Originating from the Netherlands, Schildershoven looks far beyond its European homeland to discover trading ideas worldwide: in Asia, Africa and the Americas.The firm’s analysts are on the lookout for truly productive medium- and short-term international investment opportunities with no bias towards any particular industry or region. In our surveys we avoid meaningless content and trite expressions, which are commonplace in financial publications on the street. Oft-repeated phrases and long-winded texts are time-consuming to read and difficult to work with. There is no value in idle speculations about events, which may or may not have any material or assessable influence on the markets at all. This is why we would not generate facile investment ideas to "buy assets because they are cheap" without being able to justify this transparently. Instead, our opinions are based on the logic that may prove reasonable to our clients the way they would reason the opinions of their own. This confidence helps make timely and responsible decisions when you trade. It is what we call the INTELLIGENCE™
Life must be ‘gezellig’!

Schildershoven Finance is a Dutch company. Its origins deeply influence its nature, especially in business, how it interacts with its customers and partners, and its view of the world. Ferenc Brewster Managing Director Ferenc Brewster chose to take a look at himself and his fellow countrymen and share what he found with our blog readers….

25.10.2016 INTELLIGENCE™

• If Ukraine gets a new IMF tranche with no delay, the market reaction should be positive. However, investors should be confident in the loan approval to increase the demand for the sovereign issues. • Despite Zenith bank continues to show relatively strong results amid quite challenging economic environment in Nigeria, we closed our recommendation…

24.10.2016 INTELLIGENCE™

• We assess Petra Diamonds Limited operational results as slightly positive for the company’s bonds as on the one hand it has not shown any extraordinary progress, but on the other hand it was in line with the management forecasts. • Arcelik financial results remain quite strong, we do not rule out slightly positive market…

21.10.2016 INTELLIGENCE™

• We assess Turkey’s central bank decision as negative for the bond market as on the one hand it showed a great role of Turkish government in bank’s policy making and on the other hand it disappointed some investors who had predicted further policy easing. • Preliminary we assess the fair yield of the new…

20.10.2016 INTELLIGENCE™

• The intrigue over the Turkish central bank decision may increase the market volatility today. • Actually, we do not expect the Kazakh government to leave the Kazakhstan Temir Zholy without support. However, the rating cut may negatively impact the company’s bonds • Kazkommertsbank credit quality remains quite weak and we do not recommend its…

19.10.2016 INTELLIGENCE™

• We expect quite strong demand for the Eurobonds to be placed by Gazprom. However, the pricing is likely will be tight to the company’s yield curve. • Saudi Arabia Eurobonds may attract investors’ attention as it is the first sovereign Eurobond placement and it grants some premium to the market levels. • China’s economic…

18.10.2016 INTELLIGENCE™

• We assess EVRAZ operational results for the 3Q2016 as slightly positive given some increase in consolidated crude steel and steel products output and favorable price dynamics in Russia. • Investors are not impressed by TMK’s operational results for the 9M2016 due to the ongoing sales decline. However, the management comments on the future prospects…