DOCSLIB.ORG

FTSE Emerging Minimum Variance

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
FTSE Emerging Minimum Variance 2 FTSE Russell Publications 19 August 2021 FTSE Emerging Minimum Variance Indicative Index Weight Data as at Closing on 30 June 2021 Index Index Index Constituent Country Constituent Country Constituent Country weight (%) weight (%) weight (%) 360 Security (A) (SC SH) 0.04 CHINA Asustek Computer Inc 0.21 TAIWAN Beijing Capital International Airport (H) 0.09 CHINA 3M India 0.08 INDIA Asymchem Laboratories Tian Jin (A) (SC 0.02 CHINA Beijing Enterprises Holdings (Red Chip) 0.06 CHINA 51job ADS (N Shares) 0.07 CHINA SZ) Beijing Enterprises Water Group (Red 0.07 CHINA ABB India 0.14 INDIA Atacadao SA 0.15 BRAZIL Chip) Abdullah Al Othaim Markets 0.21 SAUDI ARABIA AU Optronics 0.07 TAIWAN Beijing Jingneng Clean Energy (H) 0.1 CHINA Aboitiz Power 0.17 PHILIPPINES AU Small Finance Bank 0.06 INDIA Beijing New Building Materia(A) (SC SZ) 0.02 CHINA Abu Dhabi Commercial Bank 0.05 UAE Autobio Diagnostics (A) (SC SH) 0.04 CHINA Beijing Oriental Yuhong Waterproof 0.03 CHINA Abu Dhabi Islamic Bank 0.11 UAE Autohome ADS (N Shares) 0.06 CHINA Technology (A) (SC SZ) ACC 0.09 INDIA Avenue Supermarts 0.12 INDIA Beijing Originwater Technology (A) (SC SZ) 0.06 CHINA Accton Technology 0.07 TAIWAN AVI 0.12 SOUTH AFRICA Beijing Shougang (A) (SC SZ) 0.06 CHINA Acer 0.13 TAIWAN Avic Aircraft (A) (SC SZ) 0.04 CHINA Beijing SL Pharmaceutical (A) (SC SZ) 0.03 CHINA ADAMA (A) (SC SZ) 0.02 CHINA Avic Aviation High-Technology (A) (SC SH) 0.02 CHINA Beijing Tiantan Biological Products (A) (SC 0.08 CHINA SH) Adani Gas 0.03 INDIA AVIC Electromechanical (A) (SC SZ) 0.02 CHINA Beijing Wangfujing Department Store (A) 0.03 CHINA Adani Green Energy 0.08 INDIA Avic Heavy Machinery (A) (SC SH) 0.03 CHINA (SC SH) Administradora Fibra Danhos S.A. de C.V. 0.03 MEXICO AVIC Jonhon OptronicTechnology (A) (SC 0.14 CHINA Beijing Yanjing Brewery(A) (SC SZ) 0.06 CHINA ADVANCED INFO SERVICE 0.17 THAILAND SZ) Beijing Zhongke Sanhuan High-Tech (A) 0.01 CHINA Advanced Petrochemical Co. 0.2 SAUDI ARABIA AVIC SHENYANG AIRCRAFT (A) (SC SH) 0.07 CHINA (SC SZ) Advantech 0.1 TAIWAN AviChina Industry & Technology (H) 0.03 CHINA Berger Paints India 0.1 INDIA Aecc Aero Engine Control (A) (SC SZ) 0.03 CHINA AVICOPTER (A) (SC SH) 0.08 CHINA Berli Jucker 0.09 THAILAND AECC Aviation Power (A) (SC SH) 0.02 CHINA Axiata Group Bhd 0.14 MALAYSIA Betta Pharmaceuticals (A) (SC SZ) 0.01 CHINA AES Gener S.A. 0.04 CHILE Ayala Corporation 0.07 PHILIPPINES BGI Genomics (A) (SC SZ) 0.05 CHINA Agile Group Holdings (P Chip) 0.02 CHINA Ayala Land 0.05 PHILIPPINES Bharat Petroleum Corp 0.06 INDIA Agility Public Warehousing Co KSC 0.15 KUWAIT B.Grimm Power 0.02 THAILAND Bharti Airtel 0.06 INDIA Agricultural Bank of China (A) (SC SH) 0.19 CHINA Bachoco Ubl 0.16 MEXICO Bilibili ADS (N Shares) 0.07 CHINA Agricultural Bank of China (H) 0.12 CHINA Baidu ADS (N Shares) 0.03 CHINA BIM Birlesik Magazalar 0.21 TURKEY Aguas Andinas S.A. A 0.06 CHILE Bajaj Auto Limited 0.1 INDIA Biocon 0.07 INDIA Ahli United Bank B.S.C. 0.17 KUWAIT Bajaj Holdings & Investment 0.07 INDIA Bloomberry Resorts 0.06 PHILIPPINES Air Arabia 0.13 UAE Banca Transilvania S.A. 0.11 ROMANIA Bluestar Adisseo (A) (SC