EVENTS:   Best Equity Short Ideas Conference Call 12 - Zach Shannon/Corto Capital Advisors & Craig Huber/Huber Research Partners & Thomas Beevers /Forensic Alpha & Ed Steele/Iron Blue Financials & Bill Campbell/Paragon Intel - 12 Nov 25   Will AI Deflate the World? Macro Lessons from Three Industrial Revolutions and China - Manoj Pradhan/Talking Heads Macro - 13 Nov 25     ROADSHOWS: Forest Products Sector Equity and Commodity Research With Expertise in Distressed Debt - Kevin Mason /ERA Research   •   London   12 - 14 Nov 25       Buyside to Buyside Forum and Expert Calls across TMT, Consumer, Healthcare and Fintech - Andrew Peters /Revelare Partners   •   London   17 - 19 Nov 25       Fundamental US Healthcare Short Ideas - Dr Elliot Favus /Favus Institutional Research   •   London   17 - 19 Nov 25      

Fortnightly Publication Highlighting Latest Insights From IRF Providers

Company Research

FWD Group Holdings (FWD)

Financials

Aequitas Research

Growing fast but strategy remains unclear - Hong Kong tycoon Richard Li's pan-Asian life insurer aims to raise up to US$3bn in its US IPO. FWD continues to derive the bulk of its premium from slower growth markets and appears to be divesting out of a high growth market as well. Sumeet Singh also fails to see how the company has disrupted the distribution channel or is doing anything different vs. other listed firms. In addition, there are several related party issues investors should consider.

Edition: 120

- 01 October, 2021