Emerging Market Links + The Week Ahead (January 9, 2023)

For the first week of the year, many key money managers remain bullish on China while the Indian market has witnessed some outflows due to valuation concerns and opportunities in other EMs.

Otherwise, the other interesting investing related piece I came across noted how the VanEck Emerging Markets Equity Investment Team hadrecently visited Saudi Arabia where economic and social reforms could present an interesting investment opportunity. However and while the Saudis and GCC countries are looking at doing petro-yuan deals with China, don’t expect the former to de-peg the riyal from the dollar any time soon.

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Earnings Calendar

Note: Investing.com has a full calendar for most global stock exchanges BUT you may need an Investing.com account, then hit “Filter,” and select the countries you wish to see company earnings from. Otherwise, purple (below) are upcoming earnings for US listed international stocks (Finviz.com):

Economic Calendar

Click here for the full weekly calendar from Investing.com containing frontier and emerging market economic events or releases (my filter excludes USA, Canada, EU, Australia & NZ).

Election Calendar

Frontier and emerging market highlights (from IFES’s Election Guide calendar):

~~BeninBeninese National Assembly~~ ~~Jan 8 2023 (d) Confirmed Apr 28, 2019~~
Czechia President Jan 13, 2023 (d) Confirmed Jan 26, 2018
Kazakhstan Kazakh Senate Jan 14, 2023 (t) Confirmed Oct 1, 2014
Slovakia Referendum Jan 21, 2023 (t) Confirmed Feb 7, 2015
Cyprus President Feb 5, 2023 (d) Confirmed Feb 4, 2018
Ecuador Referendum Feb 5, 2023 (t) Confirmed Feb 4, 2018
Nigeria Nigerian House of Representatives Feb 25, 2023 (d) Confirmed Feb 23, 2019
Nigeria Nigerian Senate Feb 25, 2023 (d) Confirmed Feb 23, 2019
Nigeria President Feb 25, 2023 (d) Confirmed Feb 23, 2019
Djibouti Djiboutian National Assembly Feb 28, 2023 (t) Date not confirmed Feb 23, 2018
Estonia Estonian Parliament Mar 5, 2023 (d) Confirmed Mar 3, 2019
Turkmenistan Turkmen National Assembly Mar 31, 2023 (t) Date not confirmed Mar 25, 2018

IPO Calendar/Pipeline

Frontier and emerging market highlights from IPOScoop.com and Investing.com (NOTE: For the latter, you need to go to Filter and “Select All” countries to see IPOs on non-USA exchanges):

