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Economic Times
6 days ago
- Business
- Economic Times
Nippon India Taiwan Equity Fund tops return chart with 22% in May. Can the momentum sustain?
Short-term rallies tend to be volatile and unsustainable as they are often event-driven. Nippon India Taiwan Equity Fund emerged as the top performer among all equity funds — including sectoral and thematic — in May, delivering a return of 21.69%. This was out of a universe of approximately 558 funds during the period. Experts attribute this performance to a sharp rally in Taiwanese technology and semiconductor stocks, which benefited from strong global demand for electronics. Also Read | NFO Insight: Nippon Income Plus Arbitrage Active FoF opens. Is it time to add this emerging category to your portfolio? 'Over the past few months, international markets have experienced increased volatility, largely driven by country-specific events. In China, the announcement of a major stimulus package in late September 2024 sparked a sharp market rally. Similarly, in the U.S., post-election speculations, tariff wars, trade deals, etc. ,increased market activity,' Chirag Muni, Executive Director, Anand Rathi Wealth Limited, shared with to Chirag Muni, short-term rallies tend to be volatile and unsustainable as they are often event-driven. Over the long term, Indian markets have outperformed international funds, offering higher return potential and a broader range of investment categories."Indian markets offer easier access to data and are simpler to track, making them more suitable for investors. Given the complexity of global markets, well-diversified domestic funds remain the better choice for investors,' he added. Another expert highlights four key factors influencing a fund's performance: returns relative to the underlying index, currency movements, the performance of the Indian rupee against the U.S. dollar, and the fund manager's value addition. There is a high correlation of Taiwan stocks with the US Nasdaq Composite index as TAIEX's 50–60% weightage is in semiconductors and electronics (e.g., TSMC, Hon Hai), aligning closely with the Nasdaq's tech-heavy composition, he added. 'Both indices are highly sensitive to global chip demand and U.S. tech sentiment, amplifying their correlation. For the month of May, Nasdaq gained 9.56%, which led to accelerated gains in Taiwan-based technology companies in the portfolio,' Atul Shinghal, Founder and CEO, Scripbox, shared with ETMutualFunds. As per the last data available, Nippon India Taiwan Equity Fund had an AUM of Rs 276 crore as on April 30, 2025. Launched in December 2021, the scheme is managed by Kinjal primary investment objective of Nippon India Taiwan Equity Fund is to provide long-term capital appreciation to investors by primarily investing in equity and equity-related securities of companies listed on the recognised stock exchanges of Taiwan, and the secondary objective is to generate consistent returns by investing in debt and money market securities of were around 65 international funds in the mentioned time period, of which 11 offered double-digit returns, 52 offered single-digit returns, and only two gave negative returns. Also Read | Should you consider starting SIP or lumpsum in a momentum index fund right now? Invesco India - Invesco Global Consumer Trends FoF offered the second highest return of around 15.70%, followed by DSP US Flexible Equity FoF and Edelweiss US Technology Equity FOF, which gave 13.90% and 12.09% returns respectively in the double-digit performers, the last five were Nasdaq-based funds, which gave returns ranging from 10.25% to 11.47% in looking at the performance of these international funds, Chirag Muni advises that investors should avoid reacting to short-term trends and instead focus on fundamentals and long-term growth, as over the longer horizon, Indian markets have delivered stronger the other hand, Shinghal believes that the technology sector, as represented by the Nasdaq Composite Index, remains the main driver for the performance of Taiwanese Stocks, and the outlook for the technology sector remains positive in the long run as current and future innovations are either driven or enabled by this sector. In the current calendar year so far, international funds have offered up to 29% return with Edelweiss Europe Dynamic Equity Offshore Fund being the top performer with 29.12% return in 2025 so far. Mirae Asset Hang Seng TECH ETF FoF has given a 20.17% return in the current calendar year so far. In 2025 so far, Nippon India Taiwan Equity Fund has offered a negative return of 3.47%. Shinghal of Scripbox believes that global equities outside the U.S. and India are currently trading at more attractive valuations. Historically, non-U.S. markets have outperformed during periods of U.S. dollar weakness. 'Hence, International Funds (especially Non-US) should get allocation in an Investor's portfolio depending on risk appetite,' he the expert from Anand Rathi Wealth Limited firmly recommends not to invest in international funds, but if one looks for global diversification in the portfolio, can explore only upto 5 -10% of the overall portfolio, however it is important to look at the risk adjusted return potential of the respective country before investing. 'Investors can consider investing across the range of domestic diversified equity funds to get exposure across the range of categories and sectors to generate good alpha and returns in the long term,' Chirag should always consider their risk appetite, investment horizon and goals before making any investment decision. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@ alongwith your age, risk profile, and twitter handle
IOL News
08-05-2025
- Business
- IOL News
Someone won the R28million Powerball Plus jackpot. Was it you?
