Flash Note: Market Players - Credicorp Capital Colombia

Comments

Transcription

Flash Note: Market Players - Credicorp Capital Colombia
Flash Note: Market Players
Figures for February 2013
Monday, March 11th, 2013
Flash Note: Market Players
Market Players’ Share in Traded Volume (Monthly)
Other
6%
9%
Brokerage Firms
4%
5%
9%
8%
5%
Corporate
Pension Funds
Retail
Foreign
7%
6%
8%
9%
5%
5%
19%
14%
12%
18%
15%
13%
30%
35%
24%
30%
24%
25%
24%
3%
16%
17%
24%
23%
8%
10%
14%
11%
20%
13%
8%
19%
15%
10%
8%
11%
14%
12%
11%
10%
12%
13%
11%
12%
12%
13%
21%
22%
7%
8%
7%
8%
7%
7%
8%
7%
9%
10%
9%
10%
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
23%
22% 22%
Mar-12
23%
24%
Feb-12
25%
12%
12%
12%
22%
14% 16%
18%
12%
Feb-13
19%
Below the details of the transactions, the participation of each
player within the total volume and our considerations:
21%
25%
8%
9%
The Colombian Stock Exchange released buyer and seller side
transaction figures for the main market players, as of February
2013.
5%
11%
26%
26%
32%
ADR Programs
Source: BVC & Correval
Market Players’ Net Transactions (Annual and 2013 YTD)
Other
Brokerage Firms
Corporate
Retail
Foreign
ADR Programs
Pension Funds
6,000
4,000
192
69
82
2
306
2,000
(2,000)
(4,000)
(6,000)
2009
2010
2011
2012
Feb-13
-152
-500
-
In February, traded volume continued to show a positive growth
when compared to Jan-13 (+18.0% MoM), however, traded volume
dropped 29.3% in year over year terms: traded volume amounted
COP 4.06tn in Feb-13. Average daily traded volume (ADTV) stood at
COP 203bn (USD 113mn). The Colcap Index dropped 1.16% during the
month amid the following relevant events: (i) 4Q12 corporate results and
(ii) Bancolombia and Cemargos’ announcements regarding preferred
stock issuances.
Foreign Investors, Pension Funds and Brokerage Firms: Institutional
investors (pension funds and foreign investors) maintained their net
buyer position in the local market, as they did throughout 2012.
Brokerage firms (including both wealth management and prop-trading)
were net buyers for second consecutive month, contrary to the behavior
in recent years (net-seller positions in 2010, 2011 and 2012).
*Figures in COP billion
Source: BVC & Correval
Juliana Valencia
GEA & BVC
Tel: (571) 339 4400 Ext 365
[email protected]
Calle 34 No 6-65 Bogota-Colombia
Foreign Investors have accumulated a net-buyer position of COP 6.96tn
(USD 3.87bn) since Feb-10.
Local Retail and Corporate: as of February, local retail remained as net
sellers (COP 500bn YTD as of Feb-13) and lost more than 6pp of
participation within the Colombian equity traded volume when compared
to 2012YE. Corporates were net buyers in February, contrary to what
had been seen in January, with which YTD figures turned to positive
grounds.
Local retail has accumulated a net-seller position of COP 5.73tn
(USD3.18bn) since Jan-10.
Flash Note: Market Players
Figures for February 2013
Monday, March 11th, 2013
EQUITY RESEARCH TEAM
EQUITY SALES & TRADING
CHILE
PERÚ
COLOMBIA
Francisca Manuschevich
Head of Equity Research - Chile
[email protected]
# (562) 2446 1798
Alejandro Rabanal
Head of Equity Research - Perú
[email protected]
# (511) 205 9190 Ext 36070
Daniel Velandia
Head of Research & Chief Economist
[email protected]
# (571) 339 4400 Ext 505
Hernán Arellano
Head of Equities
[email protected]
# (562) 2446 1706
Marilyn Macdonald
Equity Sales International
[email protected]
# (4477) 7151 5855
Roberto Salas
Equity Sales International
[email protected]
# (562) 2446 1732
Cristián Castillo
Sales & Trading International
[email protected]
# (562) 2446 1751
Christopher DiSalvatore
Senior Analyst: Retail & Financials
[email protected]
# (562) 2446 1724
María Teresa Sarmiento
Senior Analyst: Infrastructure
[email protected]
# (511) 205 9190 Ext 33055
Valeria Marconi
Senior Analyst: Oil & Gas
[email protected]
# (571) 339 4400 Ext 594
CHILE
PERÚ
Felipe Etchegaray
Senior Analyst: Utilities
[email protected]
# (562) 2446 1768
Fernando Pereda
Senior Analyst: Cement & Utilities
[email protected]
# (511) 205 9190 Ext 37856
Jaime Pedroza
Senior Analyst: Utilities
[email protected]
# (571) 339 4400 Ext 9139
Rene Ossa
