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Kohkenneth

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- KohkennethKohkenneth
  ·2021-06-10
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- KohkennethKohkenneth
  ·2021-06-09
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  Apple’s Moves to Tighten Flow of User Data Leave Advertisers Anxious
  Brands and ad-tech firms say tech giant’s push to limit how users are tracked will hurt business, wi
  Apple’s Moves to Tighten Flow of User Data Leave Advertisers Anxious
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- KohkennethKohkenneth
  ·2021-06-09
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  A $57 Billion Manager is Betting Big on Cyclical Stocks in India
  (Bloomberg) -- Shares of some lenders, telecom firms and utilities are among the top picks for India
  A $57 Billion Manager is Betting Big on Cyclical Stocks in India
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15:47","market":"us","language":"en","title":"Apple’s Moves to Tighten Flow of User Data Leave Advertisers Anxious","url":"https://stock-news.laohu8.com/highlight/detail?id=1132577035","media":"The Wall Street Journal","summary":"Brands and ad-tech firms say tech giant’s push to limit how users are tracked will hurt business, wi","content":"<blockquote>\n <b>Brands and ad-tech firms say tech giant’s push to limit how users are tracked will hurt business, with some questioning privacy rationale.</b>\n</blockquote>\n<p>Digital advertisers are studying newAppleInc.AAPL0.67%measures that they fear will limit access to data about users, changes industry participants see as an escalation of the tech giant’s crackdown in the name of consumer privacy.</p>\n<p>Apple’s changes, unveiledduring its developer conference Monday, threaten to restrict companies’ abilities to track users’ web behavior and gather information on them from third parties such as data brokers. The announcement comes months afterApple’s curbson in-app tracking roiled the digital-ad industry, and the changes will be part of a new version of Apple’s operating system this fall.</p>\n<p>While the earlier moves affected only apps within Apple’s iOS operating system, the latest changes impact a broader array of web traffic on Apple devices, leading advertisers, email marketers, publishers and ad-tech companies to anticipate broader ramifications.</p>\n<p>Apple’s changes mark “a massive step to increase the walls in the garden by making sure all access to the external world would be proxy by them,” said Tal Chalozin, chief technology officer of ad-tech company Innovid Inc.</p>\n<p>Craig Federighi, Apple senior vice president of software engineering, described the moves Monday as shielding users against data-gathering practices that many aren’t aware of. “We believe in protecting your privacy and giving you transparency and control over your information,” he said at the conference.</p>\n<p><img src=\"https://static.tigerbbs.com/7d12f3e249c54fcde3d0e592acba4b3d\" tg-width=\"319\" tg-height=\"416\">Apple will by default block users’ internet protocol addresses from being transmitted to websites visited in its Safari browser. Many companies collect a user’s IP address and combine it with other data to “fingerprint” and recognize a user’s repeat visits, often to support personalized ads. Apple has banned fingerprinting in Safari for years but left users’ IP addresses visible. Blocking those will let Apple better enforce its ban, depriving fingerprinters of a unique data point identifying Safari users.</p>\n<p>Safari enjoys browser market share of about 19% world-wide, according to a March survey by Statista, making the browser second only to Google’s Chrome.</p>\n<p>“IP blocking for trackers is a monumental development that is likely the nail in the coffin for user-centric profiling. Without an IP address to latch onto, tracking companies simply won’t be able to uniquely identify users in a way that is commercially reliable,” said Eric Seufert, a digital-marketing strategist and consultant.</p>\n<p>Industry watchers are already wondering whether Apple’s change could pressureAlphabetInc.’sGoogle to take the same step. A Google spokeswoman confirmed that the search giant has been considering a similar move to block IP addresses in its Chrome browser.</p>\n<p>Apple is also offering heightened IP blocking through a paid service that will cover the IP addresses on all of a user’s devices. A new, premium version of its existing iCloud storage service, called iCloud+, includes a features called “Private Relay,” which redirects a user’s web traffic through multiple servers to obfuscate the user’s IP address and prevent fingerprinting. That product—which won’t be available in several countries, including China—will anonymize internet traffic much as virtual private networks do.</p>\n<p>The VPN market is expected to reach $31.1 billion in 2021, according to Statista. Corporations often employ VPNs—which create a tunnel of sorts between a user’s device and the online services it accesses—to keep connections direct and private. Consumers often use them to view streaming content that isn’t available in their home regions.