter Russian Specialist in European aggression against other countries. The United States also has imposed sanctions on Russia in Affairs response to (and to deter) election interference and other malicious cyber-enabled activities, human rights abuses, the use of a chemical weapon, weapons proliferation, illicit trade with North Korea, and support to Syria and Venezuela. Most Members of Congress support a robust Kristin Archick Specialist in European use of sanctions amid concerns about Russia’s international behavior and geostrategic intentions. Affairs Sanctions related to Russia’s invasion of Ukraine are based mainly on four executive orders (EOs) that President Obama issued in 2014. That year, Congress also passed and President Rebecca M. Nelson Obama signed into law two acts establishing sanctions in response to Russia’s invasion of Specialist in International Ukraine: the Support for the Sovereignty, Integrity, Democracy, and Economic Stability of Trade and Finance Ukraine Act of 2014 (SSIDES; P.L. 113-95/H.R. 4152) and the Ukraine Freedom Support Act of 2014 (UFSA; P.L. 113-272/H.R. 5859). Dianne E. Rennack Specialist in Foreign Policy In 2017, Congress passed and President Trump signed into law the Countering Russian Influence Legislation in Europe and Eurasia Act of 2017 (CRIEEA; P.L.
[Show full text]
Identifying Russia's Structural Leaders
June 7, 2011 GS SUSTAIN Equity Research Identifying Russia’s structural leaders Identifying long-term winners with SUSTAIN Russia Structural Leaders List We have applied the GS SUSTAIN framework to We have identified eight companies that have RUSSIA STRUCTURAL LEADERS 75 companies across our Russian coverage to delivered and in our view will continue to deliver y identify those well positioned to deliver long-term industry leading cash returns: Mechel, EDCL, Company Sector quality quartile position quartile Management CROCI CROCI average 2011- % 13E, CROCI change 2006-10, % quartile CROCI outperformance through sustained high cash Alliance Oil, Rosneft and Novatek in the natural Novatek Energy 32.1% 0.3% 1 1 1 Oil Serv & Pipe Eurasia Drilling Co 28.2% -2.1% 2 1 1 returns. The framework combines forecast cash resources space and Magnit, Cherkizovo and M- producers Mechel Steel 21.9% -0.6% 2 1 1 returns with objective measures of industry Video in the consumer segment. Investing in this Alliance Oil CompaEnergy 17.4% 0.8% 2 1 1 Magnit (GDR) Consumer 17.1% -0.2% 2 1 1 positioning and management quality, which in a list of companies would have generated over Cherkizovo Group Consumer 16.1% 1.2% 2 1 2 M-VIDEO Consumer 15.0% 1.4% 2 1 2 Russian context focus predominantly on 300% outperformance vs. the MSCI Russia since Rosneft Energy 13.9% 1.0% 2 1 2 ownership and corporate governance issues. January 2006. RUSSIA STRUCTURAL LEADERS WATCH LIST Russia at the intersection of global structural Russia Structural Leaders Watch List Company Sector dust y CROCI average 2011-13E, % CROCI change 2006-10, % quartile CROCI position quartile Management quality quartile trends Disclosure remains sub par in many Russian Uralkali Mining 38.3% 2.4% 1 1 3 Globaltrans Transport 20.3% 2.3% 1 1 3 Oil Serv & Pipe Russia’s economy and equity market are corporates and is the main reason why a number ChelPipe 18.0% -1.3% 2 1 3 producers undergoing a dramatic transformation through of companies that are forecast to generate Mail.ru Group Ltd.
[Show full text]
ALFA-BANK, PEREKRESTOK and MASTERCARD OFFER CUSTOMERS CO-BRANDED CARDS Moscow, 21 November 2016 – Alfa-Bank, X5 Retail Group
ALFA-BANK, PEREKRESTOK AND MASTERCARD OFFER CUSTOMERS CO-BRANDED CARDS Moscow, 21 November 2016 – Alfa-Bank, X5 Retail Group N.V. ("X5" or "the Company"), a leading Russian food retailer (LSE ticker: “FIVE”), and Mastercard, an international payment operator, announce the launch of a joint nationwide project at Perekrestok to issue co-branded Mastercard-Perekrestok-Alfa-Bank cards. Cardholders will earn points on all purchases that can be redeemed against goods at Perekrestok supermarkets (10 points equal RUB 1). Purchases made at Perekrestok stores earn additional points. Three types of cards will be available: reloadable prepaid cards, debit cards and credit cards. All cards use Mastercard’s innovative contactless technology, which offers a fast, simple and secure way to pay for purchases – just tap and go. Prepaid cards with RUB 99 of credit are available at Perekrestok checkouts. A prepaid card will earn 2 points for every RUB 10 spent at Perekrestok, and 1 point for every RUB 10 spent elsewhere. Customers can register and top up prepaid cards on Perekrestok’s website, the My Perekrestok mobile app and at ATMs of Alfa-Bank and its partners. For customers’ convenience, the mobile app (downloaded more than 150,000 times from the Apple App Store and Google Play in the first five months of 2016) will allow users to access their entire card transaction history. Mastercard-Perekrestok-Alfa-Bank debit and credit cards, which accumulate more points, are available at any office of Alfa-Bank, through the bank’s website or via the My Perekrestok app. Debit and credit cards earn 3 points for every RUB 10 spent at Perekrestok, and 1 point (debit cards) and 2 points (credit card) for every RUB 10 spent elsewhere.
[Show full text]
Annual Report and Accounts 2012 X5 Is One of Russia’S Leading Retail Groups, Operating Some of the Country’S Best-Known Brands Across a Variety of Store Formats
It’s all about... Annual Report and Accounts 2012 X5 is one of Russia’s leading retail groups, operating some of the country’s best-known brands across a variety of store formats. We have a clear understanding of both the challenges that we face and the opportunities that are open to us, and are very confident that we have the skills, experience and commitment to build tremendous value as we go forward into a new phase of consolidation and efficiency. Being a market leader by understanding our customers by creating multi-format stores for every lifestyle by sourcing the highest quality products by inspiring our people by being a responsible corporate citizen See more on page 02 Overview Contents Overview Overview Being a market leader 02 Highlights 22 At a glance 24 Our history 26 Chairman’s statement 28 Chief Executive’s review 30 Strategy for sustainable growth 32 Understanding Chief Executive’s The Russian retail market 34 our customers review See more on page 02 See more on page 30 Business review Business review Operational review 36 Our brands 38 Multi-Format CustomerSupply Positioning chain: commercial activities and logistics 46 Engaged and Social, corporateFocus and on Food motivated personnel environmental responsibility 48 Product safety and AreaTrade Expansion production quality 56 CustomerFinancial review 58 satisfactionExecutive Board 62 Highlights Strategy Governance Governance Experienced management Cost & See more on page 22 See moreShrinkage on page 32 Control CorporateAvailability Governance on report Shelf 64 Supervisory and Powerful, TechnologicalManagement Advantage Boards 70 Report of the Supervisory Board 72 Remuneration Report 76 USD 15,455.1 mln 1 .
[Show full text]