28 March 2024

China Property: Reality vs. Noise

We expect the Chinese property market slowdown to have a limited economic impact. The moderate decline in property prices indicates a smaller-than-perceived property bubble.

13 March 2024

The OxCap MOAT

At Ox Capital, our investment framework is rooted in identifying quality businesses with long-term sustainable growth thematics to drive outperformance. In this piece, we explore our proprietary quantitative model called the Macro Overlay Aggregate Tracker (MOAT.)

26 February 2024

Revisiting the GFC playbook

Why buying China equities now is like buying US equities during the GFC. Chinese equities are trading at mouth-watering attractive levels. In our view, the outlook is highly prospective for long term investors.

14 February 2024

Ox Capital’s 2024 Outlook: Video Update

In our 2024 outlook video, Joseph Lai discusses the historical impact of the Year of the Dragon on Asian equities, recent high-level dialogues between the US and China, the multi-year transition of China’s economy, and more.

14 February 2024

Looking through the headline noise

We are seeing a clear dislocation between reality and stock market sentiment. Contrary to news headlines of a lacklustre macro-economic environment and outlook, quality companies continue to execute and grow earnings, highlighting the importance of looking through the noise.

1 February 2024

2024 Outlook: An Inflection Point for Emerging Markets

Welcome to 2024, the Year of the Dragon in the Chinese Zodiac. In this report, we outline our key expectations and themes across emerging markets in 2024 and how we are positioned.

15 January 2024

Why Bother Investing in China?

Ox Capital follows an investment philosophy of acquiring future champion businesses at discounted valuations. Despite facing economic challenges, the Chinese economy is expected to overcome negative factors, such as reduced reliance on the property sector, geopolitical pressure, and ongoing economic reforms. Right now, we see an opportunity to invest and take advantage of these very attractive valuations.

29 November 2023

Brazil’s Bountiful Harvest: A Wealth of Promising Opportunities in 2024

The recent reduction in Brazil’s notably high 14% interest rate presents compelling investment opportunities, fuelled by the potential for economic growth through the recovery of essential commodities.

22 November 2023

China undertaking “QE”, US rates peaking

The Chinese government’s rapid policy easing, including a reported RMB1 trillion pledged supplemental lending, signifies a renewed commitment to quantitative easing (QE) and bolsters confidence in economic recovery, presenting attractive opportunities for investors with OxCap well-positioned to benefit.

13 November 2023

China Property: Has the “Grey Rhino” been tamed?

China’s government actively deflated the property market bubble aiming to stabilise the economy. Recent data indicates signs of market stabilization.