MIDAS Equity Investment Process
Equity Management Style
BOTTOM-UP
- Bottom-up approach based on strong fundamental analy-sis
- Precise analysis on markets' structural changes and trends
TOP-DOWN
- Top-down approach by actively searching investment opportunities accompanied with reasonable decisions
Research Based Model Portfolio
Comprehensive decisions based on each managers' various perspectives & Strong in-depth research
Our goal is to deliver sustainable profit to our clients.
- We manage our portfolio based on team work approach that brings together the bottom-up research and the market-focused top down approach.
- Our multiple team structure brings together specialized investment ideas with distinct style
- Our sector analysts' strong research with acute decisions of Portfolio managers can
- Our goal is to make acute decisions based on diverse investment ideas
- Active risk management to avoid unintended risk by using derivatives
Equity Investment Process
Equity Investment Process
- Investment Committee
- develops investment strategy
- confirms the Investment Universe(IU) / Model Portfolio(MP)
- Risk & Compliance
Management Committee
- checks compliance rules
- risk management
- In-house Sector Manage
- configure the Investment Universe(IU)
- build out Model Portfolio(MP)
SETOR FUND
- MODEL PORTFOLIO
- adjusts the weights of sectors
- Equity Management Part
- manages the actual portfolio (AP) based in MP
Manages a fund by its style
- The investment strategy committee develops one model-portfolio based on each managers' sector portfolio.
- Our managers build each portfolio based on one model-portfolio
- The investment strategy committee determines the model portfolio, investment universe
Decision making process
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Screen the Universe
- Screen the investment universe(IU) with qualitative and quantitative analyzing.
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Fundamental Stock Research & Valuation
- Sector managers' in-depth research to draw fair value.
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Determine Stock Position
- Our sector managers are responsible for composition of each sector portfolio
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Determine Model Portfolio
- We try to minimize risks by
- 1) periodic reviewing / stress testing of our portfolio.
- 2) applying sell discipline for every sector
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Actual Portfolio
- The portfolio managers are responsible for AP with full discretion.
Research Process
Sector manager system
Our researchers are called "sector managers" Our responsible investment system is backed by strong research skills of each sector manager. Sector managers build the model portfolio that can be a key foundation for actual portfolio.
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Sectors
- Distributed by market weight
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Sector Managers
- Develop investment ideas by checking the recent issues and financial result, and process it under research process.
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Bottom-up Approach
- Managers can adjust weighting of small sector in order to follow market changes
- And all Sector managers are evaluated by sectors' index.
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Model Portfolio
- Adjusting weights between each sector.
Developing Model Portfolio
Our Sector managers are responsible for building IU and the sector portfolio
We only invest in stocks that are listed on our IU in order to avoid unintended high risks.
- First Selection
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- Only the stocks that are not under capital encroachment reporting more than 3 years of continuous loss getting disqualified opinion by auditors
- Can be included in IU Research team is responsible for IU creation; Key considerations -Financial risks & liquidity risks
| KOSPI |
KOSDAQ |
| MIDAS Stock Universe |
- Sector Fund
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- We compare our sector manager's portfolio with sector's benchmark portfolio in order to minimize risks.
| KOSPI |
KOSDAQ |
| MIDAS Sector Universe |
MIDAS Sector Fund |
- Model portfolio
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- We build our model portfolio based on each sector managers' portfolio
- And actual portfolios have to meet certain percentage of copy rate.
- All of the stocks that constitute Midas' portfolio have to be included in our universe.
| Model Porfolio |
| MIDAS Porfolio |
