Improve your mastery of Fintel and investing by attending a webinar. use Put and Call options, so the Put/Call ratio reveals what the smart money thinks. 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. 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 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. - 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. (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 … JARLF, 2019-07-23 businesstimes.com.sg The arrangement was refined in 1986 through the creation of Jardine Strategic as an intermediate holding company. It’s an international partner for local Asian firms that benefit from access to capital and expertise. 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%). The legal argument that would have required the Directors to act on the consolidation proposal did not end up being tested in court because the proposal only received support from 13% of Jardine Matheson shareholders. 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). VGTSX - Vanguard Total International Stock Index Fund Investor Shares, VEIEX - Vanguard Emerging Markets Stock Index Fund Investor Shares, VTRIX - Vanguard International Value Fund Investor Shares, NEWFX - NEW WORLD FUND INC Class A, AEPGX - EUROPACIFIC GROWTH FUND Class A, GBLAX - AMERICAN FUNDS GLOBAL BALANCED FUND Class A, IEMG - iShares Core MSCI Emerging Markets ETF, PRMSX - T. Rowe Price Emerging Markets Stock Fund, LZOEX - Lazard Emerging Markets Equity Portfolio Open Shares, and HLMEX - Harding Loevner Institutional Emerging Markets Portfolio Institutional. Jardine presents significant challenges for accountants and analysts. JMHLY The cross-holding structure, in which Jardine Strategic also holds 59% of Jardine Matheson, allows the family dominating influence over the group despite a relatively small stake. 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. Jardine Matheson Holdings Limited is a holding company with diversified businesses focused principally on Asia. ( Log Out /  These collaborations often result in mixed ownership which may have economic rationale, but create additional complexity for external analysis. 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 … Jardine Strategic remained public, the holding company discount was never removed, but anybody who held Jardine Strategic (or Jardine Matheson) for the past two decades enjoyed a very high return. Jardine Matheson to consolidate group structure in $5.5bn deal March 8th, 2021 SINGAPORE (Reuters) — Jardine Matheson Holdings on Monday said it plans to buy the remaining 15% of Jardine Strategic Holdings that it does not already own for about $5.5 billion to simplify the structure of the sprawling Asian conglomerate. The Company and its subsidiaries provide services in the fields of … complete picture of ownership, we have combined the ownernship of the the following securities on this page. ( Log Out /  Automotive (24% of 2019 profits) Jardine owns vehicle sales/service businesses in many countries with Indonesia (via Astra) being the most important market. 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. Nothing on this website constitutes, or is meant to constitute, advice of any kind. Figure 3 Ownership structure of Jardine Matheson Company 1992 Table I Model 1. It worked out pretty well ;). The move will result in a "conventional ownership structure and a further increase in the group's operational efficiency and financial flexibility". Hedge funds mostly about Real Estate and Chinese stocks. Webinars are open Fintel® is a registered trademark. Need help or want to help improve Fintel? The Keswick family stake in Jardine Matheson is still relatively small, but … All rights reserved. At the time of publication the author was a unitholder of Jardine Strategic. Detail on NP filings require a premium membership. The Keswick family unwisely retained a stake of only about 10% when Jardine Matheson listed on the Hong Kong Stock Exchange in 1961. Great Eagle Holdings provides an interesting example as the nine beneficiaries of the trust established by the founders split into two factions. Here are excerpts from notes about the Jardine Group that I shared privately last fall. 