August 22, 2017, 5:42 am
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1 Philippine Peso = 0.07147 UAE Dirham
1 Philippine Peso = 2.19187 Albanian Lek
1 Philippine Peso = 0.03469 Neth Antilles Guilder
1 Philippine Peso = 0.33668 Argentine Peso
1 Philippine Peso = 0.02451 Australian Dollar
1 Philippine Peso = 0.03464 Aruba Florin
1 Philippine Peso = 0.03892 Barbados Dollar
1 Philippine Peso = 1.5756 Bangladesh Taka
1 Philippine Peso = 0.03242 Bulgarian Lev
1 Philippine Peso = 0.00733 Bahraini Dinar
1 Philippine Peso = 33.60051 Burundi Franc
1 Philippine Peso = 0.01946 Bermuda Dollar
1 Philippine Peso = 0.02651 Brunei Dollar
1 Philippine Peso = 0.13349 Bolivian Boliviano
1 Philippine Peso = 0.06121 Brazilian Real
1 Philippine Peso = 0.01946 Bahamian Dollar
1 Philippine Peso = 1.2483 Bhutan Ngultrum
1 Philippine Peso = 0.19907 Botswana Pula
1 Philippine Peso = 389.56996 Belarus Ruble
1 Philippine Peso = 0.03888 Belize Dollar
1 Philippine Peso = 0.02447 Canadian Dollar
1 Philippine Peso = 0.01877 Swiss Franc
1 Philippine Peso = 12.5721 Chilean Peso
1 Philippine Peso = 0.12979 Chinese Yuan
1 Philippine Peso = 58.11442 Colombian Peso
1 Philippine Peso = 11.13232 Costa Rica Colon
1 Philippine Peso = 0.01946 Cuban Peso
1 Philippine Peso = 1.82448 Cape Verde Escudo
1 Philippine Peso = 0.43076 Czech Koruna
1 Philippine Peso = 3.44814 Djibouti Franc
1 Philippine Peso = 0.1229 Danish Krone
1 Philippine Peso = 0.91224 Dominican Peso
1 Philippine Peso = 2.13275 Algerian Dinar
1 Philippine Peso = 0.25874 Estonian Kroon
1 Philippine Peso = 0.34501 Egyptian Pound
1 Philippine Peso = 0.45257 Ethiopian Birr
1 Philippine Peso = 0.01654 Euro
1 Philippine Peso = 0.03921 Fiji Dollar
1 Philippine Peso = 0.0151 Falkland Islands Pound
1 Philippine Peso = 0.01511 British Pound
1 Philippine Peso = 0.08543 Ghanaian Cedi
1 Philippine Peso = 0.87566 Gambian Dalasi
1 Philippine Peso = 172.07628 Guinea Franc
1 Philippine Peso = 0.14152 Guatemala Quetzal
1 Philippine Peso = 3.97957 Guyana Dollar
1 Philippine Peso = 0.15221 Hong Kong Dollar
1 Philippine Peso = 0.45349 Honduras Lempira
1 Philippine Peso = 0.12172 Croatian Kuna
1 Philippine Peso = 1.20354 Haiti Gourde
1 Philippine Peso = 5.01888 Hungarian Forint
1 Philippine Peso = 259.9533 Indonesian Rupiah
1 Philippine Peso = 0.07033 Israeli Shekel
1 Philippine Peso = 1.2483 Indian Rupee
1 Philippine Peso = 22.7087 Iraqi Dinar
1 Philippine Peso = 640.80562 Iran Rial
1 Philippine Peso = 2.08893 Iceland Krona
1 Philippine Peso = 2.47247 Jamaican Dollar
1 Philippine Peso = 0.01374 Jordanian Dinar
1 Philippine Peso = 2.12376 Japanese Yen
1 Philippine Peso = 2.00234 Kenyan Shilling
1 Philippine Peso = 1.33721 Kyrgyzstan Som
1 Philippine Peso = 79.92995 Cambodia Riel
1 Philippine Peso = 8.16852 Comoros Franc
1 Philippine Peso = 17.51314 North Korean Won
1 Philippine Peso = 22.14964 Korean Won
1 Philippine Peso = 0.00587 Kuwaiti Dinar
1 Philippine Peso = 0.01596 Cayman Islands Dollar
1 Philippine Peso = 6.48297 Kazakhstan Tenge
1 Philippine Peso = 161.09555 Lao Kip
1 Philippine Peso = 29.29364 Lebanese Pound
1 Philippine Peso = 2.98307 Sri Lanka Rupee
1 Philippine Peso = 2.22611 Liberian Dollar
