Technology
Enghouse Releases Second Quarter Results
Published
2 years agoon
By
MARKHAM, ON, June 10, 2024 /CNW/ – Enghouse Systems Limited (TSX: ENGH) announces second quarter (unaudited) financial results for the period ended April 30, 2024. All figures are denominated in Canadian dollars unless otherwise indicated.
Highlights for the Second Quarter ended April 30, 2024 compared to the same quarter in the prior year:
Revenue increased 10.9% to $125.8 million.Recurring revenue, which includes SaaS and maintenance services, grew 18.6% to $85.0 million, and represents 67.5% of total revenue.Operating profits increased 30.5% to $33.5 million, while achieving a 28.4% EBITDA margin.
Financial results for the three and six months ended April 30, 2024, compared to the three and six months ended April 30, 2023, are as follows:
Revenue increased to $125.8 and $246.3 million, respectively, compared to revenue of $113.5 and $219.9 million;Results from operating activities was $33.5 and $66.1 million, respectively, compared to $25.6 and $55.5 million;Net income was $20.0 and $38.1 million, respectively, compared to $12.5 and $29.6 million;Adjusted EBITDA was $35.7 and $70.4 million, respectively, compared to $30.2 and $62.5 million;Cash flow from operating activities, excluding changes in working capital, was $38.6 and $74.2 million, respectively, compared to $28.9 and $61.5 million resulting in record cash and cash equivalents of $263.8 million.
Our strong performance this quarter is demonstrated by double-digit growth in revenue, profitability and operating cash flows. Our proficiency in executing and integrating acquisitions continues to be a crucial profit growth driver. This quarter we completed the acquisition of Mediasite, which expanded our video technology into the education and event market and increased our presence in Japan.
Our business model continues to prioritize operational discipline as the demand for SaaS increases. Operational expenditures have shown improvement when compared to revenue both for the quarter and period to date, despite inflationary pressures and integrating acquisitions. Continued discipline in our business activities has increased our cash and cash equivalents to the record level of $263.8 million, with no external debt, while increasing our dividend, repurchasing shares, and completing and integrating the Mediasite acquisition in the quarter.
Subsequent to quarter-end on May 9, 2024, Enghouse completed its acquisition of substantially all of the assets of SeaChange International, Inc. (“SeaChange”) related to its IPTV products and services business, for a net purchase price of approximately US$23 million. This acquisition increases the scale of our IPTV business, augments our product offering and furthers our expansion into the European market. SeaChange will be integrated within the Asset Management Group from the date of acquisition.
Quarterly dividends:
Today, the Board of Directors approved the Company’s eligible quarterly dividend of $0.26 per common share payable on August 30, 2024 to shareholders of record at the close of business on August 16, 2024.
Enghouse Systems Limited
Financial Highlights
(unaudited, in thousands of Canadian dollars)
For the period ended April 30
Three months
Six months
2024
2023
Var ($)
Var (%)
2024
2023
Var ($)
Var (%)
Revenue
$
125,813
$
113,461
12,352
10.9
$
246,302
$
219,896
26,406
12.0
Direct costs
43,201
38,106
5,095
13.4
84,783
72,914
11,869
16.3
Revenue, net of direct costs
$
82,612
$
75,355
