[ET Net News Agency, 13 March 2020] Daiwa Research lowered its target price for Value
Partners (VP)(00806) to HK$4.6 from HK$5 and maintained its "outperform" rating.
The research house expects VP to benefit from regulatory tailwinds in China, which
encourage an institutional culture and a value-investing style to remake its capital
market into a more efficient and rational capital allocation mechanism.
VP's High-Dividend Stocks Fund received the Mutual Recognition Fund (MRF) approval
in November 2019, which was its second eligible MRF fund in partnership with Tianhong
Asset Management. It also obtained 4 more onshore funds under the Private Fund Management
(PFM) scheme, bringing its total PFM funds to 8.
Daiwa cut its 2020-21 EPS forecasts by 20-29% given the recent big stock market
movements, which impact its mark-to-market investment income, performance fees and
management fees. (KL)
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00806 VALUE PARTNERS
Nominal 
1.810 +0.110 (+6.471%) Others
13/03/2020 10:53
{I-bank focus}Daiwa cuts Value Partners (00806) to HK$4.6
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