</p>\n<p>Users of iCloud who already pay for extra storage or other features on the service will receive iCloud+ at no additional cost, Apple said.</p>\n<p>Alex Austin, chief executive of mobile ad-measurement firm Branch Metrics Inc., said that “Private Relay could be vastly more damaging to the advertising ecosystem” than Apple’s curbs on apps earlier this year. He cautioned that some details remain unknown, however. “If IP were to go away entirely, it would be very challenging for a lot of companies to operate,” he said.</p>\n<p>Apple is also cracking down on email tracking. Most marketing emails contain hidden pixels that can identify when a recipient has opened an email. These trackers also collect information including users’ IP addresses that can tell marketers when and where their messages were opened.</p>\n<p>Even with chatbots and social-media influencers on the scene, email has remained a core tool for many companies to communicate with loyal customers, acquire new ones and build brand awareness. Apple’s changes could blunt its usefulness, ad executives said, and some voiced surprise that the tech giant extended its data-tracking curbs to users’ inboxes.</p>\n<p>“It will be a lot tougher for brands to know if their emails are working or not,” said Nii Ahene, chief strategy officer at digital ad firm Tinuiti Inc., who added that he didn’t see the move as addressing a burning privacy issue. “There are no winners here. The only winner is Apple.”</p>\n<p>Apple has said that users benefit by increased transparency and control over how data on their online behavior is used.</p>\n<p>Email marketing has also become a critical technique for retailers, public-relations firms, publishers and political candidates, among others. Companies are expected to spend $535.6 million on email ads in the U.S. this year, up 10% from 2020, according to eMarketer.</p>\n<p>Publishers have pursued new audiences and revenue streams through editorial newsletters, with many media companies commanding high prices for ads appearing there. Publishers use the tracking pixels to gather information such as how many subscribers open a newsletter. Advertisers often refer to open rates in negotiating sponsorship deals.</p>\n<p>While some public-relations executives said Apple’s new rule would make it harder to show clients that their efforts to get media coverage worked, others oppose using trackers.</p>\n<p>“This is something we have long felt is a poor practice since it only sows distrust,” said Richard Edelman, chief executive of public-relations firm Edelman.</p>\n<p><b>Corrections &amp; Amplifications</b></p>\n<p>Apple’s latest changes impact a broader array of web traffic on its devices, and Private Relay won’t be available in several countries, including China. An earlier version of this article incorrectly said the changes encompass all forms of web traffic on Apple devices and that Private Relay will be available everywhere except China. (Corrected on June 8.)</p>\n<p>Apple’s latest changes impact a broader array of web traffic on its devices, and Private Relay won’t be available in several countries, including China. An earlier version of this article incorrectly said the changes encompass all forms of web traffic on Apple devices and that Private Relay will be available everywhere except China. (Corrected on June 8.)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple’s Moves to Tighten Flow of User Data Leave Advertisers Anxious</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple’s Moves to Tighten Flow of User Data Leave Advertisers Anxious\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 15:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/apples-moves-to-tighten-flow-of-user-data-leave-advertisers-anxious-11623189903?mod=tech_lead_pos4><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Brands and ad-tech firms say tech giant’s push to limit how users are tracked will hurt business, with some questioning privacy rationale.\n\nDigital advertisers are studying newAppleInc.AAPL0.67%...</p>\n\n<a href=\"https://www.wsj.com/articles/apples-moves-to-tighten-flow-of-user-data-leave-advertisers-anxious-11623189903?mod=tech_lead_pos4\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.wsj.com/articles/apples-moves-to-tighten-flow-of-user-data-leave-advertisers-anxious-11623189903?mod=tech_lead_pos4","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132577035","content_text":"Brands and ad-tech firms say tech giant’s push to limit how users are tracked will hurt business, with some questioning privacy rationale.\n\nDigital advertisers are studying newAppleInc.AAPL0.67%measures that they fear will limit access to data about users, changes industry participants see as an escalation of the tech giant’s crackdown in the name of consumer privacy.