7,257
9.6
$
161,519
$
146,982
14,537
9.9
As a % of revenue
65.7 %
66.4 %
65.6 %
66.8 %
Operating expenses
49,031
47,712
1,319
2.8
95,211
89,422
5,789
6.5
Special charges
106
2,001
(1,895)
(94.7)
197
2,029
(1,832)
(90.3)
Results from operating activities
$
33,475
$
25,642
7,833
30.5
$
66,111
$
55,531
10,580
19.1
As a % of revenue
26.6 %
22.6 %
26.8 %
25.3 %
Amortization of acquired software and
customer relationships
(11,146)
(9,838)
(1,308)
(13.3)
(21,520)
(18,670)
(2,850)
(15.3)
Foreign exchange losses
(86)
(790)
704
89.1
(1,803)
(1,843)
40
2.2
Interest expense – lease obligations
(148)
(192)
44
22.9
(298)
(359)
61
17.0
Finance income
2,602
1,006
1,596
158.6
4,963
1,982
2,981
150.4
Finance expenses
(12)
(124)
112
90.3
(12)
(131)
119
90.8
Other income (expenses)
220
( 528)
748
141.7
106
(655)
761
116.2
Income before income taxes
$
24,905
$
15,176
9,729
64.1
$
47,547
$
35,855
11,692
32.6
Provision for income taxes
4,931
2,640
2,291
86.8
9,440
6,296
3,144
49.9
Net Income for the period
$
19,974
$
12,536
7,438
59.3
$
38,107
$
29,559
8,548
28.9
Basic earnings per share
0.36
0.23
0.13
56.5
0.69
0.53
0.16
30.2
Diluted earnings per share
0.36
0.23
0.13
56.5
0.69
0.53
0.16
30.2
Operating cash flows
40,256
18,698
21,558
115.3
60,155
47,960
12,195
25.4
Operating cash flows excluding changes
in working capital
38,613
28,875
9,738
33.7
74,170
61,507
12,663
20.6
Adjusted EBITDA
Results from operating activities
33,475
25,642
7,833
30.5
66,111
55,531
10,580
19.1
Depreciation
551
613
(62)
10.1
1,045
1,239
(194)
15.7
Depreciation of right-of-use assets
1,570
1,931
(361)
18.7
3,076
3,667
(591)
16.1
Special charges
106
2,001
(1,895)
94.7
197
2,029
(1,832)
90.3
Adjusted EBITDA
$
35,702
$
30,187
5,515
18.3
$
70,429
$
62,466
7,963
12.7
Adjusted EBITDA margin
28.4 %
26.6 %
28.6 %
28.4 %
Adjusted EBITDA per diluted share
$
0.64
$
0.54
0.10
18.5
$
1.27
$
1.13
0.14
12.4
Condensed Consolidated Interim Statements of Financial Position
(in thousands of Canadian dollars)
(unaudited)
As at April 30,
2024
As at October 31,
2023
ASSETS
Current assets:
Cash and cash equivalents
$
262,918
$
239,532
Short-term investments
854
827
Accounts receivable
110,965
93,383
Prepaid expenses and other assets
17,369
15,515
Income taxes recoverable
–
114
392,106
349,371
Non-current assets:
Property and equipment
3,328
3,273
Right-of-use assets
9,966
12,242
Intangible assets
98,253
109,659
Goodwill
292,990
280,241
Deferred income tax assets
25,422
28,884
429,959
434,299
$
822,065
$
783,670
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities
$
70,229
$
67,769
Income tax payable
1,500
–
Dividends payable
14,398
12,156
Provisions
1,420
2,238
Deferred revenue
130,273
109,019
Lease obligations
5,733
6,322
223,553
197,504
Non-current liabilities:
Income taxes payable
–
1,333
Deferred income tax liabilities
11,897
13,340
Deferred revenue
7,752
8,170
Net employee defined-benefit obligation
1,922
1,912
Lease obligations
4,337
6,080
25,908
30,835
249,461
228,339
Shareholders’ equity:
Share capital
113,237
107,701
Contributed surplus
10,252
10,404
Retained earnings
436,848
426,397
Accumulated other comprehensive income
12,267
10,829
572,604
555,331
$
822,065
$
783,670
Condensed Consolidated Interim Statements of Operations and Comprehensive Income
(in thousands of Canadian dollars, except per share amounts)
(unaudited)
Three months
Six months
Periods ended April 30
2024
2023
2024
2023
Revenue
Software licenses
$ 20,492
$ 22,016
$ 37,467
$ 42,751
SaaS and maintenance services
84,984
71,634
169,571
138,137