Atlas Lithium Corp.ATLX, 0.7M Shares, $8.00-10.00, $5.9 mil, 1/10/2023 Tuesday

(Note: This is NOT an IPO. This is a NASDAQ uplisting from the OTC Market. On Nov. 15, 2022, the last reported sale price for our common stock was $13.125 per share, reflecting an expected common stock reverse split at a ratio of 1-for-750 to be effected prior to the closing of the Underwritten Offering.) Atlas Lithium Corp., formerly known as Brazil Minerals, is a U.S. mineral exploration and mining company with lithium projects and properties in other critical battery metals to power the Green Energy Revolution – nickel, rare earths, graphite and titanium. (Incorporated in Nevada)Our current focus is on developing our hard-rock lithium project located in Minas Gerais state in Brazil at a well-known premier pegmatitic district in Brazil. We intend to produce and sell lithium concentrate, a key ingredient for battery supply chain. Lithium is essential for batteries in electric vehicles and demand is expected to outstrip supply.As reported in our Form 10-Q for the period ended September 30, 2022, we have been approached, in an unsolicited manner, by two large companies seeking to secure lithium supply. Recently, one of such companies has provided us with a preliminary, written non-binding proposal for the right to acquire, at a reasonable discount to the then prevailing market prices, part of our planned production in exchange for providing capital towards the construction of our lithium concentration plant. There can be no assurance, however, that these discussions or proposals will result in any binding agreements.All of our mineral projects and properties are located in Brazil and, as of the date of this prospectus, our mineral rights portfolio for battery metals includes approximately 72,344 acres (293 km2) for lithium in 59 mineral rights, 54,950 acres for nickel (222 km2) in 15 mineral rights, 30,054 acres (122 km2) for rare earths in seven mineral rights, 22,050 acres (89 km2) for titanium in seven mineral rights, and 13,766 acres (56 km2) for graphite in three mineral rights. We believe that we hold the largest portfolio of lithium mineral exploration properties in Brazil, a premier and well-established jurisdiction for hard-rock lithium. We also believe that we are among the largest holders by size and breadth in exploration projects for other critical and battery metals among publicly traded companies.We are primarily focused on advancing and developing our hard-rock lithium project located in the state of Minas Gerais, Brazil, where some of our high-potential mineral rights are adjacent to or near large lithium deposits that belong to a competitor, a Nasdaq listed company. Our Minas Gerais Lithium Project is our largest endeavor and consists of 52 mineral rights spread over 56,078 acres (227 km2) and predominantly located within the Brazilian Eastern Pegmatitic Province which has been surveyed by the Brazilian Geological Survey and is known for the presence of hard rock formations known as pegmatites which contain lithium-bearing minerals such as spodumene and petalite. Generally, lithium derived from pegmatites is less costly to purify for uses in high technology applications than lithium obtained from brine. Such applications include the battery supply chain for electric vehicles (“EVs”), an area of expected high growth for the next several decades.We believe that we can materially increase our value by the acceleration of our exploratory work and quantification of our lithium mineralization. Our initial commercial goal is to be able to enter production of lithium-bearing concentrate, a product which is highly sought after in the battery supply chain for EVs.

MGO Global Inc.MGOL, 1.5M Shares, $5.00-5.00, $7.5 mil, 1/13/2023 Friday

We are a global lifestyle and fashion brand with a license agreement with soccer legend Lionel Messi, also known as Leo Messi. (Incorporated in Delaware)The Messi Brand design team is led by MGO co-founder and Chief Design Officer Virginia “Ginny” Hilfiger, who works in close collaboration with Leo Messi to craft the fundamental design aesthetic that has continued to inform and inspire the development of each year’s casual, but elegant spring and fall collections. Two of the brand’s signature design elements, the color palette and the incorporation of “10” and “30,” are nods to Messi’s soccer teams – the color palette is largely composed of his teams’ colors, light blue, navy blue, white and red, the “10” is his jersey number both in Barcelona and the Argentinian national team, and the “30” is his jersey number for Paris Saint Germain.We signed a global licensing agreement in October 2018, which was later replaced by the Messi License, with legendary pro soccer player Lionel Messi, also known as Leo Messi, or Messi, to spearhead the creation of “The Messi Brand” – a premium line of functional and sporty casual wear, accessories and home décor that is inspired by the superstar’s persona and trend-setting fashion sense – both on and off the pitch. This license agreement was later terminated and replaced by another licensing agreement with similar terms which are described under “Business—The Messi License Agreement.” The resulting in-demand collections contain designs focused on being effortless and accessible to all, much like that of Messi’s personal style. (Example: The M10 Rugby Long Sleeve Shirt sells for $85.00, according to The Messi Store online.)While The Messi Brand represents the first and only asset in our portfolio, our business model is underpinned by our intent to strategically expand our collection of lifestyle brands through industry collaborations, licensing, acquisitions and organic brand development. However we are not currently in active discussions with any third parties relating to potential collaborations, licensing or acquisitions to expand our brand portfolio. While it is our intention to pursue growth and expansion of our brand portfolio in the future, we currently are not negotiating or have any probable agreements to add additional assets to the Messi Brand in our portfolio at this time.Members of our leadership team have led prolific brand development initiatives for fashion industry titans that have included Tommy Hilfiger, Fila, Burberry, J Brand, GUESS, Brooks Brothers and True Religion, among many others, collectively generating billions of dollars in retail sales across the globe over the past 30 years.

