Information includes fund holdings, fund sentiment, financial data, and regulatory filings (including SEC, LSE, ASX, and SGX). If the Keswick control of the consolidated equity passed 30% then their benefit from the current dual holding company structure would diminish. It worked out pretty well ;). Change ), You are commenting using your Twitter account. These ins The Company and its subsidiaries provide services in the fields of … Fintel currently tracks over 9500 funds and over 63,000 securities traded worldwide. filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). Green rows indicate new positions. The period of the proxy battle coincided with the beginning of Jardine’s extremely profitable long-term investments into Southeast Asia as it acquired control of Singapore-based Cycle & Carriage which acquired control during the same period of Astra International, an Indonesian conglomerate. Here are excerpts from notes about the Jardine Group that I shared privately last fall. Elimination of the dual holding company structure will improve governance and simplify valuation analysis (company announcement). The deal is expected to be completed by the end of April. I am not sharing a valuation analysis so the text will only be of interest to people who want to know more about the company background. - JARDINE Cycle & Carriage (Jardine C&C) has appointed Benjamin Birks its new group managing director to take over Alex Newbigging, who is stepping down after more than seven years at the helm. Jardine Matheson Holdings Limited is a holding company with diversified businesses focused principally on Asia. 13F Universe (Hedge Fund Holdings Tracker), 4711153AT / Jardine Matheson Holdings Ltd. COM, JPIN - JPMorgan Diversified Return International Equity ETF, GSIE - Goldman Sachs ActiveBeta(R) International Equity ETF, EFAV - iShares Edge MSCI Min Vol EAFE ETF, AMERICAN FUNDS INSURANCE SERIES - International Fund Class 1, DIISX - BNY Mellon International Stock Index Fund Investor Shares, PIEQX - T. Rowe Price International Equity Index Fund, PXH - Invesco FTSE RAFI Emerging Markets ETF, BLACKROCK INDEX FUNDS, INC. - iShares MSCI EAFE International Index Fund Investor A, DEUTSCHE DWS VARIABLE SERIES II - DWS Global Income Builder VIP Class A, DPEGX - Macquarie Emerging Markets Portfolio II DPT CLASS, TFIIX - TIAA-CREF Quant International Equity Fund Institutional Class, MKRSX - MM MSCI EAFE International Index Fund Service Class, PQDMX - PGIM QMA International Developed Markets Index Fund Class R6, EEMA - iShares MSCI Emerging Markets Asia ETF, PMSAX - Global Multi-Strategy Fund Class A, BLACKROCK GLOBAL ALLOCATION FUND, INC. - BLACKROCK GLOBAL ALLOCATION FUND, INC. Investor A, BlackRock Funds II - BLACKROCK MULTI-ASSET INCOME PORTFOLIO INVESTOR C SHARES, VEIEX - Vanguard Emerging Markets Stock Index Fund Investor Shares, VCIEX - International Equities Index Fund, BLACKROCK FUNDS - iShares Edge MSCI Min Vol EAFE Index Fund Institutional, DBEF - Xtrackers MSCI EAFE Hedged Equity ETF, ADVANCED SERIES TRUST - AST J.P. Morgan Global Thematic Portfolio, GBLAX - AMERICAN FUNDS GLOBAL BALANCED FUND Class A, THRIVENT SERIES FUND INC - Thrivent Global Stock Portfolio Class A, IIFAX - Voya Balanced Income Portfolio Class ADV, NOEMX - Northern Emerging Markets Equity Index Fund, BGCWX - Baillie Gifford EAFE Choice Fund Class 2, EMRGX - EMERGING MARKETS GROWTH FUND INC Class M, EAISX - Parametric International Equity Fund Investor Class, LINCOLN VARIABLE INSURANCE PRODUCTS TRUST - LVIP BlackRock Global Allocation Fund Standard Class, BGICF2 - Baillie Gifford International All Cap Fund Class 2, VT - Vanguard Total World Stock Index Fund ETF Shares, ASGAX - AllianzGI Global Dynamic Allocation Fund Class A, DFA INVESTMENT DIMENSIONS GROUP INC - T.A. Formed after the breakup of the East India Company's tea monopoly in 1832, JSH was instrumental in the formation of Hong Kong. Jardine Matheson Holdings Ltd. (US:JARLF) has 416 institutional owners and shareholders that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). Jardine presents significant challenges for accountants and analysts. ( Log Out /  Jardine Matheson Holdings Ltd (BM:JARJ) institutional ownership