1 Philippine Peso = 0.26095 Lesotho Loti
1 Philippine Peso = 0.05932 Lithuanian Lita
1 Philippine Peso = 0.01208 Latvian Lat
1 Philippine Peso = 0.02661 Libyan Dinar
1 Philippine Peso = 0.1842 Moroccan Dirham
1 Philippine Peso = 0.34588 Moldovan Leu
1 Philippine Peso = 1.01323 Macedonian Denar
1 Philippine Peso = 26.52267 Myanmar Kyat
1 Philippine Peso = 47.3633 Mongolian Tugrik
1 Philippine Peso = 0.15677 Macau Pataca
1 Philippine Peso = 7.02471 Mauritania Ougulya
1 Philippine Peso = 0.64623 Mauritius Rupee
1 Philippine Peso = 0.30142 Maldives Rufiyaa
1 Philippine Peso = 13.93073 Malawi Kwacha
1 Philippine Peso = 0.34414 Mexican Peso
1 Philippine Peso = 0.08344 Malaysian Ringgit
1 Philippine Peso = 0.25604 Namibian Dollar
1 Philippine Peso = 7.1006 Nigerian Naira
1 Philippine Peso = 0.58844 Nicaragua Cordoba
1 Philippine Peso = 0.1538 Norwegian Krone
1 Philippine Peso = 1.99066 Nepalese Rupee
1 Philippine Peso = 0.02661 New Zealand Dollar
1 Philippine Peso = 0.00749 Omani Rial
1 Philippine Peso = 0.01946 Panama Balboa
1 Philippine Peso = 0.06301 Peruvian Nuevo Sol
1 Philippine Peso = 0.06168 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.0504 Pakistani Rupee
1 Philippine Peso = 0.07069 Polish Zloty
1 Philippine Peso = 108.34793 Paraguayan Guarani
1 Philippine Peso = 0.07086 Qatar Rial
1 Philippine Peso = 0.07605 Romanian New Leu
1 Philippine Peso = 1.14343 Russian Rouble
1 Philippine Peso = 16.06149 Rwanda Franc
1 Philippine Peso = 0.07297 Saudi Arabian Riyal
1 Philippine Peso = 0.1508 Solomon Islands Dollar
1 Philippine Peso = 0.26075 Seychelles Rupee
1 Philippine Peso = 0.1296 Sudanese Pound
1 Philippine Peso = 0.15772 Swedish Krona
1 Philippine Peso = 0.02651 Singapore Dollar
1 Philippine Peso = 0.01511 St Helena Pound
1 Philippine Peso = 0.43211 Slovak Koruna
1 Philippine Peso = 145.94279 Sierra Leone Leone
1 Philippine Peso = 10.8776 Somali Shilling
1 Philippine Peso = 405.39601 Sao Tome Dobra
1 Philippine Peso = 0.17027 El Salvador Colon
1 Philippine Peso = 10.02102 Syrian Pound
1 Philippine Peso = 0.25583 Swaziland Lilageni
1 Philippine Peso = 0.64604 Thai Baht
1 Philippine Peso = 0.04749 Tunisian Dinar
1 Philippine Peso = 0.04262 Tongan paʻanga
1 Philippine Peso = 0.06846 Turkish Lira
1 Philippine Peso = 0.13124 Trinidad Tobago Dollar
1 Philippine Peso = 0.58973 Taiwan Dollar
1 Philippine Peso = 43.43258 Tanzanian Shilling
1 Philippine Peso = 0.49523 Ukraine Hryvnia
1 Philippine Peso = 69.99416 Ugandan Shilling
1 Philippine Peso = 0.01946 United States Dollar
1 Philippine Peso = 0.55517 Uruguayan New Peso
1 Philippine Peso = 80.17124 Uzbekistan Sum
1 Philippine Peso = 0.19409 Venezuelan Bolivar
1 Philippine Peso = 442.24558 Vietnam Dong
1 Philippine Peso = 2.01985 Vanuatu Vatu
1 Philippine Peso = 0.04832 Samoa Tala
1 Philippine Peso = 10.84141 CFA Franc (BEAC)
1 Philippine Peso = 0.05254 East Caribbean Dollar
1 Philippine Peso = 10.76455 CFA Franc (BCEAO)
1 Philippine Peso = 1.95213 Pacific Franc
1 Philippine Peso = 4.86379 Yemen Riyal
1 Philippine Peso = 0.25581 South African Rand
1 Philippine Peso = 100.98268 Zambian Kwacha
1 Philippine Peso = 7.04223 Zimbabwe dollar

