Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>The TIP Taiwan Select High Dividend ETF (00919 TW) tracks the TIP Customized Taiwan Select High Dividend Index and has an AUM of TWD 285bn (US$8.75bn).</li>
<li>We forecast 8 changes a side at the December rebalance with an estimated one-way turnover of around 16% and a round-trip trade of around US$2.8bn.</li>
<li>An equal weighted basket of potential inclusions has outperformed an equal weighted basket of potential deletions since the start of July with most of the outperformance coming from September.</li>
</ul>


The TIP Taiwan Select High Dividend ETF (00919 TW) tracks the TIP Customized Taiwan Select High Dividend Index and has an AUM of TWD 285bn (US$8.75bn).
We forecast 8 changes a side at the December rebalance with an estimated one-way turnover of around 16% and a round-trip trade of around US$2.8bn.
An equal weighted basket of potential inclusions has outperformed an equal weighted basket of potential deletions since the start of July with most of the outperformance coming from September.


TIP Customized Taiwan Select High Div Index Rebalance Preview: US$2.8bn Trade as Adds Outperform

Vanguard Intl Semiconductor / Index Rebalance

<ul>
<li>There are 13 changes for the TIP Customized Taiwan Select High Dividend Index in June. The TIP Taiwan Select High Dividend ETF (00919 TW) has an AUM of US$6.4bn.</li>
<li>One-Way turnover is estimated at 41% and that will result in a round-trip trade of TWD 168.8bn (US$5.2bn). There are 16 stocks that could have over 4x ADV to trade.</li>
<li>The rebalance will be implemented over 8 trading days and the ETF has started trading the stocks last week.</li>
</ul>


There are 13 changes for the TIP Customized Taiwan Select High Dividend Index in June. The TIP Taiwan Select High Dividend ETF (00919 TW) has an AUM of US$6.4bn.
One-Way turnover is estimated at 41% and that will result in a round-trip trade of TWD 168.8bn (US$5.2bn). There are 16 stocks that could have over 4x ADV to trade.
The rebalance will be implemented over 8 trading days and the ETF has started trading the stocks last week.


TIP Customized Taiwan Select High Dividend Index Rebalance: 13 Changes & US$5.2bn Round-Trip Trade

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul>
<li>Based in Taiwan, Acter Co is capitalizing on its extensive experience of high-end cleanroom integration, recycling and regeneration systems, electromechanical engineering to generate consistent growth in earnings and cash flow.</li>
<li>Acter Co's dividend yield averaged 8.2% from 2019 to 2022. Its annual dividend payout averaged 76% in the same period. Estimated dividend yield is 7% in 2023. </li>
<li>We found Acter Co Ltd (5536 TT) using Smartkarma's Smart Score Screener system. </li>
</ul>


Based in Taiwan, Acter Co is capitalizing on its extensive experience of high-end cleanroom integration, recycling and regeneration systems, electromechanical engineering to generate consistent growth in earnings and cash flow.
Acter Co's dividend yield averaged 8.2% from 2019 to 2022. Its annual dividend payout averaged 76% in the same period. Estimated dividend yield is 7% in 2023. 
We found Acter Co Ltd (5536 TT) using Smartkarma's Smart Score Screener system. 


Taiwan

Acter Co. Limited designs and constructs of electric and bio-medical high technology facilities. The Company provides services of dustless room construction, maintenance, ventilation, electrical, environmental and chemical managements.

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Acter Co Ltd (5536 TT)

TIP Customized Taiwan Select High Div Index Rebalance Preview: US$2.8bn Trade as Adds Outperform

Announcement of the changes will made post market close today. The potential adds and deletes have performed in line since the end of the review...

Brian Freitas

TIP Customized Taiwan Select High Dividend Index Rebalance: 13 Changes & US$5.2bn Round-Trip Trade

There are 13 changes for the index in June. One-way turnover is estimated at 41% resulting in a round-trip trade of TWD 168.8bn (US$5.2bn). There...

Brian Freitas

Asian Dividend Gems: Acter Co

Based in Taiwan, Acter Co is capitalizing on its extensive experience of high-end cleanroom integration, recycling and regeneration systems, to...

Douglas Kim

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