SH) 0.03 CHINA Akbank 0.05 TURKEY Banco de Chile 0.06 CHILE Boe Technology Group (B) 0.08 CHINA Al Rajhi Banking & Investment Corp 0.21 SAUDI ARABIA Banco de Credito 0.01 CHILE Boubyan Bank KSC 0.23 KUWAIT Aldar Properties PJSC 0.04 UAE Banco Santander - Chile 0.05 CHILE Boubyan Petrochemicals Co 0.2 KUWAIT Alibaba Pictures Group (P Chip) 0.02 CHINA Bangkok Bank (F) 0.07 THAILAND Boya Bio pharmaceutical Group (A) (SC 0.04 CHINA Alinma Bank 0.19 SAUDI ARABIA Bangkok Bank PCL (NVDR) 0.06 THAILAND SZ) A-Living Services (H) 0.02 CHINA Bangkok Dusit Medical Services PCL 0.09 THAILAND Britannia Industries 0.09 INDIA Alkem Laboratories 0.27 INDIA Bangkok Expressway and Metro 0.05 THAILAND British American Tobacco (Malaysia) 0.12 MALAYSIA Alliance Bank Malaysia 0.09 MALAYSIA Bangkok Life Assurance PCL 0.1 THAILAND BTS Group Holdings PCL 0.04 THAILAND Alliance Global 0.08 PHILIPPINES Bank Albilad 0.1 SAUDI ARABIA Bumrungrad Hospital 0.17 THAILAND Almarai Co Ltd 0.28 SAUDI ARABIA Bank Al-Jazira 0.17 SAUDI ARABIA BUPA Arabia 0.2 SAUDI ARABIA ALROSA ao 0.1 RUSSIA Bank Central Asia 0.05 INDONESIA Burgan Bank 0.14 KUWAIT Aluminum Corp of China (A) (SC SH) 0.02 CHINA Bank of Beijing (A) (SC SH) 0.16 CHINA By-health (A) (SC SZ) 0.07 CHINA Ambev SA 0.03 BRAZIL Bank of Changsha (A) (SC SH) 0.06 CHINA C&S Paper (A) (SC SZ) 0.1 CHINA Ambuja Cements 0.09 INDIA Bank of Chengdu (A) (SC SH) 0.05 CHINA Cadila Healthcare 0.2 INDIA America Movil L 0.08 MEXICO Bank of China (A) (SC SH) 0.19 CHINA CanSino Biologics (H) 0.06 CHINA AMMB Holdings 0.18 MALAYSIA Bank of China (H) 0.15 CHINA Capital Securities 0.19 TAIWAN Anadolu Efes 0.05 TURKEY Bank of Communications (A) (SC SH) 0.21 CHINA Carabao Group 0.05 THAILAND Angang Steel (A) (SC SZ) 0.07 CHINA Bank of Communications (H) 0.14 CHINA Castrol 0.12 INDIA Angel Yeast (A) (SC SH) 0.04 CHINA Bank of Guiyang (A) (SC SH) 0.05 CHINA Catcher Technology 0.07 TAIWAN Anglogold Ashanti 0.12 SOUTH AFRICA Bank of HangZhou (A) (SC SH) 0.07 CHINA Cathay Financial Holding 0.22 TAIWAN Anhui Anke Biotechnology (Group) (A) (SC 0.07 CHINA Bank of India 0.04 INDIA CECEP Wind-Power (A) (SC SH) 0.05 CHINA SZ) Bank of Jiangsu (A) (SC SH) 0.11 CHINA Cementos Chihuahua 0.18 MEXICO Anhui Conch Cement (A) (SC SH) 0.04 CHINA Bank Of Nanjing (A) (SC SH) 0.09 CHINA Cencosud 0.06 CHILE Anhui Conch Cement (H) 0.05 CHINA Bank of Ningbo (A) (SC SZ) 0.02 CHINA CEZ 0.15 CZECH Anhui Expressway (A) (SC SH) 0.02 CHINA Bank of Qingdao (A) (SC SZ) 0.02 CHINA REPUBLIC Anhui Expressway (H) 0.08 CHINA Bank of Shanghai (A) (SC SH) 0.17 CHINA CGN Power (H) 0.14 CHINA Anhui Gujing Distillery (B) 0.13 CHINA Bank of Suzhou (A) (SC SZ) 0.02 CHINA Chang Hwa Commercial Bank 0.17 TAIWAN Anhui Wenergy (A) (SC SZ) 0.02 CHINA Bank of The Philippine Islands 0.04 PHILIPPINES Changchun High & New Technology 0.05 CHINA Bank of ZhengZhou (A) (SC SZ) 0.08 CHINA Anhui Xinhua Media (A) (SC SH) 0.02 CHINA Industry Group (A) (SC SZ) Banque Saudi Fransi 0.05 SAUDI ARABIA Apollo Hospitals Enterprise 0.08 INDIA Changsha Jingjia Microelectronics (A) (SC 0.02 CHINA Arab National Bank 0.09 SAUDI ARABIA Baoshan Iron & Steel (A) (SC SH) 0.05 CHINA SZ) ARAMEX 0.02 UAE Barwa Real Estate Co 0.19 QATAR Changzhou Xingyu Automotive Lighting 0.07 CHINA Arca Continental SAB