\nApple’s changes, unveiledduring its developer conference Monday, threaten to restrict companies’ abilities to track users’ web behavior and gather information on them from third parties such as data brokers. The announcement comes months afterApple’s curbson in-app tracking roiled the digital-ad industry, and the changes will be part of a new version of Apple’s operating system this fall.\nWhile the earlier moves affected only apps within Apple’s iOS operating system, the latest changes impact a broader array of web traffic on Apple devices, leading advertisers, email marketers, publishers and ad-tech companies to anticipate broader ramifications.\nApple’s changes mark “a massive step to increase the walls in the garden by making sure all access to the external world would be proxy by them,” said Tal Chalozin, chief technology officer of ad-tech company Innovid Inc.\nCraig Federighi, Apple senior vice president of software engineering, described the moves Monday as shielding users against data-gathering practices that many aren’t aware of. “We believe in protecting your privacy and giving you transparency and control over your information,” he said at the conference.\nApple will by default block users’ internet protocol addresses from being transmitted to websites visited in its Safari browser. Many companies collect a user’s IP address and combine it with other data to “fingerprint” and recognize a user’s repeat visits, often to support personalized ads. Apple has banned fingerprinting in Safari for years but left users’ IP addresses visible. Blocking those will let Apple better enforce its ban, depriving fingerprinters of a unique data point identifying Safari users.\nSafari enjoys browser market share of about 19% world-wide, according to a March survey by Statista, making the browser second only to Google’s Chrome.\n“IP blocking for trackers is a monumental development that is likely the nail in the coffin for user-centric profiling. Without an IP address to latch onto, tracking companies simply won’t be able to uniquely identify users in a way that is commercially reliable,” said Eric Seufert, a digital-marketing strategist and consultant.\nIndustry watchers are already wondering whether Apple’s change could pressureAlphabetInc.’sGoogle to take the same step. A Google spokeswoman confirmed that the search giant has been considering a similar move to block IP addresses in its Chrome browser.\nApple is also offering heightened IP blocking through a paid service that will cover the IP addresses on all of a user’s devices. A new, premium version of its existing iCloud storage service, called iCloud+, includes a features called “Private Relay,” which redirects a user’s web traffic through multiple servers to obfuscate the user’s IP address and prevent fingerprinting. That product—which won’t be available in several countries, including China—will anonymize internet traffic much as virtual private networks do.\nThe VPN market is expected to reach $31.1 billion in 2021, according to Statista. Corporations often employ VPNs—which create a tunnel of sorts between a user’s device and the online services it accesses—to keep connections direct and private. Consumers often use them to view streaming content that isn’t available in their home regions.\nUsers of iCloud who already pay for extra storage or other features on the service will receive iCloud+ at no additional cost, Apple said.\nAlex Austin, chief executive of mobile ad-measurement firm Branch Metrics Inc., said that “Private Relay could be vastly more damaging to the advertising ecosystem” than Apple’s curbs on apps earlier this year. He cautioned that some details remain unknown, however. “If IP were to go away entirely, it would be very challenging for a lot of companies to operate,” he said.\nApple is also cracking down on email tracking. Most marketing emails contain hidden pixels that can identify when a recipient has opened an email. These trackers also collect information including users’ IP addresses that can tell marketers when and where their messages were opened.\nEven with chatbots and social-media influencers on the scene, email has remained a core tool for many companies to communicate with loyal customers, acquire new ones and build brand awareness. Apple’s changes could blunt its usefulness, ad executives said, and some voiced surprise that the tech giant extended its data-tracking curbs to users’ inboxes.\n“It will be a lot tougher for brands to know if their emails are working or not,” said Nii Ahene, chief strategy officer at digital ad firm Tinuiti Inc., who added that he didn’t see the move as addressing a burning privacy issue. “There are no winners here. The only winner is Apple.”\nApple has said that users benefit by increased transparency and control over how data on their online behavior is used.\nEmail marketing has also become a critical technique for retailers, public-relations firms, publishers and political candidates, among others. Companies are expected to spend $535.6 million on email ads in the U.S. this year, up 10% from 2020, according to eMarketer.