- GIVEN AN IMPROVING RISK/RETURN BACKDROP FOR EMERGING MARKETS (EM), TIM LOVE, BELIEVES NOW IS A GOOD TIME TO REVISIT A GROUPING HE COINED IN NOVEMBER 2020 CALLED “START” (Samsung Electronics (KRX: 005930 / LON: BC94 / OTCMKTS: SSNLF), TENCENT, Alibaba Group (NYSE: BABA), Reliance Industries Limited (NSE: RELIANCE / BOM: 500325) AND Taiwan Semiconductor Manufacturing (TSMC) (NYSE: TSM)) WHICH REPRESENT WELL THE CYCLICAL AND SECULAR OPPORTUNITIES FOR THE EM REGION.
- Tim contrasts this grouping to the US-listed FAANG (Facebook/Meta, Amazon, Apple, Netflix and Google/Alphabet), outlining why he believes START are key enablers of the ongoing digital revolution, represent strong growth opportunities and also reflect key sustainable shifts in the region across both consumer and enterprise.
- NOTE: There is Tencent Holdings (HKG: 0700 / LON: 0LEA / FRA: NNND / OTCMKTS: TCEHY) and their subsidiary Tencent Music Entertainment Group (NYSE: TME).
Source: START not FAANG (GAM)
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