Fintech Tracker: Private market valuations have been improving
Financials
Fintech operational performance remains healthy with usage and / or revenue growing in the high teens across the segments Astris tracks. Relative to their coverage, the main issues are the path that DoCoMo takes to adding banking to its fintech portfolio (Astris thinks it will build a smartphone app) and the timing and size of a PayPay IPO. In the case of the latter, a surge in private fintech values (up 30%+ in 2025) looks promising although recent market volatility adds some doubt. A longer timeline to a listing gives LY Corp / Softbank time to further expand PayPay’s fintech presence.
Edition: 207
- 21 March, 2025
Global Funds: Investor positioning insights
EM Unwind - Allocations among active Global managers have taken an aggressive move lower led by China & HK, South Korea and Brazil.
China & HK Style Switch - Value and Yield managers have aggressively reduced underweights, whilst Growth and Aggressive Growth managers have moved to new lows. AIA Group takes the crown as the most widely held stock and largest overweight.
Asia's Communication Services Fall - Ownership breaking new lows led by Tencent, Nintendo, NetEase and Nippon Telegraph.
Energy Conviction Underweight - TotalEnergies is the most widely held stock, but there is little conviction or consensus to suggest managers are concerned over long-term outperformance of Energy vs. sector peers.
Edition: 129
- 18 February, 2022