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Vinci SA (VCISY) is an infrastructure company based in France. VCISY , the ADR for Vinci trades on the OTC market.

Vinci is a pure infrastructure play because it builds, maintains and operates many infrastructure things like roads, bridges, buildings, stadiums, transportation, etc. There are not many companies in this space which are available as ADRs.Firms like GE, ABB, etc. can be competitors for Vinci.

Listed below are a few important points about Vinci:

• Operates in 4 business lines - Concessions, Energy,Roads and Construction.
• Operations in France account for some 64% of revenue.
• Europe accounts for 90% of revenue.
• World’s largest toll roads operator.
• Built the Charilaos Trikoupis Bridge in Greece (Photo above) , Three Airports in Cambodia including the one in Phonm Penh,Fredericton–Moncton motorway and Confederation Bridge in Canada.
• Construction of roads and roads in Africa, Reunion Island, Vietnam, etc.
• The 5 Year average annual return of Vinci Stock in the Paris market was 35% (from 2003 to 07).
• Dividends per share increased three times in the same period.
• VICSY dividend yield is 4.29%.

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written by David

Photo: Frankfurt, Germany 

The following are some of the most traded stocks on the OTC market. All the stocks listed below had trading volume of 300,000 today:

1.Company: OAO GAZPROM ADR
Ticker: OGZPY
Country: Russia
Sector : Oil

2.Company: Nestle
Ticker: NSRGY
Country: Switzerland
Sector : Food

3.Company:MACQUARIE GRP
Ticker: MQBKY
Country: Australia
Sector : Diversified

4.Company: Adidas
Ticker: ADDYY
Country: Germany
Sector : Shoes

5.Company: Nintendo Co Ltd
Ticker: NTDOY
Country: Japan
Sector : Games

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Pretty in Pink ADRs

written by David

The developed markets are in the bear’s grip for many months now due to the credit crunch. Investors looking for better returns went to emerging markets like Brazil,India, China, etc. last year and even early this year.But that strategy is not working anymore since the emerging markets have plunged as well.My friend Vlad highlights some of the emerging market indices in the article titled Emerging markets indexes.

So this year investors are going to unusual places to invest. These are countries like Vietnam, Egypt,Peru,Indonesia,Romania, etc. Together these extremely risky markets are called “Frontier markets”. Already this year, ETF providers have luanched many ETFs for the frontier market countries.

In this post, lets look at a few ADRs,funds to invest in the frontier markets:

1.Credicorp Ltd. (BAP)
Credit Corp is a banking company in Peru.The stock has had an incredible year run as the chart shows below.BAP has a PE of 13.05 and a dividend yield of 2.10%. Beta is 1.1.The average annual dividend growth for the past 5 years is 45.41%.

Chart: 5 Year Growth

2.Indonesia Fund (IF)
IF is a closed-end fund now trading at a discount of -11.24%.This a small fund with assets of just $106M.

3.Thai Capital Fund (TF)
TF is a closed-end fund now trading at a discount of -9.93%. This a small fund with assets of just $41M.TF is down YTD some 26%.

4.Turkish Investment Fund (TKF)
This CEF has an asset base of about $111M and it is down some 26% YTD.

5.Philippines Long Distance Telephone Co (PHI)
Telecom company in the Philippines.with a high dividend yield of 5.14%.

Again the above investment vehicles should be carefully evaluated before adding them to a well diversified portfolio.

written by David