de CV 0.17 MEXICO Bashneft (PREF A) 0.07 RUSSIA Systems (A) (SC SH) Arcelik 0.06 TURKEY Bata India 0.05 INDIA Charoen Pokphand Foods PCL 0.03 THAILAND Aselsan Elektronik Sanayi 0.05 TURKEY Bayer Cropscience 0.15 INDIA Cheng Shin Rubber Industry 0.17 TAIWAN Asia Cement 0.23 TAIWAN BBMG (A) (SC SH) 0.06 CHINA Chengdu Kanghong Pharmaceuticals 0.02 CHINA Asian Paints 0.14 INDIA BBMG (H) 0.05 CHINA Group (A) (SC SZ) ASMedia Technology 0.01 TAIWAN BDO Unibank 0.02 PHILIPPINES Chengdu Xingrong Investment (A) (SC SZ) 0.04 CHINA Aspen Pharmacare Holdings 0.02 SOUTH AFRICA Becle S.A.B. de C.V. 0.15 MEXICO Chicony Electronics 0.16 TAIWAN Astral 0.08 INDIA Beijing Capital (A) (SC SH) 0.06 CHINA China Aerospace Times Electronics (A) 0.03 CHINA Astro Malaysia Holdings 0.11 MALAYSIA Beijing Capital Development (A) (SC SH) 0.04 CHINA (SC SH) Source: FTSE Russell 1 of 6 19 August 2021 Index Index Index Constituent Country Constituent Country Constituent Country weight (%) weight (%) weight (%) China Airlines 0.23 TAIWAN Chinese Universe Publishing and Media (A) 0.04 CHINA Emirates Telecommunications Group Co 0.16 UAE China Avionics Systems (A) (SC SH) 0.05 CHINA (SC SH) PJSC China Cinda Asset Management (H) 0.05 CHINA Chongqing Brewery (A) (SC SH) 0.13 CHINA Empresas CMPC S.A. 0.03 CHILE China Citic Bank (A) (SC SH) 0.14 CHINA Chongqing Changan Automobile (B) 0.11 CHINA Enel Americas S.A. 0.04 CHILE China Citic Bank (H) 0.1 CHINA Chongqing Department Store(A) (SC SH) 0.03 CHINA Enel Chile SA 0.06 CHILE China Coal Energy (A) (SC SH) 0.1 CHINA Chongqing Rural Commercial Bank (H) 0.08 CHINA Energisa S/A 0.06 BRAZIL China Coal Energy (H) 0.15 CHINA Chongqing Water Group (A) (SC SH) 0.03 CHINA Enerjisa Enerji 0.07 TURKEY China Communications Services (H) 0.05 CHINA Chongqing Zhifei Biological Products (A) 0.08 CHINA Engie Brasil 0.1 BRAZIL China Conch Venture Holdings (P Chip) 0.13 CHINA (SC SZ) Engie Energia Chile SA 0.04 CHILE China Construction Bank (A) (SC SH) 0.14 CHINA Chunghwa Telecom 0.3 TAIWAN Enka Insaat 0.19 TURKEY China Construction Bank (H) 0.14 CHINA Cia Cervecerias Unidas 0.11 CHILE ENN Energy Holdings (P Chip) 0.16 CHINA China Cssc Holdings (A) (SC SH) 0.09 CHINA Cia de Transmissao de Energia Eletrica P 0.12 BRAZIL Entel 0.06 CHILE China Development Financial Holdings 0.22 TAIWAN CIMB Group Holdings 0.08 MALAYSIA Equatorial Energia S/A Ord 0.08 BRAZIL China Everbright Bank (A) (SC SH) 0.1 CHINA Cinda Real Estate Co (A) (SC SH) 0.02 CHINA Eregli Demir Ve Celik 0.13 TURKEY China Everbright Bank (H) 0.06 CHINA Cipla 0.18 INDIA Eternal Chemical 0.22 TAIWAN China Everbright International (Red Chip) 0.04 CHINA CITIC (Red Chip) 0.07 CHINA Etihad Etisalat Co 0.17 SAUDI ARABIA China Fortune Land Development (A) (SC 0.01 CHINA Citic Guoan Information Indus(A) (SC SZ) 0.01 CHINA EVA Airways 0.19 TAIWAN SH) Citic Pacific Special Steel Group (A) (SC 0.03 CHINA Evergreen Marine 0.56 TAIWAN China Gas Holdings (P Chip) 0.12 CHINA SZ) Exide Industries 0.08 INDIA China International Marine Containers (A) 0.06 CHINA Clicks Group Ltd 0.08 SOUTH AFRICA Ezdan Holding 0.11 QATAR (SC SZ) CMST Development (A) (SC SH) 0.01 CHINA Far East Horizon (P Chip)
Load more

Recommended publications
  • Ulker Gida HOLD