structure shows current positions in the company by institutions and funds, as well as latest changes in position size. ( Log Out /  The acquisition is valued at approximately US$5.5 billion. But Jardines is most like the Asian family conglomerates against which it competes, with weblike ownership structures, and a willingness to pursue opportunities across industries. These collaborations often result in mixed ownership which may have economic rationale, but create additional complexity for external analysis. Jardine Matheson to restructure via US$5.5b cash acquisition It will acquire 15% issued share capital of Jardine Strategic Holdings. One of Hong Kong’s oldest business empires, Jardine Matheson, has announced plans for a sweeping restructuring that is expected to sharply increase its market . Fintel® provides advanced research tools for data-driven investors Improved investor perception of its business would provide the best near-term opportunity to narrow the gap between market values and fair values. The company placed orders for open market purchase of 10% of the shares of HongKong Land (bringing its ownership over 40%) while HongKong Land simultaneously placed orders to buy 10% of Jardines (bringing its ownership over 30%). World ex U.S. Figure 3 ownership structure of jardine matheson. Jardine Matheson is the group holding company, owning 81.7 per cent of Jardine Strategic, which in turn holds a 54.5 per cent equity interest in Jardine Matheson, hence the … Detail on NP filings require a premium membership. use Put and Call options, so the Put/Call ratio reveals what the smart money thinks. Major shareholders can include individual investors, mutual funds, hedge funds, or institutions. JARLF, 2019-07-10 Each firm then owned enough to prevent any outside party from gaining a controlling interest. Wary that Chinese control of Hong Kong from 1997 could facilitate a hostile takeover, Jardine moved the domiciles for its major businesses to Bermuda in the 1980s and the primary listing of its group companies to London in 1994 with secondary listings in Bermuda and Singapore (where the majority of trading occurs). Jardine Matheson Holdings Ltd (BM:JARJ) has 423 institutional owners and shareholders that have Automotive (24% of 2019 profits) Jardine owns vehicle sales/service businesses in many countries with Indonesia (via Astra) being the most important market. The move will result in a "conventional ownership structure and a further increase in the group's operational efficiency and financial flexibility". Click the link icon to see the full transaction history. index funds and other passive investors. Subsequent open market purchases (which have continued through this year) have raised Jardine Matheson’s stake in Jardine Strategic to 85% while Jardine Strategic now owns 58% of Jardine Matheson. Jardine Matheson Holdings has announced its plans to simplify the parent company structure of the group by acquiring by cash 15% issued share capital of Jardine Strategic Holdings that it does not already own. At the time of publication the author was a unitholder of Jardine Strategic. Enter your email address to follow this blog and receive notifications of new posts by email. Pages 7 Ratings 100% (1) 1 out of 1 people found this document helpful; This preview shows page 5 - 7 out of 7 pages. - (Aug 29): Southeast Asian stock markets closed higher on Thursday, with Thailand leading the gains, as China's comment it is discussing the next round of trade talks with Washington lifted investor mood. Schedule 13G indicates a passive investment of over 5%. - SINGAPORE stocks closed higher on Tuesday, bouncing back from the previous day's decline amid official data showing inflation rates eased in June. A few important themes: The corporate pyramid includes layers of publicly held subsidiaries. JARLF, 2019-08-29 Get a better sense of institutional sentiment with Put/Call ratios. (5) Including the shares held by Rothschild & Co Supervisory Board members (except (i) the shares held by Mr. David de Rothschild, Mr. Eric de Rothschild and Mrs Lucie Maurel Aubert, which are aggregated in the Enlarged Family Concert and (ii) the shares held by