\nPublishers have pursued new audiences and revenue streams through editorial newsletters, with many media companies commanding high prices for ads appearing there. Publishers use the tracking pixels to gather information such as how many subscribers open a newsletter. Advertisers often refer to open rates in negotiating sponsorship deals.\nWhile some public-relations executives said Apple’s new rule would make it harder to show clients that their efforts to get media coverage worked, others oppose using trackers.\n“This is something we have long felt is a poor practice since it only sows distrust,” said Richard Edelman, chief executive of public-relations firm Edelman.\nCorrections & Amplifications\nApple’s latest changes impact a broader array of web traffic on its devices, and Private Relay won’t be available in several countries, including China. An earlier version of this article incorrectly said the changes encompass all forms of web traffic on Apple devices and that Private Relay will be available everywhere except China. (Corrected on June 8.)\nApple’s latest changes impact a broader array of web traffic on its devices, and Private Relay won’t be available in several countries, including China. An earlier version of this article incorrectly said the changes encompass all forms of web traffic on Apple devices and that Private Relay will be available everywhere except China. (Corrected on June 8.)","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180467627,"gmtCreate":1623221306069,"gmtModify":1704198641141,"author":{"id":"3572352859608082","authorId":"3572352859608082","name":"Kohkenneth","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572352859608082","idStr":"3572352859608082"},"themes":[],"htmlText":"G","listText":"G","text":"G","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/180467627","repostId":"1138631471","repostType":4,"repost":{"id":"1138631471","kind":"news","pubTimestamp":1623221274,"share":"https://ttm.financial/m/news/1138631471?lang=en_US&edition=fundamental","pubTime":"2021-06-09 14:47","market":"us","language":"en","title":"A $57 Billion Manager is Betting Big on Cyclical Stocks in India","url":"https://stock-news.laohu8.com/highlight/detail?id=1138631471","media":"Bloomberg","summary":"(Bloomberg) -- Shares of some lenders, telecom firms and utilities are among the top picks for India","content":"<p>(Bloomberg) -- Shares of some lenders, telecom firms and utilities are among the top picks for India’s second-largest asset manager, as it bets on the economy to gradually emerge from the world’s worst Covid-19 outbreak.</p>\n<p>With India sticking to localized curbs instead of a nationwide lockdown amid the deadlier second coronavirus wave recently, the impact on economic activity and businesses has been much lower, according to Sankaran Naren, chief investment officer at ICICI Prudential Asset Management Co. The firm oversees about 4.1 trillion rupees ($56.6 billion) in assets.</p>\n<p>“India is yet to see a cyclical economic recovery and the business cycle is not as elevated as we see in some of the developed world,” Naren wrote in an email interview. “Unlike in a deflationary economy during which sectors like consumer staples and high-quality names gain, the current environment is best placed for cyclicals to do well.”</p>\n<p>Stocks in India have climbed to record levels even as it grappled with the worst of the health crisis, as investors continued to snap up shares on optimism over the economy’s long-term growth potential and central bank stimulus. The Reserve Bank of India this month expanded its version of quantitative easing and said it expects gross domestic product to grow 9.5% in the current fiscal year.</p>\n<p>Meanwhile, infection rates in India are now falling. New daily cases on Tuesday fell below 100,000 for the first time in two months, down from a peak of more than 400,000 in May.</p>\n<p>“The Indian business cycle is attractive given that corporates have deleveraged, credit growth is very low, the capex cycle is yet to revive and profit-to-GDP ratio is low too,” said Naren. “On the other hand, U.S. corporate profit-to-GDP ratio is high and the country has pursued extremely aggressive fiscal and monetary policy.”</p>\n<p>New Fund</p>\n<p>Focusing on cyclical and value stocks has already shown results for the money manager. The ICICI Prudential Opportunities Fund directly managed by Naren has returned 36% year-to-date, beating 96% of its peers, data compiled by Bloomberg show. Wireless operator Bharti Airtel Ltd., power-generation firm NTPC Ltd. and Axis Bank Ltd. were three of the fund’s top five holdings at the end of April, the data show.</p>\n<p>While the immediate focus for investors is the pace of India’s vaccine rollouts and its recovery from the pandemic, Naren said that one of the biggest risks to local stocks could come when global central banks take steps to taper their buying program significantly.</p>\n<p>“At that point, we expect to see a meaningful correction in asset prices and economy,” he said. “One needs to be cognizant of the fact that Indian equity valuation is no longer like what it was in March 2020.”