    Equity Research - TURKEY June 27, 2007 Confectionery ULKER TI Initiating Coverage Ulker Gida HOLD NEUTRAL FLAVOUR Market Value We initiate coverage of Ulker Gida with a HOLD rating, as we Close (TRY / $)* 5.65 / 4.28 believe current price levels largely reflect the Company’s Current MCap.* TRY 1362 mn prospects. The key elements of our recommendation may be Target Value summarised as follows: 1) Moderate topline growth -- We expect Target Price (TRY) TRY 6.45 Ulker Gida’s topline to grow slightly above Turkey’s GDP within Upside (Downside) 14% 2007-2016. Note that, with a conservative approach, our model Capitalisation excludes potentially value-accretive plans that are on the Company’s agenda, due to a lack of crucial data. 2) Conservative Enterprise Val. TRY 1343 mn improvement in EBITDA margin -- We expect the EBITDA margin Net Debt TRY 121 mn improvement to be 0.4 pp on average within 2008-2016, due to the Minority Interest TRY 184 mn Company’s moderate pricing policy. 3) Fair valuation -- Our 12- Financial Assets TRY 325 mn month per share target price of TRY6.45 represents 14% upside. Number of Shares 241 mn Although the stock is trading at a 15% average discount to its Free Float 29% international peers based on 2007E/2008E P/E and EV/EBITDA Performance multiples, our DCF model points to 11% upside. Avg. Daily Vol. $5.2 mn Topline growth slightly above GDP -- The biscuit consumption level per capita Life H/L ($) 6.10 / 0.20 52w H/L (TRY) 6.19 / 2.95 in Turkey, which is mostly related with GDP per capita level and consumption habits, is significantly below European norms.
    [Show full text]
  • Oportunidades De Inversión En El Mercado Asegurador Saudí
    COLEGIO UNIVERSITARIO DE ESTUDIOS FINANCIEROS GRADO EN ADMINISTRACIÓN Y DIRECCIÓN DE EMPRESAS Trabajo Fin de GRADO Oportunidades De Inversión En El Mercado Asegurador Saudí Autor: Durán Vieira, Emilio Tutor: Bobillo Carballo, Elvira Madrid, junio de 2018 Tabla de contenido INTRODUCCIÓN ............................................................................................................ 4 1. ARABIA SAUDÍ ....................................................................................................... 5 1.1. Situación macroeconómica ............................................................................ 6 2. SECTOR SEGUROS................................................................................................ 11 2.1. Tamaño del mercado de seguros no vida ..................................................... 13 2.2. Penetración del mercado ............................................................................. 14 2.3. Densidad del mercado ................................................................................. 15 2.4. Ratio combinado ......................................................................................... 16 2.5. Ratio de retención ....................................................................................... 17 2.6. Clasificación por tipo de seguro ................................................................... 18 2.6.1. Seguros de vida .................................................................................... 18 2.6.2. Seguros de vehículos ..........................................................................
