Quantitative Equity Analyst, DMA

Charlotte van Tiddens, CFA

Quantitative Equity Analyst

Technology-First Company

DMA is a technology-first company that provides an end-to-end SaaS solution to institutional investors. DMA enables regulated entities like asset managers, wealth managers, investment managers and financial advisors to connect their front and back office, break silos and reduce headcount.

Event-Driven

<ul><li>Last night the price snapshot was taken for the March 2024 rebalance.</li><li>We do not expect there to be any changes to the Top 40, Top 40 SWIX, FINI, FINDI or INDI.</li><li>EXX is expected to enter the RESI with NPH falling out. </li></ul>

Last night the price snapshot was taken for the March 2024 rebalance.We do not expect there to be any changes to the Top 40, Top 40 SWIX, FINI, FINDI or INDI.EXX is expected to enter the RESI with NPH falling out. 

JSE Mar '24 Rebalance: No T40 or T40 SWIX Changes Expected

Index Rebalance

<ul><li>Indices will be rebalanced at the end of the month on Thursday the 29th of February.</li><li>The three largest additions to the World Index measured by full company market capitalization will be Samsara A (USA), Corebridge Financial (USA) and Applovin Corp A (USA)</li><li>The three largest additions to the Emerging Markets Index measured by full company market capitalization will be Midea Group Co A (HK-C) (China), Punjab National Bank (India) and Union Bank Of India (India)</li></ul>

Indices will be rebalanced at the end of the month on Thursday the 29th of February.The three largest additions to the World Index measured by full company market capitalization will be Samsara A (USA), Corebridge Financial (USA) and Applovin Corp A (USA)The three largest additions to the Emerging Markets Index measured by full company market capitalization will be Midea Group Co A (HK-C) (China), Punjab National Bank (India) and Union Bank Of India (India)

FEB 2024 REBALANCE Index Changes Announced, SA Constituents to Remain the Same

Quantitative Analysis

<ul>
<li>The first phase of the JSE's index harmonisation project will take place at the March rebalance. The vanilla/non-swix index series will be replaced with SWIX exposures.</li>
<li>The SWIX methodology weights all foreign entities by the local/STRATE float (shares sitting on the South African register).</li>
<li>Due to legacy issues, the vanilla/non-swix series (eg. Top 40) weights the Grandfathered group of constituents by their global free floats, upweighting AGL, INP and MNP.</li>
</ul>


The first phase of the JSE's index harmonisation project will take place at the March rebalance. The vanilla/non-swix index series will be replaced with SWIX exposures.
The SWIX methodology weights all foreign entities by the local/STRATE float (shares sitting on the South African register).
Due to legacy issues, the vanilla/non-swix series (eg. Top 40) weights the Grandfathered group of constituents by their global free floats, upweighting AGL, INP and MNP.


JSE Mar '24 Rebalance (Part 1): Index Series to Converge, Passives to Sell AGL, INP, MNP

<ul><li>We do not expect any constituent changes for the following indices: Top 40, Top 40 SWIX, FINI, FINDI or INDI.</li><li>HAR is expected to enter the RESI and AMS is expected to fall out.</li><li>After much anticipation, ANG’s indicative free float came in at 75%, 21.9 percentage points lower than the current SWIX float of 96.8%.</li></ul>

We do not expect any constituent changes for the following indices: Top 40, Top 40 SWIX, FINI, FINDI or INDI.HAR is expected to enter the RESI and AMS is expected to fall out.After much anticipation, ANG’s indicative free float came in at 75%, 21.9 percentage points lower than the current SWIX float of 96.8%.

DMA ONE: JSE December ‘23 Rebalance Rankings

<ul>
<li>JSE indexes will be rebalanced in the closing auction tomorrow. </li>
<li>MCG will fall out of the TOPI and DTOP and HAR will enter. The ALSI gets reviewed semi-annually in March and September.</li>
<li>ACL and LBR will fall out of the ALSI, ALSI SWIX and the capped variants.</li>
</ul>


JSE indexes will be rebalanced in the closing auction tomorrow. 
MCG will fall out of the TOPI and DTOP and HAR will enter. The ALSI gets reviewed semi-annually in March and September.
ACL and LBR will fall out of the ALSI, ALSI SWIX and the capped variants.


South Africa

Anglo American PLC is a global mining company. The Company's mining portfolio includes bulk commodities including iron ore, manganese, and metallurgical coal, base metals including copper and nickel and precious metals and minerals including platinum and diamonds. Anglo American has mining operations in Africa, Europe, North and South America, Asia, and Australia.

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Anglo American (AGL SJ)

JSE Mar '24 Rebalance: No T40 or T40 SWIX Changes Expected

Last night the price snapshot was taken for the March 2024 rebalance. We do not expect there to be any changes to the Top 40, Top 40 SWIX, FINI,...

DMA

FEB 2024 REBALANCE Index Changes Announced, SA Constituents to Remain the Same

Indices will be rebalanced at the end of the month on Thursday the 29th of February. The three largest additions to the World Index measured by...

DMA

JSE Mar '24 Rebalance (Part 1): Index Series to Converge, Passives to Sell AGL, INP, MNP

Understanding why AGL will be sold down at the JSE March rebalance. The vanilla and SWIX indices will converge reducing the number of JSE equity...

DMA

DMA ONE: JSE December ‘23 Rebalance Rankings

The Week Ahead, NPN x PRX discount update post Tencent results, trading statements released after close yesterday. We do not expect any constituent...

DMA

JSE September 2023 Index Rebalance

Top 40 & Top 40 SWIX: HAR to enter, MCG to fall out. NPN/PRX Cross-holding unwind: yesterday's trading session. JSE indexes will be rebalanced...

DMA

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