</p>\n<p>The combined value of all shares traded in India recently rose above $3 trillion for the first time, burnishing its status as the world’s eighth-largest stock market. The benchmark S&amp;P BSE Sensex is trading at about 22 times its 12-month forward earnings estimates, versus a five-year average multiple of 18.5 times, data compiled by Bloomberg show.</p>\n<p>ICICI Prudential Asset Management is preparing to launch a “flexicap” fund by the end of this month, which Naren said will give it the freedom to deploy money across large-, medium- and small-size companies in the initial year, when the market is likely to be volatile.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>A $57 Billion Manager is Betting Big on Cyclical Stocks in India</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nA $57 Billion Manager is Betting Big on Cyclical Stocks in India\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 14:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/57-billion-manager-betting-big-061933143.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Shares of some lenders, telecom firms and utilities are among the top picks for India’s second-largest asset manager, as it bets on the economy to gradually emerge from the world’s ...</p>\n\n<a href=\"https://finance.yahoo.com/news/57-billion-manager-betting-big-061933143.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/57-billion-manager-betting-big-061933143.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138631471","content_text":"(Bloomberg) -- Shares of some lenders, telecom firms and utilities are among the top picks for India’s second-largest asset manager, as it bets on the economy to gradually emerge from the world’s worst Covid-19 outbreak.\nWith India sticking to localized curbs instead of a nationwide lockdown amid the deadlier second coronavirus wave recently, the impact on economic activity and businesses has been much lower, according to Sankaran Naren, chief investment officer at ICICI Prudential Asset Management Co. The firm oversees about 4.1 trillion rupees ($56.6 billion) in assets.\n“India is yet to see a cyclical economic recovery and the business cycle is not as elevated as we see in some of the developed world,” Naren wrote in an email interview. “Unlike in a deflationary economy during which sectors like consumer staples and high-quality names gain, the current environment is best placed for cyclicals to do well.”\nStocks in India have climbed to record levels even as it grappled with the worst of the health crisis, as investors continued to snap up shares on optimism over the economy’s long-term growth potential and central bank stimulus. The Reserve Bank of India this month expanded its version of quantitative easing and said it expects gross domestic product to grow 9.5% in the current fiscal year.\nMeanwhile, infection rates in India are now falling. New daily cases on Tuesday fell below 100,000 for the first time in two months, down from a peak of more than 400,000 in May.\n“The Indian business cycle is attractive given that corporates have deleveraged, credit growth is very low, the capex cycle is yet to revive and profit-to-GDP ratio is low too,” said Naren. “On the other hand, U.S. corporate profit-to-GDP ratio is high and the country has pursued extremely aggressive fiscal and monetary policy.”\nNew Fund\nFocusing on cyclical and value stocks has already shown results for the money manager. The ICICI Prudential Opportunities Fund directly managed by Naren has returned 36% year-to-date, beating 96% of its peers, data compiled by Bloomberg show. Wireless operator Bharti Airtel Ltd., power-generation firm NTPC Ltd. and Axis Bank Ltd. were three of the fund’s top five holdings at the end of April, the data show.\nWhile the immediate focus for investors is the pace of India’s vaccine rollouts and its recovery from the pandemic, Naren said that one of the biggest risks to local stocks could come when global central banks take steps to taper their buying program significantly.\n“At that point, we expect to see a meaningful correction in asset prices and economy,” he said. “One needs to be cognizant of the fact that Indian equity valuation is no longer like what it was in March 2020.”\nThe combined value of all shares traded in India recently rose above $3 trillion for the first time, burnishing its status as the world’s eighth-largest stock market. The benchmark S&P BSE Sensex is trading at about 22 times its 12-month forward earnings estimates, versus a five-year average multiple of 18.5 times, data compiled by Bloomberg show.\nICICI Prudential Asset Management is preparing to launch a “flexicap” fund by the end of this month, which Naren said will give it the freedom to deploy money across large-, medium- and small-size companies in the initial year, when the market is likely to be volatile.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1623,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}