Professional services
17,401
17,995
33,346
34,886
Hardware
2,936
1,816
5,918
4,122
125,813
113,461
246,302
219,896
Direct costs
Software licenses
741
698
1,415
1,568
Services
40,951
36,793
80,482
69,218
Hardware
1,509
615
2,886
2,128
43,201
38,106
84,783
72,914
Revenue, net of direct costs
82,612
75,355
161,519
146,982
Operating expenses
Selling, general and administrative
24,812
23,935
47,681
44,733
Research and development
22,098
21,233
43,409
39,783
Depreciation
551
613
1,045
1,239
Depreciation of right-of-use assets
1,570
1,931
3,076
3,667
Special charges
106
2,001
197
2,029
49,137
49,713
95,408
91,451
Results from operating activities
33,475
25,642
66,111
55,531
Amortization of acquired software and customer relationships
(11,146)
(9,838)
(21,520)
(18,670)
Foreign exchange losses
(86)
(790)
(1,803)
(1,843)
Interest expense – lease obligations
(148)
(192)
(298)
(359)
Finance income
2,602
1,006
4,963
1,982
Finance expenses
(12)
(124)
(12)
(131)
Other income (expenses)
220
(528)
106
( 655)
Income before income taxes
24,905
15,176
47,547
35,855
Provision for income taxes
4,931
2,640
9,440
6,296
Net income for the period
19,974
12,536
38,107
29,559
Item that may be subsequently reclassified to income:
Cumulative translation adjustment
9,455
11,295
1,438
21,038
Other comprehensive income
9,455
11,295
1,438
21,038
Comprehensive income
$ 29,429
$ 23,831
$ 39,545
$ 50,597
Earnings per share
Basic
$ 0.36
$ 0.23
$ 0.69
$ 0.53
Diluted
$ 0.36
$ 0.23
$ 0.69
$ 0.53
Condensed Consolidated Interim Statements of Cash Flows
(in thousands of Canadian dollars)
(unaudited)
Three months
Six months
Periods ended April 30
2024
2023
2024
2023
OPERATING ACTIVITIES
Net income for the period
$ 19,974
$ 12,536
$ 38,107
$ 29,559
Adjustments for non-cash items
Depreciation
551
613
1,045
1,239
Depreciation of right-of-use assets
1,570
1,931
3,076
3,667
Interest expense – lease obligations
148
192
298
359
Amortization of acquired software and customer relationships
11,146
9,838
21,520
18,670
Stock-based compensation expense
501
473
778
931
Provision for income taxes
4,931
2,640
9,440
6,296
Finance expenses and other (income) expenses
(208)
652
(94)
786
38,613
28,875
74,170
61,507
Changes in non-cash operating working capital
6,651
(5,989)
(6,489)
(3,987)
Income taxes paid
(5,008)
(4,188)
(7,526)
(9,560)
Net cash provided by operating activities
40,256
18,698
60,155
47,960
INVESTING ACTIVITIES
Net purchase of property and equipment
(418)
(66)
(778)
(171)
Acquisitions, net of cash acquired*
(12,594)
(25,617)
(12,594)
(25,617)
Purchase consideration for prior-year acquisition
–
233
171
233
Purchase of short-term investments
–
–
–
(69)
Net cash used in investing activities
(13,012)
(25,450)
(13,201)
(25,624)
FINANCING ACTIVITIES
Issuance of share capital
373
–
4,683
604
Normal course issuer bid share repurchases
(1,147)
–
(1,147)
Repayment of lease obligations
(1,798)
(2,470)
(3,400)
(4,280)
Dividends paid
(12,188)
(10,225)
(24,344)
(20,446)
Net cash used in financing activities
(14,760)
(12,695)
(24,208)
(24,122)
Impact of foreign exchange on cash and cash equivalents
3,682
3,797
640
8,833
Increase (decrease) in cash and cash equivalents
16,166
(15,650)
23,386
7,047
Cash and cash equivalents – beginning of period
246,752
247,801
239,532
225,104
Cash and cash equivalents – end of period
$ 262,918
$ 232,151
$ 262,918
$ 232,151
* Acquisitions are net of cash acquired of $497 for the three and six months ended April 30, 2024 and $2,088 for the three and six months ended April 30, 2023, respectively.