Funds target ‘unknown’ stocks

NEW YORK- With a nearly 30-percent gain in 2017, shares of industrial products maker Handy & Harman Ltd are outpacing hot stocks like Google-parent Alphabet Inc and Visa Inc Yet few on Wall Street have ever heard of the $412-million market-cap company, in large part
because no sell-side research analysts publish any estimates of its earnings.

That lack of information is a boon to Paul Sonkin, a portfolio manager at Gabelli Funds, whose firm owns shares of Handy & Harman. Sonkin estimates approximately 15 percent of the companies in his portfolio have no sell-side analyst coverage, leaving them more likely to be overlooked.

“What we’re looking for is some kind of edge, and if there are fewer analysts covering a stock there’s a greater chance that it will be mispriced,” he said.

Like Sonkin, other fund managers are increasingly turning to small-cap companies with no sell-side coverage, hoping an industry-wide pullback in analyst research will allow them to buy into more ‘unknown’ companies before they get on other investors’ radar.

Top-performing fund managers at Fidelity, Janus Henderson, Hodges Capital and Baron say that the decline in research coverage means that they are seeing more small-cap companies that are mispriced and potentially undervalued, giving firms that have the capacity to conduct
their own research an advantage over the long term.

Overall, the number of companies in the small-cap benchmark Russell 2000 that receive no formal attention from Wall Street research firms has jumped 30 percent over the last 3 years, according to a Reuters analysis.


That cutback has left a broader number of small-cap companies – including household names Tootsie Roll Industries Inc, Revlon Inc, and Ruby Tuesday Inc - essentially a black box for investors without the time or resources to analyze a company. Investors in index funds that track
the Russell 2000, meanwhile, are putting money into firms that few on Wall Street know anything about.

Numerous academic studies have shown that an analyst initiating coverage of a stock pushes share prices higher, in part by improving investor recognition of the company and increasing its liquidity. A study published in Financial Management in 2008 found that stocks that traded
for at least one year without research coverage jumped by an average of 4.8 percent once an analyst began tracking the company.

Investors have little way of knowing in advance when a sell-side brokerage firm will initiate coverage of a company, however, adding the risk that it may be a long time before other portfolio managers recognize a company and boost its shares.

In some ways, the focus on companies with no analyst coverage is an unintended consequence of the index investing boom. Approximately 42 percent of all assets in stock funds are now in passive funds that track indexes, up from 24 percent in 2010, according to the Investment
Company Institute.

With fewer investors buying and selling individual stocks, brokerage firms have been forced to cut research staffs, which had long supplied information about small companies in hopes of generating trading commissions.

Over the last 12 months, brokers such as BB&T, Nomura, and Avondale have shut down whole research divisions, leaving a hole in information that is unlikely to be filled quickly. BCA Research, an independent Montreal-based firm, estimates the total number of analyst reports
being produced will fall by at least 20 percent as investment banks reshape operations to adapt to the popularity of indexing. - Reuters

 
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