NaaS Technology Secured Investment from TAMP Giant Envestnet's Mutual Fund

Rhea-AI Summary

NaaS Technology Inc. (NAAS) has been included in the investment portfolio of PMC Diversified Equity Fund (PMDEX) in Q4 2023, attracting attention from Envestnet's Quantitative Research Group and other prominent global asset management firms. The company's position in the fast-growing Chinese new energy vehicle market has led to increased interest from institutional investors, climate change-focused ETF funds, and international index companies, signaling its growing global recognition and influence.

Insights

Market Research Analyst

The inclusion of NaaS Technology Inc. within PMC Diversified Equity Fund's portfolio is a strategic move reflecting the fund's confidence in the growth potential of China's EV charging market. This development can be seen as a positive signal for investors, as mutual funds like PMDEX, managed by Envestnet's Quantitative Research Group, are known for their rigorous, data-driven investment approaches. The factor-based investment strategy employed by PMDEX seeks to capitalize on asset pricing factors identified by academic research, suggesting a calculated decision behind the allocation to NaaS.

Investor interest in the Chinese new energy vehicle sector is further underscored by the increased positions of ETFs like the WilderHill Clean Energy ETF and the Fidelity NASDAQ Composite Index Fund. This trend aligns with a broader market shift towards sustainable investments, particularly in industries that contribute to carbon footprint reduction. The inclusion of NaaS in climate change-focused ETFs emphasizes the company's alignment with global sustainability objectives, potentially increasing its appeal to a segment of investors focused on environmental, social and governance (ESG) criteria.

Financial Analyst

The exposure of NaaS Technology Inc. to various indices, such as those by the China Securities Index, Wind Information and BITA, can be interpreted as an indicator of the company's growing market presence and stability. Index inclusion often leads to automatic buying by index-tracking funds, providing a more stable shareholder base and potentially reducing stock price volatility. For stakeholders, this could translate into a more predictable performance and an affirmation of NaaS's business model and market position.

However, it is important for investors to consider the inherent risks associated with the EV charging sector in China, including regulatory changes, competitive pressures and technological advancements. While the current trend indicates a bullish outlook for NaaS, market dynamics can be unpredictable and investors should monitor the company's operational performance and sector-specific developments closely.

Economist

The growing institutional investment in China's EV charging infrastructure, as evidenced by NaaS's portfolio inclusion, can be seen as a reflection of China's economic policy to support and expand its new energy vehicle market. This policy direction is likely to continue driving foreign investment into the sector, which can have a multiplier effect on the country's economy by fostering technology innovation, job creation and infrastructure development. The strategic positioning of NaaS within this burgeoning market suggests potential for long-term growth, contingent on the company's ability to maintain a competitive edge and adapt to policy shifts.

From an economic perspective, the increased activity of institutional investors in sustainable sectors may also signal a broader shift in asset allocation strategies globally. As climate change considerations become more integrated into investment decisions, companies like NaaS may benefit from the resulting capital inflows, assuming they continue to meet performance and sustainability standards set by investors and regulators.

BEIJING, Feb. 2, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced that it has been included within the investment portfolio of PMC Diversified Equity Fund (PMDEX) in the fourth quarter of 2023. According to recently released SEC Form 13F data on US-based institutional investors, PMDEX, a mutual fund under the umbrella of global Turnkey Asset Management Platform (TAMP) giant Envestnet, has turned its attention to China's charging services market.

SEC Form 13F is a quarterly holdings disclosure mandated by the U.S. Securities and Exchange Commission (SEC) for US-based institutional investors managing over $1 billion in equity assets.

Envestnet (ENV.US) is one of the world's largest global TAMP platforms, and Envestnet PMC is part of the company's wealth management solutions business.

Envestnet's Quantitative Research Group (QRG) manages PMDEX using a factor-based approach that aims to give exposure to asset pricing factors that academic research has indicated to be the primary drivers of excess return. PMDEX's allocations to global equities follow PMC's asset class portfolio weightings for an aggressive (i.e., 100% equity) model. The fund has allocated for NaaS within its consumer retail category alongside other prominent companies such as Amazon, Pinduoduo, JD.com, and Alibaba.

The booming Chinese new energy vehicle market has continued to attract institutional attention to NaaS, which is positioned in the fast-growing sector. Notably, the WilderHill Clean Energy ETF (PBW), managed by renowned global asset management firm Invesco, and the Fidelity NASDAQ Composite Index Fund (FNCMX) both increased their positions in NaaS during the fourth quarter of 2023. Additionally, active climate change-focused ETF funds such as Carbon Collective Climate Solutions U.S. Equity ETF (CCSO) and Hanetf Electric Vehicle Charging Infrastructure UCITS ETF (ELEC) have also recently added NaaS to their portfolios.

Moreover, several domestic and international index companies, including the China Securities Index, Wind Information, and BITA, have incorporated NaaS into various indices, signaling NaaS' steadily increasing global recognition and influence.

About NaaS Technology Inc.

NaaS Technology Inc. is the first U.S. listed EV charging service company in China. The Company is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The Company provides one-stop EV charging solutions to charging stations comprising online EV charging, offline EV charging and innovative and other solutions, supporting every stage of the station lifecycle. As of September 30, 2023, NaaS had connected 767,611 chargers covering 73,710 charging stations, representing 41.6% and 50.0% of China's public charging market share respectively.

For investor and media inquiries, please contact:

Investor Relations
NaaS Technology Inc.
E-mail: ir@enaas.com
Media inquiries:
E-mail: pr@enaas.com 

View original content:https://www.prnewswire.com/news-releases/naas-technology-secured-investment-from-tamp-giant-envestnets-mutual-fund-302051937.html

SOURCE NaaS Technology Inc.

FAQ

What is the ticker symbol for NaaS Technology Inc.?

The ticker symbol for NaaS Technology Inc. is NAAS.

Which institutional investor included NaaS in its portfolio in Q4 2023?

PMC Diversified Equity Fund (PMDEX) included NaaS in its investment portfolio in the fourth quarter of 2023.

What is SEC Form 13F and why is it important?

SEC Form 13F is a quarterly holdings disclosure mandated by the U.S. Securities and Exchange Commission (SEC) for US-based institutional investors managing over $1 billion in equity assets. It provides insight into the holdings and investment strategies of institutional investors.

Which asset management firm manages PMDEX?

Envestnet's Quantitative Research Group (QRG) manages PMDEX using a factor-based approach to give exposure to asset pricing factors.

What is the significance of NaaS being included in global ETF funds such as PBW and FNCMX?

The inclusion of NaaS in global ETF funds indicates increased interest and investment in the company from renowned global asset management firms, reflecting its growing influence in the market.

Which international index companies have incorporated NaaS into their indices?

International index companies such as the China Securities Index, Wind Information, and BITA have incorporated NaaS into various indices, signaling its steadily increasing global recognition and influence.