Enghouse Systems Limited
Segment Reporting Information
(in thousands of Canadian dollars)
Three months ended April 30
2024
2023
IMG
AMG
Total
IMG
AMG
Total
Revenue
$
80,530
$
45,283
$
125,813
$
64,578
$
48,883
$
113,461
Direct costs
(26,573)
(16,628)
(43,201)
(19,133)
(18,973)
(38,106)
Revenue, net of direct costs
53,957
28,655
82,612
45,445
29,910
75,355
Operating expenses excluding special charges
(23,483)
(11,751)
(35,234)
(23,034)
(12,596)
(35,630)
Depreciation
(392)
(159)
(551)
(544)
(69)
(613)
Depreciation of right-of-use assets
(997)
(573)
(1,570)
(941)
(990)
(1,931)
Segment profit
$
29,085
$
16,172
$
45,257
$
20,926
$
16,255
$
37,181
Special charges
(106)
(2,001)
Corporate and shared service expenses
(11,676)
(9,538)
Results from operating activities
$
33,475
$
25,642
Six months ended April 30
2024
2023
IMG
AMG
Total
IMG
AMG
Total
Revenue
$
156,666
$
89,636
$
246,302
$
122,431
$
97,465
$
219,896
Direct costs
(51,979)
(32,804)
(84,783)
(35,564)
(37,350)
(72,914)
Revenue, net of direct costs
104,687
56,832
161,519
86,867
60,115
146,982
Operating expenses excluding special charges
(44,909)
(23,447)
(68,356)
(42,285)
(23,916)
(66,201)
Depreciation
(769)
(276)
(1,045)
(1,081)
(158)
(1,239)
Depreciation of right-of-use assets
(1,933)
(1,143)
(3,076)
(2,041)
(1,626)
(3,667)
Segment profit
$
57,076
$
31,966
$
89,042
$
41,460
$
34,415
$
75,875
Special charges
(197)
(2,029)
Corporate and shared service expenses
(22,734)
(18,315)
Results from operating activities
$
66,111
$
55,531
Enghouse is a Canadian publicly traded company (TSX:ENGH) that provides mission-critical vertically focused enterprise software solutions. Our core technologies are used for contact centers, video communications, virtual healthcare, telecommunications networks, public safety and the transit market. The Company’s two-pronged growth strategy to grow earnings focuses on organic growth and acquisitions, which, to date, have been funded through operating cash flows as the Company has no outstanding external debt financing. The Company is organized around two business segments, the Interactive Management Group (“IMG”) and the Asset Management Group (“AMG”) due to their unique customer segments and technology offerings. Further information about Enghouse may be obtained from the Company’s website at www.enghouse.com.
Conference Call and Webcast
A conference call to discuss the results will be held on Tuesday, June 11, 2024 at 8:45 a.m. EST. To participate, please call
+1-289-514-5100 or North American Toll-Free +1-800-717-1738. Confirmation code: 14684. A webcast is also available at: https://www.enghouse.com/investors.php.
The Company uses non-IFRS measures to assess its operating performance. Securities regulations require that companies caution readers that earnings and other measures adjusted to a basis other than IFRS do not have standardized meanings and are unlikely to be comparable to similar measures used by other companies. Accordingly, they should not be considered in isolation. The Company uses Adjusted EBITDA as a measure of operating performance. Therefore, Adjusted EBITDA may not be comparable to similar measures presented by other issuers. Adjusted EBITDA is calculated based on results from operating activities adjusted for depreciation of property and equipment and right-of-use assets, and special charges for acquisition related restructuring costs. Management uses Adjusted EBITDA to evaluate operating performance as it excludes amortization of software and intangibles (which is an accounting allocation of the cost of software and intangible assets arising on acquisition), any impact of finance and tax related activities, asset depreciation, foreign exchange gains and losses, other income and restructuring costs primarily related to acquisitions.
SOURCE Enghouse Systems Limited
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Xu Leyang, Co‑founder of Seekee, observed that vast segments of the global population have yet to gain meaningful access to AI. With “everyday users” at the heart of its mission, Seekee is building accessible, consumer‑facing AI products tailored for the world’s two billion ordinary people.