Equity Sales International
[email protected]
# (562) 2651 9324
Jorge Monsante
General Manager Credibolsa
[email protected]
# (511) 313 2918
Ignacio Spencer
Senior Analyst: Food & Beverages, Others
[email protected]
# (562) 2450 1688
Héctor Collantes
Senior Analyst: Mining
[email protected]
# (511) 205 9190 Ext 33052
Juan Camilo Domínguez
Senior Analyst: Banks
[email protected]
# (571) 339 4400 Ext 572
Christian Munchmeyer
Sales & Trading International
[email protected]
# (562) 2450 1613
Gonzalo Morales
Head of Sales & Trading
[email protected]
# (511) 313 2918 Ext 32901
Javier Günther
Analyst: Construction & Health Services
[email protected]
# (562) 2450 1695
Omar Avellaneda
Senior Analyst: Retail & Others
[email protected]
# (511) 205 9190 Ext 36065
Juliana Valencia
Analyst: GEA & BVC
[email protected]
# (571) 339 4400 Ext 365
COLOMBIA
Jorge Juan Aita
Sales & Trading
[email protected]
# (511) 313 2918 Ext 32901
José Manuel Edwards
Analyst: Natural Resources
[email protected]
# (562) 2446 1761
Lourdes Alamos
Assistant to Research
[email protected]
# (562) 2450 1609
Sergio Ortíz
Head of Equities Sales - Colombia
[email protected]
# (571) 339 4400 Ext 273
Juan Antonio Jiménez
Head of Equity Sales International
[email protected]
# (571) 339 4400 Ext 466
Úrsula Mitterhofer
Sales & Trading
[email protected]
# (511) 313 2918 Ext 32922
Santiago Castro
Sales & Trading International
[email protected]
# (571) 339 4400 Ext 369
This report has been prepared by IM Trust S.A. and/or Correval S.A. and/or Credibolsa SAB. S.A, for informative purposes only. This report is based on publicly available information that it should be considered to
come from reliable sources, but we don’t represent it as accurate or complete, and it should not be relied on as such.
Unless otherwise stated, this report does not include privileged information that could violate either copyrights or market regulations.
This material belongs to IM Trust S.A. and/or Correval S.A. and/or Credibolsa SAB. S.A. and cannot be copied, distributed or redistributed in any form by any means or without the prior written consent of IM Trust
S.A. and/or Correval S.A. and/or Credibolsa SAB. S.A.
The purpose of this report is not to predict the future, nor guarantee specific financial results. It is also important to consider that the information contained in this research may be oriented to a specific segment of
clients or investors, with a certain risk profile that may not be yours. Unless otherwise stated, the report does not contain investment recommendations or other suggestions that can be understood to be given
under the capital market intermediaries’ special duty to clients classified as investors. When recommendations are made, the report will specify a risk profile. IM Trust S.A. and/or Correval S.A. and/or Credibolsa
SAB. S.A. can seek and/or conduct business with companies that are not mentioned in the report, as well as can execute buying and selling transactions of mentioned shares.
It is important to state that fluctuations in Exchange rates can have adverse effects on investment value. IM Trust S.A. and/or Correval S.A. and/or Credibolsa SAB. S.A. recommend to their clients to search for
assistance from professionals accredited to the appropriate regulatory agency. It is up to the client to determine if the information in this report is sufficient to make an investment decision or any other market
operation.
Under no circumstances the information published here can be considered as a legal, accounting or taxation concept. When it i s required, IM Trust S.A. and/or Correval S.A. and/or Credibolsa SAB S.A.
recommend to their clients to ask for advice from professionals accredited.
Juliana Valencia
GEA & BVC
IM Trust S.A. and/or Correval S.A. and/or Credibolsa SAB S.A. do not assume any responsibility, obligation nor any loss related to the information contained in this report, neither do the said firms assume a civil
responsibility for any legal recourse caused by action or omission derived from this document.
Tel: (571) 339 4400 Ext 365
[email protected]
Calle 34 No 6-65 Bogota-Colombia

Similar documents