CAIA - Smart Moves Submission

Smart Moves – Dec 2011

Michael McGaughy, CAIA, has had his new book published.  Called Inside China’s Corporations, it maps and explains the corporate structure and control of China and Hong Kong’s conglomerates - both family and government-owned.  It highlights their key people, structure, and business lines at both the parent and listco levels.   The role of China’s communist party in corporate control is explained through both bottom-up and top-down charts and examples. All HK, Shanghai and Shenzhen listed entities over US$2bn in market capitalization are mapped to their parent group. (Sample pages can be seen at (http://www.asianom.com/samples/index.html). It can be purchased direct form the publisher Amazon, or IND-X Securities where it can be paid for through brokerage commissions. 

The book follows several other similar reports he has written on ASEAN, Indonesian and Malaysian conglomerates and prominent business families.

Said Michael, “The CAIA program rounded out my fundamental buy- and sell-side analysis and manager selection background.  Having been based in Asia for most of my career it was particularly useful to understand new products and investment styles that are new to the region and many times not here yet.  The designation and networking opportunities at local chapter events has expanded my network and has altered my way of looking at investments and investing. “

Michael McGaughy, CAIA, consults to asset allocators, funds and research organizations on manager and product selection, marketing and fundamental equity, ETF and index analysis, through his company Kairo, Ltd.  An award winning analyst, Michael has a diverse financial background spanning buy- and sell-side equity research, private-equity fund management, fund- of-hedge funds management, business development and investor relations. He first came to Asia as an exchange student in 1985 and has been involved with the region ever since, having lived and worked in Beijing, Hong Kong, and Singapore, for different companies including HSBC, the old Crosby Group and StoneWater Capital.  He earned a bachelor’s degree in economics from the University of Vermont.  He has been a CAIA member since November 2010 and currently sits on the Hong Kong chapter’s executive committee.