IOL Someone has won over R28million in the Powerball Plus jackpot. One person has won over R28 million in the Powerball Plus jackpot draw from the May 6, 2025, draw. According to National Lottery Ithuba, the person won R28,558,423.50. The winning ticket was purchased via a banking app, with a wager of R67.50. The person opted to select their winning numbers manually. Ithuba CEO Charmaine Mabuza said: It's truly fulfilling to witness the PowerBall Plus doing exactly what it was designed to do -offering players a second chance to win big. "This win highlights the convenience and security of playing the National Lottery through banking apps. We are thrilled for the winner and remain committed to delivering a world-class lottery experience through continuous innovation and accessibility.' Winners have 365 days from the date of the draw to claim their prize. Ithuba urged all players to check their tickets via the National Lottery website, mobile app, social media channels, or at retail outlets, as there are winners in other divisions too. "One participant matched five numbers in Division 2, winning over R180,000, while 18 others matched four numbers plus the PowerBall in Division 3, each taking home over R6,000." Ithuba reminded its players that all winnings are tax-free and are paid out within 72 hours of a valid claim. IOL News
IOL News
08-05-2025
- Business
- IOL News
PowerBall PLUS: A lucky player wins R28 million in latest draw
A LUCKY participant has won the PowerBall PLUS jackpot of R28,558,423.50, through their banking app. The ticket was part of the PowerBall PLUS jackpot in Draw 1612, held on Tuesday (May 6). The winning ticket was purchased via a banking app, with a wager of R67.50 and a manual selection. Charmaine Mabuza, CEO of ITHUBA, said she is excited as this was the reason PowerBall Plus was created. 'It's truly fulfilling to witness the PowerBall PLUS doing exactly what it was designed to do —offering players a second chance to win big. This win highlights the convenience and security of playing the National Lottery through banking apps. We are thrilled for the winner and remain committed to delivering a world-class lottery experience through continuous innovation and accessibility,' said Mabuza. One participant matched five numbers in Division 2, winning over R180,000, while 18 others matched four numbers plus the PowerBall in Division 3, each taking home over R6,000. The POST
Yahoo
10-04-2025
- Politics
- Yahoo
NC bans on DEI in state agencies and higher ed move through legislature
North Carolina House Speaker Destin Hall (R-Caldwell), left, and Senate President Pro Tem Phil Berger (R-Rockingham) speak ahead of Gov. Josh Stein's State of the State address on March 12, 2025. (Photo: Galen Bacharier/NC Newsline) Lawmakers in the North Carolina legislature advanced a pair of bills Wednesday that aim to wipe diversity, equity and inclusion efforts from government and college campuses. House Bill 171 bans local and state governments from maintaining DEI offices and programs, considering the measures while awarding contracts, and conducting DEI trainings. And Senate Bill 558 defines a range of 'discriminatory practices' and 'divisive concepts' on college campuses, expanding on a DEI ban already put in place by the UNC System's Board of Governors. Both bills passed out of their respective chambers Wednesday on party-line votes. They'll head across the building for further consideration. The pair of bills come amid a push from both the Trump administration and Republican state legislatures to eliminate diversity and equity practices from all corners of the public sector. A third North Carolina proposal moving through the legislature also bans DEI in K-12 schools. House Speaker Destin Hall (R-Caldwell) has said the trio of proposals could eventually be bundled into one larger bill down the line, if GOP leadership opts to do so. A state worker who violates the proposal to ban DEI in state agencies could face a civil lawsuit, penalties of up to thousands of dollars and termination. Local government employees, too, would be subject to legal action, penalties and firing. The bill was changed during committee negotiations, removing language that would have also applied the ban on DEI to 'non-state entities' that receive public funds. Its Republican sponsors also removed criminal penalties from the bill, and excluded charter and private schools from being impacted. Democratic opponents have argued that there is almost nothing in current state government that would qualify as 'DEI,' but that the bill could nonetheless hurt recruiting and retaining workers in a state that has struggled to fill vacancies. It would take effect on Dec. 1. Last year, the UNC System Board of Governors voted to repeal its DEI policy, replacing it with a statement of 'principled neutrality.' Under the bill approved by the Senate on Wednesday, the board — as well as the governing body for state community colleges — would have to approve another new policy to comply. The bill is almost identical to a similar bill applying to K-12 schools. It outlines a list of 'divisive concepts' and 'discriminatory practices' that campuses are banned from endorsing or affirming. That includes treating a person differently 'solely to advantage or disadvantage that individual.'
