MIDAS ASSET philosophy
Equity Investment ProcessMIDAS ASSET
Equity Investment Process
Equity Investment Style
![[Bottom-Up] : Bottom-up approach based on strong fundamental analysis, 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. | => 안정적 초과수익 추구 (리스크 관리를 통한 적정수익률 창출)](https://midasasset.com/wp-content/themes/midasasset_new_eng/images/img_process1.png)
[Bottom-Up] : Bottom-up approach based on strong fundamental analysis, 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.
=> 안정적 초과수익 추구 (리스크 관리를 통한 적정수익률 창출)
[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.
=> 안정적 초과수익 추구 (리스크 관리를 통한 적정수익률 창출)
- 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 Managers] : configure the Investment Universe(IU), build out Model | [MODEL PORTFOLIO] : adjusts the weights of sectors | [Equity Management Part] : manages the actual portfolio(AP) based in MP => Manages a fund by its style](https://midasasset.com/wp-content/themes/midasasset_new_eng/images/img_process2.png)
[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 Managers] : configure the Investment Universe(IU), build out Model Portfolio(MP) => SECTOR 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
[Risk&Compliance Management Committee] : checks Compliance rules, Risk management
[In-house Sector Managers] : configure the Investment Universe(IU), build out Model Portfolio(MP) => SECTOR 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
Screen
the Universe-
- Screen the investment universe(IU) with qualitative and quantitative analyzing.
Fundamental
Stock Research
& Valuation-
- Sector managers' in-depth research to draw fair value.
Determine Stock
Position-
- Our sector managers are responsible for composition of each sector portfolio
Determine
Model Portfolio (MP)-
- we try to minimize risks by
1. periodic reviewing / stress testing of our portfolio.
2. applying sell discipline for every sector
- we try to minimize risks by
Actual Portfolio (AP)
-
- 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.
of each sector manager. Sector managers build the model portfolio that can be a key foundation for actual portfolio.
Sectors
-
- Distributed by market weight
Sector Managers
-
- Develop investment ideas by checking the recent issues and financial result, and process it under research process.
Bottom-up approach
Bottom-Up Play-
- Managers can adjust weighting of small sector in order to follow market changes
- And all Sector managers are evaluated by sectors' index.
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.
in order to avoid unintended high risks.
-
First Selection
- 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
-
Developing Model Portfolio First Selection KOSPI KOSDAQ MIDAS Stock Universe
-
Sector Fund
- We compare our sector manager's portfolio with sector's benchmark portfolio in order to minimize risks.
-
Developing Model Portfolio Sector Fund Sector Fund MIDAS Sector
UniverseMIDAS Sector
Fund
-
Model portfolio
- 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.
-
Developing Model Portfolio Model Portfolio MIDAS Portfolio
Checking
The information on returns on this website is only for reference. The information may not be most up-to-date. Midas Asset Management is not legally responsible for the investment decisions based on the information provided on this website.Beneficiaries should undertake all the profit/loss of the funds caused by the result of investment. Therefore those considering investing in the funds should carefully read the prospectus before making investment decisions. Past performance is not indicative of future performance. Fluctuation in exchange rates may have a positive or negative effect on the value of foreign-currency denominated securities and financial instruments. It may result in financial loss of its beneficiaries.
This website is made in the Korean language, and if there shall arise any conflict between the Korean version and any translation thereof, including this English translation, the Korean version shall prevail.