    [Show full text]
  • Financial Statements Fidelity® Global Ex U.S
    Fidelity® Emerging Markets Index Fund Fidelity® Global ex U.S. Index Fund Semi-Annual Report April 30, 2021 Contents Note to Shareholders 3 Fidelity® Emerging Markets Index Fund 4 Investment Summary 5 Schedule of Investments 23 Financial Statements Fidelity® Global ex U.S. Index Fund 27 Investment Summary 28 Schedule of Investments 55 Financial Statements Notes to Financial Statements 59 Shareholder Expense Example 64 Liquidity Risk Management Program 65 To view a fund’s proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission’s (SEC) web site at http://www.sec.gov. You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines. The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds. Standard & Poor’s, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation. Other third-party marks appearing herein are the property of their respective owners. All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2021 FMR LLC. All rights reserved. This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds.
    [Show full text]
  • Business Administration CAREER SERVICES FLYER FIRST DESTINATION SURVEY 2017-2018
    The School of Business Administration CAREER SERVICES FLYER FIRST DESTINATION SURVEY 2017-2018 98% 481 89% Success Total Knowledge Rate Responses Rate Destination Responses Percentages Employed 378 79% Attending Graduate School 78 16% Post-Graduation Internship 5 1% Personal Interests 5 1% Military Service 3 <1% Volunteer or Service Program 1 <1% Actively Seeking Employment 9 2% Actively Seeking Education 2 <1% Survey data includes graduates from August 2017, December 2017, May 2018 *Knowledge rate indicates the inclusion of multiple sources of data CAREER SERVICES CONTACT HOURS DROP-INS SOCIAL Alumni House (208 L Street) Phone: 937. 229. 2045 Monday, Thursday and Friday Monday, Thursday 300 College Park Email: [email protected] 8:30am-4:30pm 1:00-4:00pm Dayton, OH 45469-2711 Web: udayton.edu/careerservices Tuesday, Wednesday Tuesday and Wednesday 1:00-7:00pm 8:30am-7:00pm Friday - 1:00-3:00pm School of Business Administration 3 WORKING WITHIN CHOSEN FIELD OR A STEPPING STONE 99% TOWARDS IT. FIRST DESTINATION AFTER GRADUATION Destination Responses Percentages New Job 371 77% Enrolled in Graduate School 78 16% Post-Graduation Internship 5 1% Pursuing Personal Interests 5 1% Self-employed/Entreoreneur 4 1% Military 3 <1% Temporary/Contract Work Assignment 3 <1% Volunteer or Service Program 1 <1% Continuing Current Position 0 0% Freelance 0 0% Actively seeking work 9 2% Actively seeking additional education 2 <1% Total Sucess Rate 470 98% Total Respondents 481 4 School of Business Administration EMPLOYMENT OVERVIEW Respondent considers
    [Show full text]
  • Tuesday July 30, 1996
    7±30±96 Tuesday Vol. 61 No. 147 July 30, 1996 Pages 39555±39838 federal register 1 II Federal Register / Vol. 61, No. 147 / Tuesday, July 30, 1996 SUBSCRIPTIONS AND COPIES PUBLIC Subscriptions: Paper or fiche 202±512±1800 FEDERAL REGISTER Published daily, Monday through Friday, Assistance with public subscriptions 512±1806 (not published on Saturdays, Sundays, or on official holidays), by General online information 202±512±1530 the Office of the Federal Register, National Archives and Records Administration, Washington, DC 20408, under the Federal Register Single copies/back copies: Act (49 Stat. 500, as amended; 44 U.S.C. Ch. 15) and the Paper or fiche 512±1800 regulations of the Administrative Committee of the Federal Register Assistance with public single copies 512±1803 (1 CFR Ch. I). Distribution is made only by the Superintendent of Documents, U.S. Government Printing Office, Washington, DC FEDERAL AGENCIES 20402. Subscriptions: The Federal Register provides a uniform system for making Paper or fiche 523±5243 available to the public regulations and legal notices issued by Assistance with Federal agency subscriptions 523±5243 Federal agencies. These include Presidential proclamations and For other telephone numbers, see the Reader Aids section Executive Orders and Federal agency documents having general applicability and legal effect, documents required to be published at the end of this issue. by act of Congress and other Federal agency documents of public interest. Documents are on file for public inspection in the Office of the Federal Register the day before they are published, unless earlier filing is requested by the issuing agency.
