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Morgan Stanley Investment Leadership Conference – Kora Management

Notes of Kora Management from the Morgan Stanley Investment Leadership Conference which took place on the 28th of June, 2018. There was a killer line up and we have notes on the full conference stay tuned for more – below is the panel consisting of Nitin Saigal of Kora Management.

The full list of speakers as follows

List of Speakers

  • David Craigen, Partner at Lansdowne Partners
  • Joshua David Samuelson, Vice Chairman at PointState Capital
  • Robert S. Pitts, Limited Partner at Steadfast Capital Management
  • Keith Meister, Corvex Management
  • Parag Vora, HG Vora Capital Management
  • Richard McGuire, Marcato Capital Management
  • Nitin Saigal, Kora Management
  • Vikram Kumar, Kuvari Partners
  • Vivian Lau, One Tusk Investment Partners
  • Jasjit Rekhi, Sandro Capital
  • Brad Gerstner, Altimeter Capital Management
  • Nathaniel August, Mangrove Partners
  • Alex Gleser, TPG Public Equity Partners
  • Simon Hillary, Lancaster Investment Management
  • Seth Rosen, Nitorum Capital
  • David Rosen, Rubric Capital Management
  • Josh Clark, Southpoint Capital Management
  • David Thomas, Atalan Capital Partners
  • Tomoko Fortune, Criterion Capital Management
  • Dennis Puri, Hunt Lane Capital
  • Gil Simon, SoMa Equity Partners
  • Christian Leone, Luxor Capital
  • Leon Shaulov, Maplelane Capital
  • Munib Islam, Third Point

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Kora Management

The panelists for the third discussion include:

  • Nitin Saigal, Kora Management
  • Vikram Kumar, Kuvari Partners
  • Vivian Lau, One Tusk Investment Partners
  • Jasjit Rekhi, Sandro Capital

Kora Management sees volatility in the emerging markets and gives the following recommendations:

The stocks that show strong correlation in terms of returns are the niche financials which include specialty lending and payments companies, and emerging internet sector which includes e-commerce and mobile gaming businesses.

Specifically, Kora Management recommends going long on Tinkoff Bank, a Russian commercial bank with a market capitalisation of $3.5 billion. The bank is listed in London and originated in Russia in 2010. It holds 12% market share in the credit card business in Russia, with 100% deposit funded and 50% return on equity. The earnings will continue to grow at a rate of 30-40% in the future.

Read the full article here.