01 Maret 2022
Macro & Market Perspective - March 1, 2022
It’s Tough but Still Successfully Manage to Deliver Superior Strategy
Key takeaways:
•Russia-Ukraine conflict sent a signal of further production and supply chain disruption in commodity market particularly in energy and food commodities.
•Surging commodity prices such as oil and wheat could increase inflationary pressure which already high.
•Global investors still overweight equity over bond and cash in their global balanced fund during high inflation and geopolitical risk.
•Interestingly, EM equities performed better in term of return and volatility compared to DM stocks throughout 2022.
•JCI lead with gain of 4.66% on the back of massive foreign inflows. Key catalyst include : manageable inflation, lucrative valuation, sound macro policy and opportunity in corporate action.
•Our strategy since the beginning of 2022 focus on 4 pillar : 1) ESG and foreign flows; 2) M&A story in telco and tower sector; 3) sector benefitting from low interest rate as well as 4) value stock.
•Our stock picks (portfolio) has delivered superior return outperforming the benchmark by 440 bps ytd.
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