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 … This has been achieved while, at the same time, maintaining Jardine Matheson's financial strength and funding capacity. - (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. JARDINE Matheson Holdings announced on Monday it will simplify the parent company structure of the group by acquiring the 15 per cent of Jardine Strategic Holdings it does not already own. Detail on 13F filings are free. These institutions hold a total of 3,016,063,532 shares. JMHLY The arrangement was refined in 1986 through the creation of Jardine Strategic as an intermediate holding company. Uploaded By gnikhil. "Total shares owned" is a flawed measure of institutional sentiment, because it include shares owned by 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 further increase in the group’s operational efficiency and financial flexibility.” The deal is expected to become effective by the end of April. School Dalton State College; Course Title ECON 101; Type. 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). - SINGAPORE stocks closed higher on Tuesday, bouncing back from the previous day's decline amid official data showing inflation rates eased in June. JMHLY William Jardine, the founder this dynastic enterprise, died with no children so control passed to William Keswick, the son of his niece. It develops residential property for sale in China and Southeast Asia. It provides an opportunity to profit from a post-COVID recovery over 1-3 years and then long-term participation in growing markets over 5-10 years. (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. The Company also intends subsequently to effect the cancellation of … Since the formation of the cross-holding structure, Jardine Matheson has pursued a long term approach to the creation of shareholder value and further enhancing the Group's ownership positions through a series of share purchases and buybacks. Figure 3 ownership structure of jardine matheson. The Keswick family stake in Jardine Matheson is still relatively small, but the Board of each holding company is effectively controlled by the Board of the other so the votes of shareholders (even the Keswicks) are irrelevant. It has primary listing on the London Stock Exchange and secondary listings on the Singapore Exchange and Bermuda Stock Exchange. It s… The deal is expected to be completed by the end of April. 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. 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. The structure through which his descendants maintain control despite a direct ownership interest of only about 17% is responsible for some of the corporate complexity which has implications for valuation and shareholder returns. Major shareholders can include individual investors, mutual funds, hedge funds, or institutions. 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. World ex U.S. In order to provide the most The acquisition is valued at approximately US$5.5 billion. Fund Class 1 Shares, DGLAX - BNY Mellon Global Stock Fund Class A, FSPSX - Fidelity International Index Fund, VGLAX - Voya International High Dividend Low Volatility Fund Class A, FEM - First Trust Emerging Markets AlphaDEX Fund, NEKIX - Nuveen Emerging Markets Equity Fund Class I, EDOG - ALPS Emerging Sector Dividend Dogs ETF, SPDW - SPDR(R) Portfolio Developed World ex-US ETF, AVDEX - Avantis International Equity Fund Institutional Class, UEMPX - UBS Emerging Markets Equity Opportunity Fund CLASS P, GLTAX - Invesco Global Targeted Returns Fund Class A, RBB FUND, INC. - Aquarius International Fund, SSKEX - State Street Emerging Markets Equity Index Fund Class K, CEFA - Global X S&P Catholic Values Developed ex-U.S. ETF, THRIVENT SERIES FUND INC - Thrivent Partner Emerging Markets Equity Portfolio Class A, DEMAX - Delaware Emerging Markets Fund Class A, EITEX - Parametric Tax-Managed Emerging Markets Fund Institutional Class, SFGIX - Seafarer Overseas Growth and Income Fund Investor, DFCEX - Emerging Markets Core Equity Portfolio - Institutional Class, FSAMX - Strategic Advisers Emerging Markets Fund, PXF - Invesco FTSE RAFI Developed Markets ex-U.S. ETF, NMMEX - Active M Emerging Markets Equity Fund, SCHE - Schwab Emerging Markets Equity ETF, SAAAX - SIMT MULTI-ASSET ACCUMULATION FUND Class F, GAIGX - Gamco International Growth Fund, Inc Class