Tellimer provides an integrated suite of services focused on the world's developing markets. It offers world class investment research and local insights; end-to-end content distribution and analytics; market execution and corporate access; brokerage services across Fixed Income and Equities; and expert advisory services.
Tellimer is headquartered in London, UK, with additional offices in Dubai, Lagos, Nairobi, New York and Singapore. It is a division of Exotix Partners LLP.
For the past two decades, I have been on a mission to convince investors that they should invest in responsible EMs and not assume that the fact that a country is developed means that it is low risk. Suffice to say, it has been an uphill battle. I’ve helped oil companies understand that regulatory instability in the UK costs them more than political risk in West Africa—but oil companies kept losing their shirts investing in marginal projects in the UK. I’ve built quantitative measures of poli...
We reduced our 12M TP on HeadHunter by 4% to $20.7/ADS and downgraded the stock rating to Equal Weight (E/W) following our model revision to include the effect of the pandemic on the e-recruitment market and the company. After the labour market experienced a lockdown-related shock in April, the trends turned positive in May and June, giving investors the confidence to re-rate HHR to pre-crisis levels. As the recovery potential seems to be priced in and the fears of a second wave of Covid-19 p...
Rahat Kaunain has been appointed the Chairperson of the Competition Commission of Pakistan (CCP). She has served in this position before in 2010-2013. The appointment can be important for some sectors, as the CCP was relatively active during her previous term. Some of the penalties/charges levied by the CCP in 2010-13 include: * Alleged cartelisation in the Cement industry * Excessive increase in prices by the Fertilizer industry * Alleged cartelisation and exclusionary conduct by ...
Recent central bank rate cuts in Egypt and Sri Lanka follow similar moves in the US, India, Philippines, Mexico, Thailand and Peru. In this report we analyse the likely impact on bank margins in the 21 markets we cover and overlay this with our bottom-up views to find where the opportunities and risks lie. We remain positive on Nigeria and Ghana banks, and cautious on GCC names. For Egypt banks, falling margins could temper their positive volume growth story.
The prospects for mobile money in Ghana are exciting. A recent World Bank report highlighted Ghana as the fastest growing mobile money market in Africa, with an 85% compound annual increase in the value of Ghana’s mobile money transactions in 2015-18. In this report, we explore the structure of Ghana’s mobile money space and identify the companies that are adapting and thriving.
Most Vietnam banks report results under local accounting standards (VAS), which may present net profit and shareholders’ equity at a materially higher level than under IFRS accounting standards. For VP Bank, which reports under both, the difference in both these metrics has averaged 10% over the past five years. Investors may wish to consider adjusting PE and PB multiples when comparing Vietnam banks to international peers.
Unfortunately, this report is not available for the investor type or country you selected.Browse all ResearchPool reports
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.