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The continued pressure on financial services providers to decrease
cost-to-income ratios is driving the outsourcing of related activities
including some parts of investment research. Precious human resources
need to be focused on “core” business activities. Fund managers,
analysts at buy-side and sell-side firms, brokerage houses and investment
banks are seeking to decrease the costs of researching companies.
At ValueNotes,
our vast experience and strong domain competence in financial services
positions us well to offer services across the investment research
spectrum at a reasonable cost. Our services are delivered either
through one-off research assignments or through ongoing research
engagements. Specific services for both buy-side and sell-side firms
include:
- Equity research
/ company reports, covering company's operations, financials,
strategies, industry outlook, management, key positives and negatives,
valuation, share price movements and future earnings projections
- Equity research
support, across asset classes including equities, fixed income,
property, infrastructure, hedge funds and other alternative investment
classes
- Sector research
reports, which includes equity research on key companies in the
sector
- Index / share
price tracking and monitoring (trading comparables)
- Financial modeling and maintenance, for scalable and actionable
investment analysis
- Investment appraisals
- In-depth proprietary Equity Research reports on Indian companies
Covenant monitoring and debt stress
testing for a global fixed income fund manager
Created and updated financial models of selected global companies by integrating both financial and operational metrics. This also included projecting financial numbers based on underlying assumptions of growth. Stress tested debt covenants of these companies at varying levels of revenue and utilization, for ability to meet debt commitments. Analysis enabled fund manager to take an informed view on fixed income exposure to these companies.
Maintenance and update of banking financial
models
Periodic updates of a detailed analytical financial model of all major
banks in Australia. The database is updated overnight on the day of
the results and enables the banking analyst of the client to take
a future call on the stock the very next day.
Built and maintained financial models
of all listed property companies in Europe
Constructed a financial model of all listed property companies in Europe to enable the newly set up European property fund monitor key fundamentals in the industry.
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Built and maintained financial models
of global listed infrastructure companies
Constructed a financial model of all listed infrastructure companies which included financial numbers as well as relevant statistics (for instance, number of toll roads owned and operated, lease expiry dates, concessions from the government / regulator, etc) to enable the client set up and monitor their listed infrastructure mandate.
Statistical analysis to gauge effectiveness
of portfolio allocation strategies for an Asia Pacific asset manager
Back tested portfolio modeling and allocation strategies of a major
international fund manager for its effectiveness in delivering the
best relative returns. Statistical methods used included Spearman's
rank correlation, standard deviation and co-efficient of variation.
Analysis was also used to comment on the stock rating policy employed
by the client and the extent of correlation between stock performance
and ranking/rating.
Sensitivity analysis of a banking stock
for a fund manager
Detailed statistical analysis of a major banking and financial services
stock to establish its relationship (sensitivity) with global and
local interest rates (nominal and real) and the benchmark index. Analysis
included the use of correlation and regression models to explain past
behavior and predict future movements.
Equity research reports for a Asian
investment bank
Developed in-house financial modelling templates to evaluate select
companies’ operations, financials, strategies, industry outlook, management
and highlighted key issues affecting future earnings.
Investment appraisal of major Indian
IT Company for a global PE firm
Analyzed the competitive positioning, management, financial structure,
valuation and future earnings projections, SWOT and industry outlook
of the target company to arrive at an investment recommendation.
Company reports for a global asset management
company
Detailed reports of target companies for investment analyzing organization
structure, business model, market positioning trends, product positioning,
strategic initiatives, financial analysis, consensus analyst views,
valuation, share price movements and projected growth.
Series of equity research reports for
an investment advisory firm
Covered company operations, financials, strategies, industry outlook,
management, key positives and negatives, trends and insights and valuation.
Financial modeling for a Top Four Australian
bank
Modeled a comprehensive financial template to enable effective financial analysis of investments in casinos. Included historical fundamental analysis, forecasting tools, valuation, scenario analysis and event impact evaluation.
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