The team has strategically focused on Latin America — an underserved blue‑ocean market largely overlooked by major tech players. Few leading global large language models have dedicated meaningful R&D or localisation efforts to Spanish and Portuguese, the region’s dominant languages. By capitalising on the region’s distinctive linguistic landscape, local user behaviour patterns, and a proprietary repository of region‑specific language data amassed over time, Seekee has built a competitive moat that is difficult to replicate.
According to Sensor Tower, a mobile analytics platform, Seekee ranked eighth globally in the 2025 generative AI app download charts. Within Latin America, its brand recognition is on par with ChatGPT. Launched just over a year ago, the platform has already amassed tens of millions of monthly active users and demonstrated strong user retention.
Wu Xin, Partner and Global Head of AI Applications at BorderX Lab, delivered a presentation themed “Power of Agent Plus.” Drawing on real‑world deployments within the fashion and luxury sectors, he explained that AI agents are fundamentally reshaping traditional cross‑border industries and unlocking significant efficiency gains across the entire value chain.
E‑commerce, he noted, is undergoing a paradigm shift. Competition has moved beyond capturing user attention to precisely identifying consumer intent, with AI agents emerging as a critical instrument for surfacing latent global consumption demand. Powered by proprietary technology and data infrastructure, BorderX Lab has built a global consumer network that is helping redefine how Chinese cross‑border consumer tech reaches the world.
He further observed that agent‑enabled payments will form the bedrock of agent‑driven e‑commerce, and expressed optimism about jointly exploring blue‑ocean opportunities with Alpha Ladder.
Yang Mingyuan, Senior Investment & Financing Manager at QCraft, observed that among the broader Physical AI landscape, autonomous driving stands out as the first segment to achieve mass production at scale, sustainable commercial profitability, and rapid real‑world deployment.
The company’s core competitive advantage lies in its unified, self‑developed technical foundation — one that underpins both its L2+ advanced driver assistance systems and its multi‑scenario L4 autonomous driving capabilities. This homologous architecture also serves as a strategic springboard for QCraft’s broader push into general Physical AI. Its fully in‑house toolchain and data platform form a formidable competitive moat, while the company’s “Autonomous Driving Super Factory” system standardises the entire model training and simulation testing lifecycle — covering the full data pipeline to enable continuous, high‑velocity iteration and optimisation of its algorithm models.
He Liang, Chief Financial Officer of Yidianyun, shared that the company — a leading domestic provider of office IT infrastructure — is now pivoting to become an office AI infrastructure enabler. Its mission is to lower the barrier to AI compute access for enterprises through remanufacturing technology and subscription‑based models.
Yidianyun has built a four‑tier business framework that underpins its cost and service advantages, with a strategic focus on edge‑side AI hardware across AI PCs, AI workstations, and AI servers. He noted that direct procurement of AI hardware entails substantial one‑off capital expenditure for small and medium‑sized enterprises. Subscription models, by contrast, significantly ease funding pressure and hedge against upfront investment risk — a key factor driving the rapid growth of its proprietary AI workstation business.
For overseas expansion, Yidianyun plans to launch pilot cross‑border operations from Hong Kong as its initial hub, with the potential to extend its reach to additional international markets in due course.
Liu Chenxin, Assistant to the Director of the National Institute of Biological Sciences, Beijing (NIBS), shared insights at the forum. With a strong track record in research commercialisation, NIBS has incubated a number of benchmark biopharma companies including Huahui Anjian, Vitaraylon, and Denovo Biotech. Drawing on years of translational experience, the institute has comprehensively upgraded its established commercialisation framework and officially launched BISON — a new innovation incubation hub designed to tackle the persistent high‑risk challenges inherent in biopharmaceutical investment through a unique translational model and commercial logic.
Unlike conventional technology‑driven incubation models, BISON places market demand at the core of its approach. It partners with leading tertiary hospitals to identify clinical pain points at the front end, while aligning with pharmaceutical companies at the back end to reverse‑engineer original drug pipelines based on industry needs. Looking ahead, BISON will continue to leverage its deep foundation in original research to incubate high‑value biopharmaceutical innovations, helping domestically developed first‑in‑class drugs reach global markets and supporting the international expansion of China’s biotech industry.