A, VPACX - Vanguard Pacific Stock Index Fund Investor Shares, JPMORGAN INSURANCE TRUST - JPMorgan Insurance Trust Global Allocation Portfolio Class 1, BlackRock Funds II - BlackRock Dynamic High Income Portfolio Investor A, DWGAX - AMERICAN FUNDS DEVELOPING WORLD GROWTH & INCOME FUND Class A, JXBAX - JPMorgan Access Balanced Fund Class A, GDMIX - Lazard Global Dynamic Multi-Asset Portfolio Institutional Shares, JHAAX - Multi-Asset Absolute Return Fund Class A, VARIABLE INSURANCE PRODUCTS FUND II - International Index Portfolio Initial Class, VCSOX - International Socially Responsible Fund, IDEV - iShares Core MSCI International Developed Markets ETF, PENN SERIES FUNDS INC - Developed International Index Fund, DAEMX - Dunham Emerging Markets Stock Fund Class A, HMIRX - Hartford Multifactor International Fund Class R3, HIEIX - Federated Hermes International Equity Fund Institutional Shares, SUNAMERICA SERIES TRUST - SA International Index Portfolio Class 1, CRBN - iShares MSCI ACWI Low Carbon Target ETF, VMNVX - Vanguard Global Minimum Volatility Fund Admiral Shares, EQ ADVISORS TRUST - EQ/International Managed Volatility Portfolio Class IB, LINCOLN VARIABLE INSURANCE PRODUCTS TRUST - LVIP SSGA International Index Fund Standard Class, TBHDX - Tweedy, Browne Worldwide High Dividend Yield Value Fund, FSKLX - Fidelity SAI International Low Volatility Index Fund, GAOAX - JPMorgan Global Allocation Fund Class A, VTMGX - Vanguard Developed Markets Index Fund Admiral Shares, SSGVX - State Street Global Equity ex-U.S. Index Portfolio State Street Global All Cap Equity ex-U.S. Index Portfolio, IEMFX - T. Rowe Price Institutional Emerging Markets Equity Fund, DFA INVESTMENT DIMENSIONS GROUP INC - World ex U.S. Upgrade to unlock premium data and export to Excel . 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 … Core Equity Portfolio Institutional Class Shares, ECOW - Pacer Emerging Markets Cash Cows 100 ETF, STATE STREET MASTER FUNDS - State Street International Developed Equity Index Portfolio, MXENX - Great-West Emerging Markets Equity Fund Institutional Class, RNEM - Emerging Markets Equity Select ETF, Dfa Investment Trust Co - The Emerging Markets Series, MEVIX - Lazard Managed Equity Volatility Portfolio Institutional Shares, DSTX - Distillate International Fundamental Stability & Value ETF, FIONX - Fidelity SAI International Index Fund, Brighthouse Funds Trust I - SSGA Emerging Markets Enhanced Index Portfolio Class B, FPADX - Fidelity Emerging Markets Index Fund, BBIN - JPMorgan BetaBuilders International Equity ETF, QEFA - SPDR MSCI EAFE StrategicFactors ETF, BBAX - JPMorgan BetaBuilders Developed Asia ex-Japan ETF, VGTSX - Vanguard Total International Stock Index Fund Investor Shares, JOHN HANCOCK VARIABLE INSURANCE TRUST - Emerging Markets Value Trust Series I, DFBCX - Delaware Strategic Allocation Fund CLASS C, Voya Global Advantage & Premium Opportunity Fund, PACIFIC SELECT FUND - PD Emerging Markets Portfolio Class P, RODE - Hartford Multifactor Diversified International ETF, GIDHX - Goldman Sachs International Equity Dividend and Premium Fund Institutional, PBDM - Invesco PureBeta FTSE Developed ex-North America ETF, Brighthouse Funds Trust I - AB Global Dynamic Allocation Portfolio Class B, TLTE - FlexShares Morningstar Emerging Markets Factor Tilt Index Fund, Tax-Managed International Equity Portfolio - Tax-Managed International Equity Portfolio, BNIEX - UBS International Sustainable Equity Fund CLASS A, FNDE - Schwab Fundamental Emerging Markets Large Company Index ETF, QEMM - SPDR MSCI Emerging Markets StrategicFactors ETF, MEMKX - BNY Mellon Emerging Markets Fund Class M Shares, GGMBX - Goldman Sachs Global Managed Beta Fund Institutional Shares, DELPX - Macquarie Labor Select International Equity Portfolio DPT CLASS, ACSG - Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF, QLVD - FlexShares Developed Markets ex-US Quality Low Volatility Index Fund, MASTER INVESTMENT PORTFOLIO - Total International ex U.S. Index Master Portfolio, EMFM - Global X MSCI Next Emerging & Frontier ETF, GMWEX - GuideMark(R) World ex-US Fund Service Shares, FLSP - Franklin Liberty Systematic Style Premia ETF, VIHAX - Vanguard International High Dividend Yield Index Fund Admiral Shares, BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I.