    [Show full text]
  • Laporan Praktik Kerja Lapangan Pada Divisi Candy
    LAPORAN PRAKTIK KERJA LAPANGAN PADA DIVISI CANDY PT.MAYORA INDAH JATAKE 1 HANIFAH RAHMAWATI WIJAYA 8143154838 Laporan Praktik Kerja Lapangan ini ditulis untuk memenuhi salah satu persyaratan mendapatkan Gelar Ahli Madya pada Fakultas Ekonomi Universitas Negeri Jakarta PROGRAM STUDI DIII ADMINISTRASI PERKANTORAN FAKULTAS EKONOMI UNIVERSITAS NEGERI JAKARTA 2018 LEMBAR EKSEKUTIF Hanifah Rahmawati Wijaya. 8143154838. Laporan Praktik Kerja Lapangan pada Divisi Candy PT. Mayora Indah Jatake 1 . Program Studi D3 Administrasi Perkantoran, Fakultas Ekonomi, Universitas Negeri Jakarta. 2018. Laporan Praktik Kerja Lapangan ini dibuat sebagai gambaran hasil selama satu bulan praktikan melakukan kegiatan Praktik Kerja Lapangan. Tujuan utama dari kegiatan Praktik Kerja Lapangan ini agar praktikan mendapat pengalaman dan mengenal untuk beradaptasi dalam dunia kerja sesuai dengan bidang praktikan yaitu Administrasi Perkantoran. Praktikan melakukan kegiatan PKL pada Divisi Candy PT. Mayora Indah Jatake 1 departemen Administrasi Produksi dan Administrasi Payroll. Yang berlokasi di Jalan Telesonik Jatake 1 Tangerang dimulai pada tanggal 15 Januari 2018 sampai dengan 15 Februari 2018. Pekerjaan yang praktikan lakukan selama kegiatan Praktik Kerja Lapangan antara lain Mengarsipkan dokumen , Menggandakan Dokumen, Mengoreksi data, dan Mengoperasikan Libre Office. Dalam pelaksanaan kegiatan Praktik Kerja Lapangan, praktikan menghadapi beberapa kendala yang menghambat kinerja praktikan. Kendala yang dihadapi adalah sulitnya menemukan kembali arsip pada administrasi
    [Show full text]
  • BIG CHALLENGES BIG SOLUTIONS 2121 Pennsylvania Avenue, NW Washington, DC 20433 USA IFC FINANCIALS and PROJECTS 2014
    2014 2014 IFC Financials and Projects 2014 CREATING OPPORTUNITY WHERE IT’S NEEDED MOST BIG CHALLENGES BIG SOLUTIONS 2121 Pennsylvania Avenue, NW Washington, DC 20433 USA IFC FINANCIALS AND PROJECTS 2014 202 473 3800 ifc.org Big Challenges. Solutions. 2014 2014 TABLE OF CONTENTS MANAGEMENT’S DISCUSSION AND ANALYSIS 2 Executive Summary 2 Client Services 5 Liquid Assets 11 Funding Resources 11 Risk Management 13 Critical Accounting Policies 18 Results of Operations 20 Governance and Control 26 CONSOLIDATED FINANCIAL STATEMENTS AND INTERNAL CONTROL REPORTS 30 Management’s Report Regarding Effectiveness of Internal Control over External Financial Reporting 30 Auditors’ Report on Management’s Assertion on Effectiveness of Internal Control over External Financial Reporting 32 Consolidated Balance Sheets 34 Consolidated Income Statements 35 Consolidated Statements of Comprehensive Income 36 Consolidated Statements of Changes in Capital 37 Consolidated Statements of Cash Flows 39 Consolidated Statement of Capital Stock and Voting Power 41 Notes to Consolidated Financial Statements 42 Independent Auditors’ Report 100 PROJECT COMMITMENTS 103 INVESTMENT PORTFOLIO — CUMULATIVE GROSS COMMITMENTS BY REGION 124 NOTES AND DEFINITIONS 128 IFC Financials and Projects 2014 2 MANAGEMENT’S DISCUSSION AND ANALYSIS I. EXECUTIVE SUMMARY and other derivative instruments. The Management’s Discussion and Analysis contains forward looking statements which may be International Finance Corporation (IFC or the Corporation) is the identified by such terms as “anticipates,” “believes,” “expects,” largest global development institution focused on the private sec- “intends,” “plans” or words of similar meaning. Such statements tor in developing countries. Established in 1956, IFC is owned by involve a number of assumptions and estimates that are based on 184 member countries, a group that collectively determines its poli- current expectations, which are subject to risks and uncertainties cies.
