According to foreign reports, fund manager Elizabeth Soon is looking for his third "Moussaton" moment. If her latest investment entity is as successful as the first two, then investors should start thinking about building a stock of driverless auto parts suppliers.
About 10 years ago, Elizabeth Sun accurately discovered the development trend of smart phones and believed that the industry would flourish. But now that the fund manager's interest is no longer the same, she said that the revolution that the auto industry is about to set off may be a major opportunity for investors. “We think that driverless cars will appear,†said Elizabeth Sun. Today, the fund manager is particularly interested in the accessories sector. As cars become more automated, accessories will play an increasingly important role. “With the further development of driverless car technology, growth in this area will become quite strong.
However, Elizabeth Sun also stressed that investors may need to be patient with the driverless car industry, which may take 15 years to develop. Elizabeth Sun and her team have become accustomed to long-term investments and sometimes track the company for many years. They will study corporate balance sheets, find consistent equity returns and robust capital expenditures, with a particular focus on corporate R&D spending.
self-driving car
The Boston ConsulTIng Group estimates that the size of the driverless car industry will reach $42 billion by 2025 and will account for a quarter of global car sales by 2035. Companies such as Tesla and Ford have promised to get drones on the road within five years, but Elizabeth Sun believes that there is no market for everyone to suddenly have a driverless car.
“Not everyone has a car or a car,†she said in an interview. “Consumers may have three to five smartphones, but whether or not they own a car depends on individual needs.
Elizabeth Sun invested in the smart phone field because of two. First, she thought that smartphones, which were still very expensive at the time, had cheap products over time and eventually made it available to everyone. Second, she found that her daughter was playing with her smartphone while eating. “My daughter is still playing Facebook while eating. I saw tourists taking pictures with their tablets while eating at the restaurant, which made me very shocked. If we use more smartphones and tablets than digital What happens when the camera takes a photo?"
In this case, Elizabeth Sun and her team turned their attention to companies that harness this trend through specific accessories or products. Since 2007, the share price of Shenzhen AAC Technology has increased by about 9 times. According to data collected by Bloomberg, the fund of Elizabeth Sun has been built since then. The fund also started to build shares in Taiwan lens supplier Largan Precision from June 2016. Since then, the latter's share price has risen more than 60%. In the interview, Elizabeth Sun declined to comment on the portfolio.
The fund, PineBridge Asia ex Japan Small Cap Equity Fund, currently manages approximately $152 million in assets, which has risen about 13% this year and more than 97% of its peers. In the past five years, the fund has performed better than 90% of its peers.
The fund recently invested in GAC Group, which is seeking to enter the US market. Guangzhou Automobile Group said in January this year that the company plans to open a research and development center in Silicon Valley in the first half of this year to accelerate the research and development of connected vehicles and find suitable acquisition targets to help the company develop advanced technologies.
Elizabeth Sun and her team usually hold investment portfolios for three to five years, with an annual return on investment of between 35% and 50%.
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