Lei Zhicheng, Deputy General Manager of Mango Finance Limited, observed that the institutional advantages of Hong Kong’s capital market, combined with deepening economic and trade ties with the Middle East, have opened up new channels for Chinese tech innovators to access global capital. Closely aligned with policy directions and enterprises’ internationalisation ambitions, Mango Finance is focused on listing incubation and cross‑border expansion services, fostering service synergies through close collaboration with a diverse network of professional partners.
As an established securities firm, the company is steadily expanding its digital finance footprint in step with regulatory developments. Lei expressed keen interest in establishing system‑level connectivity with Alpha Ladder, and leveraging AI and cutting‑edge digital technologies to accelerate the digital transformation and upgrade of traditional securities operations.
Kevin Chen, CEO of Boost Bank and Founder of Aicapay, observed that as the Belt and Road Initiative continues to gain momentum, emerging markets across Africa, the Middle East, and Latin America are undergoing rapid economic and industrial transformation. Combined with surging outbound investment and cross‑border trade from China, the cross‑border finance sector in these markets presents enormous growth potential.
Boost Bank specialises in building localised compliance frameworks. Backed by multi‑jurisdictional licences, on‑the‑ground risk control teams, and deep‑rooted local financial resources, the company has established a fully integrated, end‑to‑end cross‑border capital loop — delivering tailored, client‑specific solutions for enterprises expanding globally. Chen underscored the strong strategic complementarity between the two firms and signalled Boost Bank’s intent to join forces with Alpha Ladder in building a fintech service ecosystem that empowers Chinese companies to seize opportunities in emerging markets worldwide.
Yin Li, Partner at Shanghai Landi Law Firm, shared that the firm established its first overseas offices a decade ago, making it one of China’s early legal practices to focus on cross‑border corporate services. It provides Chinese enterprises with full‑spectrum legal support spanning overseas investment filing, intellectual property protection, and cross‑border capital repatriation.
Against a backdrop where overseas expansion has evolved from conventional trade to high‑value industrial globalisation — marked by the coordinated export of technology, production capacity, and capital — and given the strong alignment between Middle Eastern development agendas and the Belt and Road Initiative, Chinese enterprises pursuing comprehensive deployment in the region have generated robust demand for localised legal services. This, he noted, is the key driver behind the firm’s intensified focus on the Middle East market.
Yin emphasised that proactive compliance is the core moat for enterprises going global. Businesses must conduct thorough assessments of local regulatory and legal frameworks before entering overseas markets. Leveraging its “on‑the‑ground global presence” model — with coordinated teams across China and multiple international jurisdictions — the firm conducts advance due diligence to identify and mitigate legal risks inherent in cross‑border operations.
About Alpha Ladder:
Alpha Ladder is a Singapore-regulated fintech group focused on developing a world-leading, one-stop, fully compliant financial infrastructure — delivering secure, efficient cross-border financial solutions for enterprises going global. The Group holds core licences issued by the Monetary Authority of Singapore (MAS), covering securities, futures, fund management, custody, RWA asset exchange, and Major Payment Institution (MPI). We also maintain regulatory approvals in Canada, and are actively expanding our footprint across key global financial hubs including Switzerland, Dubai, and Hong Kong, building a globally compliant regulatory network. By leveraging AI to reshape compliance, risk management, and treasury operations, Alpha Ladder empowers enterprises to reduce costs, enhance efficiency, and achieve sustainable global growth.
For more information, please visit our official website: www.alphaladder.hk
View original content:https://www.prnewswire.com/apac/news-releases/alpha-ladder-hosts-globalization-forum-debuts-proprietary-ai-platform-agentx-302833044.html
SOURCE Alpha Ladder
Technology
UOB Asset Management Highlights Global Resilience Despite Heightened Uncertainty
Published
18 minutes agoon
July 24, 2026By
SINGAPORE, July 24, 2026 /PRNewswire/ — UOB Asset Management (UOBAM) has released its 3Q 2026 Quarterly Investment Strategy, highlighting the global economy’s resilience in the face of persistent headwinds, including inflation, tariffs, geopolitical tensions and energy market volatility.