ETF Launches

Climate change and ESG are clearly the latest flavours of the month for most new ETFs. Nevertheless, here are some new frontier and emerging market focused ETFs:

9/22/2022 – WisdomTree Emerging Markets ex-China Fund XC – Passive, equity, emerging markets
9/15/2022 – KraneShares S&P Pan Asia Dividend Aristocrats Index ETF KDIV – Passive, equity, Asia, dividend strategy
9/15/2022 – OneAscent Emerging Markets ETF OAEM – Active, Equity, emerging markets, ESG
9/9/2022 – Emerge EMPWR Sustainable Select Growth Equity ETF EMGC – Active, equity, emerging markets
9/9/2022 – Emerge EMPWR Unified Sustainable Equity ETF EMPW – Active, equity, emerging markets
9/8/2022 – Emerge EMPWR Sustainable Emerging Markets Equity ETF EMCH – Active, equity, emerging markets, ESG
7/14/2022 – Matthews China Active ETF MCH – Active, equity, China
7/14/2022 – Matthews Emerging Markets Equity Active ETF MEM – Active, equity, emerging markets
7/14/2022 – Matthews Asia Innovators Active ETF MINV – Active, equity, Asia
6/30/2022 – BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF XEMD – Passive, fixed income, emerging markets
5/2/2022 – AXS Short CSI China Internet ETF SWEB – Active, inverse, thematic
4/27/2022 – Dimensional Emerging Markets High Profitability ETF DEHP – Active, equity, emerging markets
4/27/2022 – Dimensional Emerging Markets Core Equity 2 ETF DFEM – Active, equity, emerging markets
4/27/2022 – Dimensional Emerging Markets Value ETF DFEV – Active, equity, emerging markets
4/27/2022 – iShares Emergent Food and AgTech Multisector ETF IVEG – Passive, equity, thematic [Mostly developed markets]
4/21/2022 – FlexShares ESG & Climate Emerging Markets Core Index Fund FEEM – Passive, equity, ESG
4/6/2022 – India Internet & Ecommerce ETF INQQ – Passive, equity, thematic
2/17/2022 – VanEck Digital India ETF DGIN – Passive, India market, thematic
2/17/2022 – Goldman Sachs Access Emerging Markets USD Bond ETF GEMD – Passive, fixed income, emerging markets
1/27/2022 – iShares MSCI China Multisector Tech ETF TCHI – Passive, China, technology
1/11/2022 – Simplify Emerging Markets PLUS Downside Convexity ETF EMGD – Active, equity, options strategy
1/11/2022 – SPDR Bloomberg SASB Emerging Markets ESG Select ETF REMG – Passive, equity, ESG

ETF Closures/Liquidations

Frontier and emerging market highlights:

12/28/2022 – Franklin FTSE Russia ETF – FLRU
12/22/2022 – VictoryShares Emerging Market High Div Volatility Wtd ETF CEY
8/22/2022 – iShares MSCI Argentina and Global Exposure ETF AGT
8/22/2022 – iShares MSCI Colombia ETFI COL
6/10/2022 – Infusive Compounding Global Equities ETF JOYY
5/3/2022 – ProShares Short Term USD Emerging Markets Bond ETF EMSH
4/7/2022 – DeltaShares S&P EM 100 & Managed Risk ETF DMRE
3/11/2022 – Direxion Daily Russia Bull 2X Shares RUSL
1/27/2022 – Legg Mason Global Infrastructure ETF INFR
1/14/2022 – Direxion Daily Latin America Bull 2X Shares LBJ

Check out our emerging market ETF lists, ADR lists (updated) and closed-end fund (updated) lists (also see our site map + list update status as some ETF lists are still being updated as of Summer 2022).

I have changed the front page of www.emergingmarketskeptic.com to mainly consist of links to other emerging market newspapers, investment firms, newsletters, blogs, podcasts and other helpful emerging market investing resources. The top menu includes links to other resources as well as a link to a general EM investing tips / advice feed e.g. links to specific and useful articles for EM investors.

Disclaimer. The information and views contained on this website and newsletter is provided for informational purposes only and does not constitute investment advice and/or a recommendation. Your use of any content is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the content. Seek a duly licensed professional for any investment advice. I may have positions in the investments covered. This is not a recommendation to buy or sell any investment mentioned.

Emerging Market Links + The Week Ahead (January 9, 2023) was also published on our Substack.

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