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>
<a href="https://www.smartkarma.com/entities/core-lithium-ltd" target="_blank" data-smartkarma-citation="entities:14712:1" rel="noopener">Core Lithium Ltd (CXO AU)</a> could be added to the MVIS Global Rare Earth/Strategic Metals Index in June. <a href="https://www.smartkarma.com/entities/lake-resources-nl" target="_blank" data-smartkarma-citation="entities:14597:1" rel="noopener">Lake Resources Nl (LKE AU)</a> is the next highest ranked non-index constituent.</li>
<li>Irrespective of whether there are inclusions, there will be passive selling on <a href="https://www.smartkarma.com/entities/ioneer-ltd" target="_blank" data-smartkarma-citation="entities:10264:1" rel="noopener">ioneer Ltd (INR AU)</a> and <a href="https://www.smartkarma.com/entities/australian-strategic-materials" target="_blank" data-smartkarma-citation="entities:30815:1" rel="noopener">Australian Strategic Materials (ASM AU)</a> due to capping changes to the index constituents.</li>
<li>Inclusions to the index jump post announcement. The review cutoff date is 31 May, so weakness in the potential inclusions could be used to pre-position (if they outperform index constituents).</li>
</ul>



Core Lithium Ltd (CXO AU) could be added to the MVIS Global Rare Earth/Strategic Metals Index in June. Lake Resources Nl (LKE AU) is the next highest ranked non-index constituent.
Irrespective of whether there are inclusions, there will be passive selling on ioneer Ltd (INR AU) and Australian Strategic Materials (ASM AU) due to capping changes to the index constituents.
Inclusions to the index jump post announcement. The review cutoff date is 31 May, so weakness in the potential inclusions could be used to pre-position (if they outperform index constituents).


MVIS Global Rare Earth/​​Strategic Metals Index Rebalance Preview: Potential Adds & Capping Flows

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>The March 2022 regular rebalance constituency changes for ASX 300, ASX 200, ASX 50, and ASX 20 were announced on 4th March 2022.</li>
<li>These constituency changes will be implemented at the close of 18th March 2022 (Friday) and will be effective from the open on 21st March 2022 (Monday). </li>
<li>Below is a discussion on the performance of these candidates so far and our expectation for the next few weeks.</li>
</ul>


The March 2022 regular rebalance constituency changes for ASX 300, ASX 200, ASX 50, and ASX 20 were announced on 4th March 2022.
These constituency changes will be implemented at the close of 18th March 2022 (Friday) and will be effective from the open on 21st March 2022 (Monday). 
Below is a discussion on the performance of these candidates so far and our expectation for the next few weeks.


S&P/ASX Indices: March 2022 Rebalance Update and Post-Inclusion Outlook

<ul>
<li>The S&amp;P/ASX Index family is a widely-tracked group of indices and sub-indices which represent the performance of ASX-listed companies. </li>
<li>The constituency changes for ASX 300, ASX 200, ASX 100, ASX 50, and ASX 20 were announced today.</li>
<li>Below is a discussion of the official results and potential trading strategies to generate market-neutral returns in the run up to the Inclusion Event.</li>
</ul>


The S&amp;P/ASX Index family is a widely-tracked group of indices and sub-indices which represent the performance of ASX-listed companies. 
The constituency changes for ASX 300, ASX 200, ASX 100, ASX 50, and ASX 20 were announced today.
Below is a discussion of the official results and potential trading strategies to generate market-neutral returns in the run up to the Inclusion Event.


S&P/​​​ASX Indices: March 2022 Index Changes and Trading Strategy

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hochtief-ag" target="_blank" data-smartkarma-citation="entities:21652:1" rel="noopener">Hochtief AG (HOT GR)</a> has finally launched an unconditional offer for the rest of <a href="https://www.smartkarma.com/entities/cimic-group-ltd" target="_blank" data-smartkarma-citation="entities:20030:1" rel="noopener">CIMIC Group Ltd (CIM AU)</a> (where it already owns 78.58%).</li>
<li>As <a href="https://www.smartkarma.com/profiles/david-blennerhassett" target="_blank" data-smartkarma-citation="accounts:840" rel="noopener">David Blennerhassett</a> writes in <a href="https://www.smartkarma.com/insights/hochtief-s-unconditional-offer-for-cimic" target="_blank" data-smartkarma-citation="insights:65774" rel="noopener">Hochtief's Unconditional Offer For CIMIC</a>, this should be a done deal. Completion would free up a place in the S&amp;P/ASX200.  </li>
<li>This looks to be one of the earlier Q2 intra-quarter changes, but there are technicalities.</li>
</ul>



Hochtief AG (HOT GR) has finally launched an unconditional offer for the rest of CIMIC Group Ltd (CIM AU) (where it already owns 78.58%).
As David Blennerhassett writes in Hochtief's Unconditional Offer For CIMIC, this should be a done deal. Completion would free up a place in the S&amp;P/ASX200.  
This looks to be one of the earlier Q2 intra-quarter changes, but there are technicalities.