Despite repeated challenges over the past 18 months, economic activity has remained robust. Corporate earnings have held up across major regions, labour markets have remained resilient, and continued investment in artificial intelligence (AI) infrastructure is providing a powerful tailwind for growth.
While uncertainty remains elevated, the global economy’s resilience has reinforced confidence that the current expansion remains durable, even as risks continue to evolve.
On interest rates, UOBAM’s base case is that the US Federal Reserve is more likely to remain on an extended pause than embark on a new rate-hiking cycle. Although inflation remains sticky and recent geopolitical developments have raised upside risks, the firm continues to see evidence of moderating underlying inflation pressures, particularly in housing and wages.
Within equities, UOBAM remains positive on Asia and has upgraded Onshore China to overweight from underweight. Despite strong market gains, Asia continues to trade at a valuation discount to global equities, even as earnings growth has accelerated. UOBAM believes this combination of strong earnings momentum and attractive valuations presents a compelling opportunity for investors. In China, improving industrial profits and continued growth in higher-value sectors have strengthened the investment case for selected areas of the market, particularly those linked to AI, semiconductors, energy infrastructure and advanced manufacturing.
Anthony Raza, Head of UOBAM Multi-Asset Strategy, said, “The key story for investors is that the global economy has repeatedly withstood shocks without derailing growth. Despite a more uncertain backdrop, we continue to see attractive opportunities in Asia, where strong earnings growth is supported by compelling valuations, and we maintain gold as a preferred allocation as investors navigate an increasingly complex environment.”
In its asset allocation strategy, UOBAM remains overweight equities, diversified across fixed income and underweight cash. The firm continues to favour the United States and Asia within equities, while retaining a positive outlook on gold. Supported by strong central bank demand and its role as a safe-haven asset during periods of uncertainty, gold remains an important source of portfolio diversification.
For deeper insights across equities, fixed income, currencies and commodities, read the full 3Q 2026 Investment Strategy: https://uobam.com.sg/qis3q26
About UOB Asset Management
UOB Asset Management Ltd (UOBAM) is a wholly-owned subsidiary of United Overseas Bank Limited. Established in 1986, UOBAM has 40 years of experience in managing collective investment schemes and discretionary funds in Singapore, making us among the largest unit trust managers by assets under management. As of 30 June 2026, we manage 63 unit trusts in Singapore and together with our subsidiaries, oversee S$44.3 billion in clients’ assets.
Headquartered in Singapore, UOBAM has a strong presence across Asia, with business and investment offices in Brunei, Indonesia, Japan, Malaysia, Thailand and Vietnam. Our network includes UOB Islamic Asset Management Sdn Bhd in Malaysia, a joint venture with Ping An Fund Management Company Limited (China) and strategic alliances with partners such as Wellington Management Singapore.
UOBAM is one of the region’s most awarded asset managers, with over 380 awards won. In 2025, we were recognised as the Best Regional Asset Management Company by the Asia Asset Management and previously named Best Asset Management House in Asia – 20 Years in 2023. Our digital innovation has also earned top honours, including Best Digital Wealth Management in Asia[1] and Best Robo Advisory Initiative[2] for four consecutive years as of 2025.
As a leader in sustainable investing, UOBAM was awarded Best application of ESG in ASEAN[3] (2023) and has received multiple sustainability accolades in Indonesia and Thailand. Our artificial intelligence capabilities were also recognised with the Most Innovative Application of Artificial Intelligence (ASEAN) for three consecutive years[4].
Connect with us: LinkedIn | Facebook
[1] Awarded by Asia Asset Management
[2] Awarded by The Digital Banker for the Global Retail Banking Innovations Award
[3] Awarded by Asia Asset Management
[4] As of 2026, by Asia Asset Management
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SOURCE UOB Asset Management
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