    [Show full text]
  • U.S. Investors Are Funding Malign PRC Companies on Major Indices
    U.S. DEPARTMENT OF STATE Office of the Spokesperson For Immediate Release FACT SHEET December 8, 2020 U.S. Investors Are Funding Malign PRC Companies on Major Indices “Under Xi Jinping, the CCP has prioritized something called ‘military-civil fusion.’ … Chinese companies and researchers must… under penalty of law – share technology with the Chinese military. The goal is to ensure that the People’s Liberation Army has military dominance. And the PLA’s core mission is to sustain the Chinese Communist Party’s grip on power.” – Secretary of State Michael R. Pompeo, January 13, 2020 The Chinese Communist Party’s (CCP) threat to American national security extends into our financial markets and impacts American investors. Many major stock and bond indices developed by index providers like MSCI and FTSE include malign People’s Republic of China (PRC) companies that are listed on the Department of Commerce’s Entity List and/or the Department of Defense’s List of “Communist Chinese military companies” (CCMCs). The money flowing into these index funds – often passively, from U.S. retail investors – supports Chinese companies involved in both civilian and military production. Some of these companies produce technologies for the surveillance of civilians and repression of human rights, as is the case with Uyghurs and other Muslim minority groups in Xinjiang, China, as well as in other repressive regimes, such as Iran and Venezuela. As of December 2020, at least 24 of the 35 parent-level CCMCs had affiliates’ securities included on a major securities index. This includes at least 71 distinct affiliate-level securities issuers.
    [Show full text]
  • Mayora Indah Tbk (MYOR) Overweight
    Mayora Indah Tbk (MYOR) Weakening Earnings Although MYOR successfully posted strong revenue growth in 1Q21, higher raw material cost caused earnings to contract. As a result, MYOR also booked margin depreciation all across the board. Company Report | May 24, 2021 However, we still expect better earnings in the upcoming quarter supported by solid growth of domestic and export sales along with growing demand due to Ramadhan season. MYOR posted strong 1Q21 revenue Overweight • MYOR posted strong revenue of IDR7.3tn (+36.4% YoY, 6.4% QoQ). This was mainly helped by significant growth of beverage processing segment after booking a negative growth in 1Q20. Target Price (IDR) 2,700 • COGS in 1Q21 surged by 38.6% YoY to IDR5.1tn, due to the rising trend of MYOR’s main raw Consensus Price (IDR) 2,996 materials such as CPO, coffee, and sugar as we had anticipated. TP to Consensus Price -9.9% • SG&A expenses reached IDR1.2tn in 1Q21, up 8.8% QoQ and 27% YoY, driven primarily by higher vs. Last Price 7.6% Advertising & Promotion (A&P) expenses. Although we also noticed the proportion of A&P was 11% of net sales for 1Q21, relatively flat versus prior year. Shares data • Despite strong revenue performance and foreign exchange gains of IDR156bn, MYOR still reported Last Price (IDR) 2,510 lower net profit of IDR823bn (-11.7% YoY, +63.3% QoQ). Price date as of 21-May-21 • On margins side, GPM was down 120bps to 29.6% YoY, following NPM’s decline to 11.2% YoY (vs.