<ul>
<li>Hang Seng announced the results of the March rebalance post market close Friday. Two adds for the HSI, one set of changes for HSCEI, three sets for HSTECH.</li>
<li>An ad hoc rebalance was announced for the KOSDAQ150 following Osstem being designated an 'Administrative Issue'. In IPO world, we have LIC in India and SBI Sumishin NetBank coming up.</li>
<li>Friday was the review cutoff date for the March rebalance of the ASX200 Index. The ATO has provided Aventus with the tax ruling and that creates a timing issue.</li>
</ul>


Hang Seng announced the results of the March rebalance post market close Friday. Two adds for the HSI, one set of changes for HSCEI, three sets for HSTECH.
An ad hoc rebalance was announced for the KOSDAQ150 following Osstem being designated an 'Administrative Issue'. In IPO world, we have LIC in India and SBI Sumishin NetBank coming up.
Friday was the review cutoff date for the March rebalance of the ASX200 Index. The ATO has provided Aventus with the tax ruling and that creates a timing issue.


Index Rebalance & ETF Flow Recap: HSI, HSCEI, HSTECH, HSCI, S&P/ASX, SET50, LIC, SBI Sumishin, Crown

Australia

AVZ Minerals Limited operates as a mineral exploration company. The Company acquires, develops, mines, and produces lithium, tin, tantalum, and other base metals. AVZ Minerals serves customers globally.

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AVZ Minerals (AVZ AU)

MVIS Global Rare Earth/Strategic Metals Index Rebalance Preview: Potential Adds & Capping Flows

Core Lithium could be added to the REMX Index in June. Lake Resources is the next potential add. Both stocks are potential ASX200 adds in June....

Brian Freitas

S&P/ASX Indices: March 2022 Rebalance Update and Post-Inclusion Outlook

A discussion of the performance of the S&P/ASX Index Rebalance candidates for March 2022 and a look at the expectations for performance in the Post...

Janaghan Jeyakumar, CFA

S&P/ASX Indices: March 2022 Index Changes and Trading Strategy

A look at the S&P ASX Index March 2022 index constituent changes and discussion on potential trading strategies to generated market-neutral returns.

Janaghan Jeyakumar, CFA

CIMIC (CIM AU) Replacement in ASX200

CIMIC's takeover by Hochtief triggers another index change in ASX200 - likely sometime in April. This brings forward the first intra-quarter ASX200...

Travis Lundy

Index Rebalance & ETF Flow Recap: HSI, HSCEI, HSTECH, HSCI, S&P/ASX, SET50, LIC, SBI Sumishin, Crown

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

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52-week Range

Market Cap (USDm)

P/E

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MVIS Global Rare Earth/​​Strategic Metals Index Rebalance Preview: Potential Adds & Capping Flows

Core Lithium could be added to the REMX Index in June. Lake Resources is the next potential add. Both stocks are potential ASX200 adds in June....

Brian Freitas

S&P/ASX Indices: March 2022 Rebalance Update and Post-Inclusion Outlook

A discussion of the performance of the S&P/ASX Index Rebalance candidates for March 2022 and a look at the expectations for performance in the Post...

Janaghan Jeyakumar, CFA

S&P/​​​ASX Indices: March 2022 Index Changes and Trading Strategy

A look at the S&P ASX Index March 2022 index constituent changes and discussion on potential trading strategies to generated market-neutral returns.

Janaghan Jeyakumar, CFA

CIMIC (CIM AU) Replacement in ASX200

CIMIC's takeover by Hochtief triggers another index change in ASX200 - likely sometime in April. This brings forward the first intra-quarter ASX200...

Travis Lundy

Index Rebalance & ETF Flow Recap: HSI, HSCEI, HSTECH, HSCI, S&P/ASX, SET50, LIC, SBI Sumishin, Crown

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

MVIS Global Rare Earth/Strategic Metals Index Rebalance Preview: Potential Adds & Capping Flows

S&P/ASX Indices: March 2022 Index Changes and Trading Strategy