Kasikornbank Public Co Ltd $ 4.86 0 (0%)
Kasikornbank Public Co Ltd News and Headlines -
Established a year later in 1945, Kasikornbank (BKK:KBANK) is Thailand’s fourth-largest bank. The company provides a broad range of consumer, commercial and corporate banking services, including lending, deposit-taking, credit-card services, international-trade financing, custodian services, asset management, investment banking, life insurance and leasing. Moreover, Kasikornbank is the leader in Thailand’s small-/mid-enterprise lending market, which offers higher margins than retail and corporate lending segments.
The Thai banking industry is in the midst of a credit cycle where asset quality started deteriorating in 2015 due to the slowing economy. In descending order of credit risk, small-/ mid-enterprise lending has represented the highest level
The Matthews Pacific Tiger Fund (Trades, Portfolio) lost 1.3% in its returns in 2015, a rather sharp drop from its 11.79% return rate the year before, but remained true to its commitment to Asian investments in its first-quarter deals.
The fund trimmed its stake in Swire Pacific Ltd. (HKSE:00019), a London-based conglomerate with core businesses in property, aviation, beverages and marine services, by nearly 38% with the sale of 1.7 million shares for an average price of HK$77.61 ($10 in U.S. currency) per share. The deal had a -0.29% impact on the fund’s portfolio.
The remaining stake
The Fund’s most noteworthy fourth-quarter transaction was one of those new buys, Tasly Pharmaceutical Group Co. Ltd. (SHSE:600535), a Chinese pharmaceutical company in which the Fund acquired an 8,120,247-share stake for an average price of CN¥37.85 (about $5.73 in U.S. currency) per share. The deal had a 0.76% impact on the Fund’s portfolio.
The Dodge & Cox Global Stock Fund had a total return of 3.5% for the fourth quarter of 2015, compared to 5.5% for the MSCI World Index. For 2015, the Fund had a total return of –8.1%, compared to –0.9% for the MSCI World.
After a weak and volatile third quarter, global equity markets appreciated during the fourth quarter: the MSCI World was up 6% in both local currency terms and U.S. dollars. Within the MSCI World, every region and sector, except for Energy, posted gains.
In 2015, the U.S. dollar’s sharp appreciation against both developed and emerging
The Dodge & Cox International Stock Fund had a total return of –0.3% for the second quarter of 2015, compared to 0.6% for the MSCI EAFE (Europe, Australasia, Far East) Index. For the six months ended June 30, 2015, the Fund had a total return of 3.9%, compared to 5.5% for the MSCI EAFE. At quarter end, the Fund had net assets of $69.7 billion with net cash of 1.7%.
During the second quarter, developed equity markets modestly declined in local currency terms. However, the U.S. dollar’s depreciation against developed market currencies (e.g., euro, British pound) was a
While it’s often claimed that this bull market is the least appreciated in memory, the problem is our memories. As detailed in my 2011 book, Markets Never Forget (but People Do), our memories of past markets are incredibly inaccurate. This bull market turns out to be pretty darned normal for one following such a huge bear market.
The biggest bear markets have historically created enough skeptics to make the subsequent bull runs feel unjustified or death-defying. That’s the famous “wall of worry” that we’re currently climbing over. Remember Sir John Templeton’s famous phrase, “The four most dangerous words in investing
The Dodge & Cox International Stock Fund had a total return of –2.7% for the third quarter of 2014, compared to –5.9% for the MSCI EAFE (Europe, Australasia, Far East) Index. For the nine months ended September 30, 2014, the Fund had a total return of 5.0%, compared to –1.4% for the MSCI EAFE. At quarter end, the Fund had net assets of $64.7 billion with a cash position of 1.7%.
In local currency, global equity markets increased slightly during the third quarter. However, the U.S. dollar’s significant appreciation against both developed and emerging market currencies was a