    [Show full text]
  • Saudi Insurance Sector- Quarterly Q1-19
    June 2019 Saudi Insurance Sector- Quarterly Q1-19 Head of Research Talha Nazar +966 11 2256250 [email protected] June 2019 Insurance Sector Report Sector report | KSA | Q1-19 Company Name Codes The Company for Cooperative Insurance Tawuniya Salama Cooperative Insurance Co. Salama UCA Cooperative Assurance Co. UCA Al-Rajhi Company for Cooperative Insurance Al Rajihi Takaful Al Alamiya for Cooperative Insurance Co. Al Alamiya Allied Cooperative Insurance Group ACIG Bupa Arabia for Cooperative Insurance Co. Bupa Arabia Arabian Shield Cooperative Insurance Co. Arabian Shield Buruj Cooperative Insurance Co. Buruj Al Sagr Cooperative Insurance Co. Sagr Insurance Malath Cooperative Insurance Co. Malath Insurance Solidarity Saudi Takaful Co. Solidarity Trade Union Cooperative Insurance Co. Al-Etihad Sanad Cooperative Insurance Company Sanad Walaa Cooperative Insurance Co. Walaa Allianz Saudi Fransi Cooperative Insurance Co. Allianz SF Al-Ahlia Insurance Co. Al Ahlia The Mediterranean and Gulf Insurance and Reinsurance Co. MEDGULF Saudi Indian Company for Cooperative Insurance Wafa Insurance SABB Takaful Co. SABB Takaful Saudi Arabian Cooperative Insurance Company SAICO Gulf Union Cooperative Insurance Co. Gulf Union Saudi Re for Cooperative Reinsurance Co. Saudi Re Arabia Insurance Cooperative Company AICC ALAHLI TAKAFUL COMPANY ATC AXA Cooperative Insurance Co. AXA-Cooperative Weqaya Takaful insurance and reinsurance Company Weqaya Takaful CHUBB Arabia Cooperative Insurance Co. Chubb Arabia Gulf General Cooperative Insurance Co. Gulf General Wataniya Insurance Co. Wataniya Amana Cooperative Insurance Co. Amana Insurance Saudi Enaya Cooperative Insurance Co. Enaya Alinma Tokio Marine Co. Alinma Tokio MetLife AIG ANB Cooperative Insurance Co. MetLife Aljazira Takaful Taawuni Co. Jazira Takaful June 2019 Insurance Sector Report Sector report | KSA | Q1-19 Gross Written Premium GWP (Gross Written Premiums) in Q1-19 stood at SAR 12.0bn depicting a jump of 8.5% Y/Y.
    [Show full text]
  • Schedule of Investments (Unaudited) Ishares MSCI Total International Index Fund (Percentages Shown Are Based on Net Assets) September 30, 2020
    Schedule of Investments (unaudited) iShares MSCI Total International Index Fund (Percentages shown are based on Net Assets) September 30, 2020 Mutual Fund Value Total International ex U.S. Index Master Portfolio of Master Investment Portfolio $ 1,034,086,323 Total Investments — 100.4% (Cost: $929,170,670) 1,034,086,323 Liabilities in Excess of Other Assets — (0.4)% (3,643,126) Net Assets — 100.0% $ 1,030,443,197 iShares MSCI Total International Index Fund (the “Fund”) seeks to achieve its investment objective by investing all of its assets in International Tilts Master Portfolio (the “Master Portfolio”), which has the same investment objective and strategies as the Fund. As of September 30, 2020, the value of the investment and the percentage owned by the Fund of the Master Portfolio was $1,034,086,323 and 99.9%, respectively. The Fund records its investment in the Master Portfolio at fair value. The Fund’s investment in the Master Portfolio is valued pursuant to the pricing policies approved by the Board of Directors of the Master Portfolio. Fair Value Hierarchy as of Period End Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows: • Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access • Level 2 – Other observable inputs (including, but not limited to, quoted prices
    [Show full text]
  • Working Together for Healthier and Happier Lives
    WORKING TOGETHER FOR HEALTHIER AND HAPPIER LIVES HRH Crown Prince Salman Abdul Aziz Al Saud First Deputy Prime Minister and Minister of Defense Bupa Arabia Annual Report 2012 1 OUR MISSION TO BE THE HEALTH & CARE LEADER IN SAUDI ARABIA BY TAKING CARE OF THE LIVES IN OUR HANDS OUR VALUES CARING RESPECTFUL ETHICAL We genuinely care about We respect people’s We are committed to acting people’s health and wellbeing. individuality, privacy and responsibly and in the best We exist for no other reason. dignity and try to respond to interest of people and the their individual needs. environment. ENABLING DEDICATED ACCOUNTABLE We empower people with our We are dedicated to providing We are accountable for the knowledge and experience to a professional, reassuring quality, efficiency and value help them choose the most service and seek opportunities of our services, and act in the appropriate solutions. to go the extra mile to exceed best interest of our customers. people’s expectations. 2 Bupa Arabia Annual Report 2012 BUSINESS REVIEW BUSINESS REVIEW BUSINESS AT BUPA ARABIA WE ARE CONVINCED THAT THE SOLUTION LIES IN WORKING TOGETHER. Loay Nazer Chairman CHAIRMAN’S MESSAGE GOVERNANCE GOVERNANCE WORKING TOGETHER TO IMPROVE HEALTH A Growing Sector In 2012, the world economy has been under great pressure driven by the sovereign debt crisis and slow growth. By contrast, the Saudi market has maintained steady growth despite fluctuating world markets and regional turbulence. The insurance market in Saudi Arabia has changed considerably over the past few years as new entrants and new regulations continue to embed and the sector continues to move towards maturity.
    [Show full text]