Yahoo
28-03-2025
- Business
- Yahoo
Steelcase Inc (SCS) Q4 2025 Earnings Call Highlights: Strong Order Growth Amid International ...
Revenue: $788 million for Q4, within the upper end of the estimated range. Adjusted Earnings Per Share (EPS): $0.26 for Q4, above the estimated range. Adjusted Operating Margin: 5% for the full fiscal year, including 7% in the Americas. Gross Margin Improvement: Over 500 basis points expansion since fiscal 2022. Order Growth: 9% in Q4, led by 12% growth in the Americas. Free Cash Flow: $100 million for the fiscal year. Shareholder Returns: $84 million returned to shareholders. Organic Revenue Decline: 5% for Q4, including a 3% decline in the Americas and 10% decline internationally. Adjusted Operating Income: Declined by $20 million year-over-year. Liquidity: Total liquidity of $558 million, exceeding total debt of $447 million. Fiscal 2026 Revenue Target: Mid single-digit organic revenue growth. Fiscal 2026 Capital Expenditures: Targeting $70 to $80 million. Warning! GuruFocus has detected 6 Warning Signs with SCS. Release Date: March 27, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Steelcase Inc (NYSE:SCS) reported a full-year adjusted earnings per share of $1.12, exceeding the top end of their initial targets. The company achieved an adjusted operating margin of 5%, with a notable 7% in the Americas. Steelcase Inc (NYSE:SCS) experienced its 11th consecutive quarter of year-over-year gross margin expansion, improving over 500 basis points since fiscal 2022. Order growth in the fourth quarter was 9%, led by a 12% increase in the Americas, marking the sixth consecutive quarter of year-over-year order growth in this region. The company reported strong demand from large corporate and government customers, with positive signals in corporate real estate and increased US office leasing activity. Despite strong order growth, adjusted earnings fell below the estimated range due to shortfalls in both the Americas and International segments. The international segment experienced a 10% revenue decline, driven by weaknesses in Germany, France, and India. Higher manufacturing costs and operating expenses, including a bad debt provision and severance costs, impacted the international segment's performance. Steelcase Inc (NYSE:SCS) is facing new tariffs and global trade uncertainty, which may require pricing actions and supply chain adjustments. The company anticipates losses in the international segment in the first half of fiscal 2026, with profitability expected only in the second half. Q: Could you discuss the order pacing through the fourth quarter and what you're seeing in the early part of the May quarter? A: Orders followed normal seasonal patterns, building as expected from January through last week. December was strong with double-digit growth, January might have been softer, but overall, the order patterns are following a normal seasonal flow. This week is expected to be strong due to the tariff recovery charge going into effect. Q: What actions are being taken to achieve breakeven internationally, and what are the expectations for profitability in the second half? A: We expect growth in the International business next year, driven by parts of the business that have been performing well. We are also reviewing our cost structure to address performance issues from the back half of fiscal 2025. Q: Could you provide more guidance on the economic assumptions for fiscal 2026, given the current uncertainty? A: We have moderated our expectations due to current uncertainties, such as negative sentiment in Canada and potential impacts from US government actions. However, our backlog and pre-sales activities are strong, and we are targeting growth consistent with our midterm expectations of 4% to 6%. Q: Did you repurchase any shares in the quarter, and what is the sentiment for future buybacks? A: We targeted buybacks to offset dilution in fiscal 2025, purchasing between 2 million and 3 million shares throughout the year. We plan to continue this approach in fiscal 2026. Q: How is the demand on the West Coast, and how does it impact your outlook? A: We have seen improvement in the West Coast, particularly in the tech sector. Our largest dealers in Northern California and Seattle are experiencing increased activity and expect growth next fiscal year, which we plan to participate in. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
