Our retail research team has created 3 stock lists, namely Growth, Value and Yield.
|The Growth List comprises of small-mid capitalisation companies with business catalysts which will potentially grow their earnings in the near future. The Growth portfolio would be suitable for investors looking for higher returns and are willing to tolerate the risk of higher short-term volatility of stock prices.|
|The Value List focuses on companies which are undervalued based on their share prices as compared to the company fundamentals. It would be suitable for conservative investors who prefer price stability and have a longer investment horizon.|
|The Yield List comprises of stocks that provide consistent dividend pay-out. It would be suitable for investors whose primary focus is to gain regular dividend income from their investments.|
March Market Overview
Equities saw a volatile month in Mar amid the trade spat between US and China, which caused investor panic over a possible trade war.
Last month, US President Donald Trump slapped tariffs on imported steel and aluminium, and subsequently made a separate proposal to impose further duties on up to US$60b worth of goods imported from China.
The market volatility shaved the three-month YTD gain on the STI to 0.7% against the 3.4% rise in Feb. On an unweighted basis, STI constituents lost 1.7% YTD.
Against this backdrop, our Growth, Value, Yield (GVY) basket of stocks were relatively resilient with an average YTD return of 16%.
Growth List +29.9% YTD
The Growth portfolio was boosted mainly by the outperformance of AEM following the release of a stellar set of 4Q17 results, driven by strong sales of test handlers and relevant consumables to its key semiconductor customer, as well as a higher-than-expected dividend payout.
Management remains optimistic on its business outlook, as the group continues to ride on the multi-year commercial roll-out of its test handler platforms, and acquire complementary businesses to diversify its customer and product portfolios.
Value List -6.5% YTD
Performance for the Value portfolio continued to be negative in the current environment, which favours large caps and growth stocks
Yield List +4.5% YTD
The Yield portfolio was bolstered by returns from UMS, which continued to see increased interest on the back of the positive outlook in the semiconductor industry.
Note: * Including dividends
** Priced in USD
This document is not research material and it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research. This document does not necessarily represent the views of every function within Maybank Kim Eng Securities.
This document is being distributed for general information only and it does not constitute an offer, recommendation or solicitation to enter into any transaction or adopt any hedging, trading or investment strategy, in relation to any securities or other financial instruments. This document is for general evaluation only, it does not take into account the specific investment objectives, financial situation or particular needs of any particular person or class of persons and it has not been prepared for any particular person or class of persons.
Opinions, projections and estimates are solely those of Maybank Kim Eng Securities at the date of this document and subject to change without notice. Past performance is not indicative of future results and no representation or warranty is made regarding future performance. Any forecast contained herein as to likely future movements in rates or prices or likely future events or occurrences constitutes an opinion only and is not indicative of actual future movements in rates or prices or actual future events or occurrences (as the case may be).
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