As equities heal from COVID-19 impact, lack of exposure to the New Generation of stocks leaves conventional benchmarks with significant absolute and relative losses YTD: Amid lower equity risk (VIX: -8.45%) and COVID-19 containment progress, the IPOX Indexes topped the global equity indexes rankings during U.S. options expiration week. Strength was broad-based and extended across IPOX Regions and Sectors. On the global level, e.g., the IPOX Global (IPGL50) – a basket of the largest global New Listings by applying the IPOX Indexes Technology – surged +6.89% to -2.39% YTD, now +1187 bps. ahead of global market YTD. By carrying 37.12% (14.03%) exposure to unique Europe-domiciled firms (including the world’s most innovative Nordic region), strong gains were be recorded by the diversified IPOX International (ETF: FPXI), which added +5.41% to -0.94% YTD, and extending the YTD lead vs. the International Market to a massive +1959 bps.
Investing in the New Generation of Stocks with “FPXI”:
IPOX China (CNI) turns positive YTD: We also note another good week for the broad-based, diversified IPOX China Core (CNI), adding +3.96% to +3.32% YTD. Companies leading the strong showing included $1.95 billion meat producer Cofco Meat (1610 HK: +29.65%), $3.38 billion electric car maker Nio (NIO US: +20.22%) and $12.7 billion GDS Holdings (GDS US: +15.96%), a leading developer and operator of high performance data centers.
Significant IPOX Holdings set to report earnings this week:
|SNAP||SNAP US||FPX||4/21 (Aft-mkt U.S.)|
|BIOGEN||BIIB US||FPX||4/22 (Bef-mkt U.S.)|
|THERMO FISHER||TMO US||FPX||4/22 (Bef-mkt U.S)|
|HERSHEY||HSY US||FPX||4/23 (Bef-mkt U.S.)|
|ELI LILLY||LLY US||FPX||4/23 (Bef-mkt U.S.)|
|SAFEHOLD||SAFE US||FPX||4/23 (Bef-mkt U.S.)|
|EVOLUTION GAMING||EVO SS||FPXI||4/23|
|VERIZON||VZ US||FPX||4/24 (Bef-mkt U.S.)|
|Long-only IPOX® Indexes Price Returns (%)||Last Week||2019||2020 YTD|
|IPOX® Indexes: Global/International|
|IPOX® Global (IPGL50) (USD)||6.89||27.93||-2.39|
|IPOX® International (IPXI)* (USD) (ETF: FPXI)||5.41||31.37||-0.94|
|IPOX® Indexes: United States|
|IPOX® Composite U.S. (USD)||4.58||24.64||-8.81|
|IPOX® 100 U.S. (IPXO)* (USD) (ETF: FPX)||5.40||29.60||-12.14|
|IPOX® ESG (IPXT) (USD)||5.38||–||–|
|IPOX® Indexes: Europe/Nordic|
|IPOX® 30 Europe (IXTE) (EUR)||3.02||34.55||-0.97|
|IPOX® Nordic (IPND)||2.19||38.52||-4.28|
|IPOX® 100 Europe (IPOE)* (USD)||2.63||30.97||-10.34|
|IPOX® Indexes: Asia-Pacific/China|
|IPOX® Asia-Pacific (IPTA) (USD)||6.37||4.41||-5.87|
|IPOX® China (CNI) (USD)||3.96||26.31||3.32|
|IPOX® Japan (IPJP)** (JPY)||5.79||37.91||-15.77|
* Basis for ETFs: FPX US, FPX LN, FPXE US, FPXU FP, FPXI US, TCIP110 IT and CME-traded e-mini IPOX® 100 U.S. Futures (IPOM0). Source: Bloomberg L.P. & Refinitiv/Thomson Reuters. For IPOX Alternative Strategies Returns, please contact [email protected]
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|MODERNA INC||47.05||BRIGHTHOUSE FINANCIAL||-17.88|
|SHOPIFY INC||41.33||AIB GROUP||-15.06|
|BAYCURRENT CONSULTING||35.90||BAWAG GROUP||-13.75|
|COFCO MEAT HOLDINGS||29.65||HOWMET AEROSPACE||-12.08|
|EQT||23.57||USEN NEXT HOLDINGS||-10.97|
|APELLIS PHARMA||23.34||APPLE HOSPITALITY REIT||-9.85|
|COUPA SOFTWARE||22.51||UNIVAR SOLUTIONS||-9.08|
|ONE LIFE HEALTHCARE||19.79||CLOUDERA||-7.55|
IPO Deal-flow Review and Outlook: Biopharma Akeso (9926 HK) set for Hong Kong trading debut. Amid COVID-19, IPO activity amongst biopharma companies remained brisk with Hong Kong listed Akeso (9926 HK) lined up for this week. Other IPO News include: 1) Apollo’s cloud services unicorn Rackspace filed confidential documents for a re-IPO, followed by Chinese software maker veteran Kingsoft’s cloud services spin-off Kingsoft Cloud; 2) fantasy sports and sports-betting provider DraftKings to proceed reverse-IPO plan; 3) Tencent-backed mobile game developer Archosaur to list in HK; 4) multiple Brazilian IPOs including Warburg-backed pet store Petz to IPO towards year-end and 5) micro-cap COVID-19 test maker Atomo Diagnostics (AT1 AU: +160.0%) surges in ASX launch.
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