Mr. Adam Keswick, which are aggregated in the Jardine Matheson group’s shareholding) and the members of the Group Executive Committee of … It’s possible that change could result from disputes within the Keswick family, between the beneficiaries of the family trusts, or within the board of Directors that break the current structure of control. Jardine is a 188 year old conglomerate ranked #280 on the Fortune Global 500 with: The company no longer receives much attention from investors and analysts due to its complex dual holding company structure, the breadth of its operations, and current challenges in its end markets. This has been achieved while, at the same time, maintaining Jardine Matheson's financial strength and funding capacity. Jardine Matheson’s share price has fallen about 42% from its 2019 peak and is all the way back to 2010 levels even though equity value is 115% higher. Jardine also has smaller exposure to manufacturing of vehicles and parts through Astra in Indonesia and Truong Hai in Vietnam, Consumer (16% of 2019 profits) Dairy Farm operates a variety of retail businesses and restaurants across Asia, Jardine Strategic is significantly cheaper than Jardine Matheson, By any measure both stocks are trading well-below asset value. JMHLY Analysis: Why the New York mayoral race is unprecedented in modern times; Some struggling Americans won’t get the stimulus payment they were promised. Webinars are open (Jan 28): Singapore shares lost 3% on Tuesday, their biggest intraday drop in more than eight months, after the city-state said the coronavirus outbreak would hit its economy this year. Real-time pricing data supplied by IEX. The Keswick family unwisely retained a stake of only about 10% when Jardine Matheson listed on the Hong Kong Stock Exchange in 1961. Along with subsidiaries, the Company operates its business through the following segments: Jardine Pacific, Jardine Motors, Jardine Lloyd Thompson, Hongkong Land, Dairy Farm, Mandarin Oriental, Jardine Cycle & Carriage and Astra. Figure 3 Ownership structure of Jardine Matheson Company 1992 Table I Model 1. JARDINE Cycle & Carriage (Jardine C&C) has appointed Benjamin Birks its new group managing director to take over Alex Newbigging, who is stepping down after more than seven years at the helm. Jardine Matheson said it would delist its second-largest unit, Jardine Strategic, in a $5.5bn buyout deal aimed at simplifying a complex, cross-shareholding structure originally set up to thwart takeover bids. Fund Class I, KPIEX - KP INTERNATIONAL EQUITY FUND INSTITUTIONAL SHARES, MMIUX - MassMutual Select T. Rowe Price International Equity Fund Class I, FNDF - Schwab Fundamental International Large Company Index ETF, Jnl Series Trust - Jnl/mellon Emerging Markets Index Fund (a), AGIAX - AB Tax-Managed All Market Income Portfolio Class A, VICTORY VARIABLE INSURANCE FUNDS - Victory Sophus Emerging Markets VIP Series Class I, Singapore falls 3% on worries of economic impact from virus | The Edge Markets, SE Asian stocks rise as China comment lifts sentiment | The Edge Markets, Singapore shares close up 0.5% on Tuesday, Jardine C&C appoints new group managing director. Jardine Matheson Holdings Ltd on Monday said it plans to buy the remaining 15% of Jardine Strategic Holdings Ltd that it does not already own for about $5.5 billion to simplify the structure … This company appears to be listed on multiple exchanges. Fund Class I, FSGEX - Fidelity Series Global ex U.S. Index Fund, JNL SERIES TRUST - JNL/Mellon MSCI World Index Fund (I), Brighthouse Funds Trust I - JPMorgan Global Active Allocation Portfolio Class B, IVLU - iShares Edge MSCI Intl Value Factor ETF, AAXJ - iShares MSCI All Country Asia ex Japan ETF, JHEM - John Hancock Multifactor Emerging Markets ETF, AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS) - Invesco Oppenheimer Global Multi-Asset Growth Fund Class R6, EMRSX - JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6, EQ ADVISORS TRUST - EQ/International Core Managed Volatility Portfolio Class IA, JIEQX - International Equity Index Trust NAV, ACWV - iShares Edge MSCI Min Vol Global ETF, EQ ADVISORS TRUST - EQ/Lazard Emerging Markets Equity Portfolio Class