Yun Ju Chen

Franklin Templeton SinoAm is an active, long-term, value-oriented manager which employs Franklin Templeton's bottom-up approach to select stocks. The firm seeks to invest in undervalued stocks, constructing portfolios based on in-house analysis of stock market trends, industry and market characteristics and Franklin Templeton's asset management experience.

Franklin Templeton First Taiwan is an active, long-term value-oriented manager which employs Franklin Templeton's bottom-up approach to select stocks. The firm seeks to invest in undervalued stocks, constructing portfolios based on in-house analysis of stock market trends, industry and market characteristics and Franklin Templeton's asset management experience.

HSBC-GAM Taiwan is a GARP-oriented manager which focuses on long-term capital appreciation. They emphasize fundamental research and invest primarily in equities listed on the Taiwan stock exchange, complemented with bonds and convertibles. They are self-described 'business cycle investor' following a combination of value- and growth-oriented investment approaches. They typically favor the technology sector, in particular industries such as telecommunications, electronics, semiconductors and personal computing. The firm combines top-down sector allocation and bottom-up security selection, seeking to invest in Taiwanese companies with growth potential, a competitive edge on export markets, strong technology, efficient R&D, quality management, a favorable regulatory environment and access to low-cost labor and raw materials. Key selection criteria include profit margins, return on investment and capital resources. Research is shared within HSBC. The group's Global Investment Strategy Group (GISG) defines monthly a macro investment strategy covering global economic projections, fixed-income expected returns, Forex projections, regional equity market performance expectations and global views on key sectors. Local specialist teams perform fundamental research including company visits.