IB, JXGAX - JPMorgan Access Growth Fund Class A, Thrivent Core Funds - Thrivent Core International Equity Fund, GIIYX - International Equity Index Fund Institutional, Third Avenue Variable Series Trust - Third Avenue Value Portfolio, QWLD - SPDR MSCI World StrategicFactors ETF, IXUS - iShares Core MSCI Total International Stock ETF, Jnl Series Trust - Jnl/mellon International Index Fund (a), QEELX - AQR Emerging Multi-Style Fund Class I, MFEM - PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF, FHLFX - Fidelity Series International Index Fund, HLEMX - Harding Loevner Emerging Markets Portfolio Advisor, SEASONS SERIES TRUST - SA Multi-Managed International Equity Portfolio Class 1, RGLGX - American Funds Global Insight Fund Class R-6, Franklin Templeton Variable Insurance Products Trust - Templeton Developing Markets Vip Fund Class 1, SGOVX - First Eagle Overseas Fund Class A, PABAX - Putnam Dynamic Asset Allocation Balanced Fund Class A shares, JMIAX - Janus Henderson International Managed Volatility Fund Class A, Columbia Funds Variable Series Trust II - CTIVP - William Blair International Leaders Fund Class 1, PAEAX - Putnam Dynamic Asset Allocation Growth Fund Class A shares, FTIHX - Fidelity Total International Index Fund, SFVLX - Seafarer Overseas Value Fund Investor Class, GCOW - Pacer Global Cash Cows Dividend ETF, MFDX - PIMCO RAFI Dynamic Multi-Factor International Equity ETF, Brighthouse Funds Trust I - Brighthouse/Aberdeen Emerging Markets Equity Portfolio Class A, ADVANCED SERIES TRUST - AST Parametric Emerging Markets Equity Portfolio, MBAAX - Global Strategist Portfolio Class A Shares, GMF - SPDR(R) S&P(R) EMERGING ASIA PACIFIC ETF, IQDE - FlexShares International Quality Dividend Defensive Index Fund, FLQG - Franklin LibertyQ Global Equity ETF, FEBAX - First Eagle Global Income Builder Fund Class A, BGPTX - Baillie Gifford Developed EAFE All Cap Fund Class 2, VTRIX - Vanguard International Value Fund Investor Shares, DBAW - Xtrackers MSCI All World ex US Hedged Equity ETF, GBEMX - Victory Sophus Emerging Markets Fund Class A, SUNAMERICA SERIES TRUST - SA JPMorgan Diversified Balanced Portfolio Class 1, THRIVENT SERIES FUND INC - Thrivent International Index Portfolio Class A, Brighthouse Funds Trust II - MetLife MSCI EAFE Index Portfolio Class A, LINCOLN VARIABLE INSURANCE PRODUCTS TRUST - LVIP SSGA Emerging Markets Equity Index Fund Standard Class, HLMEX - Harding Loevner Institutional Emerging Markets Portfolio Institutional, Voya International High Dividend Equity Income Fund, MRKYX - AB All Market Income Portfolio Advisor Class, NATIONWIDE VARIABLE INSURANCE TRUST - NVIT GS Emerging Markets Equity Insights Fund Class Y, NATIONWIDE VARIABLE INSURANCE TRUST - NVIT International Index Fund Class Y, LZOEX - Lazard Emerging Markets Equity Portfolio Open Shares, RNDM - Developed International Equity Select ETF, IDY - Pacific Global International Equity Income ETF, WELLS FARGO MASTER TRUST - Wells Fargo Factor Enhanced Emerging Markets Portfolio, SSTIX - State Street Total Return V.I.S. Change ). Detail on 13F filings are free. Real Estate (29% of 2019 profits) Hong Kong Land owns prime financial district investment properties in Hong Kong and Singapore. One of Hong Kong’s oldest business empires, Jardine Matheson, has announced plans for a sweeping restructuring that is expected to sharply increase its market Jardine Matheson Holdings Limited (also known as Jardines) is a Hong Kong-based Bermuda-domiciled British multinational conglomerate. Jardine Matheson was founded in China as a trading company in 1832 by Scotland's William Jardine and James Matheson, and has become one of the world's largest conglomerates. On completion, Jardine Matheson will become the single holding company for its subsidiaries, a move the group said will result in a “ conventional ownership structure and a … The discounted price will be significantly accretive for Net Asset Value and Earnings of Jardine Matheson. The Keswick family stake in Jardine Matheson is still relatively small, but … Change ), You are commenting using your Google account. "Total shares owned" is a flawed measure of institutional sentiment, because it include shares owned by