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>With nearly 80% of the review period complete, there could be 28 adds/deletes across the S&amp;P/ASX family of indices in September.</li>
<li>There is a lot of stocks for passive trackers to trade on the index changes with the largest impacts on the potential changes to the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a>. </li>
<li>The potential adds have outperformed the potential deletions by a LOT over the last few months and continued positioning could lead to further gains.</li>
</ul>


With nearly 80% of the review period complete, there could be 28 adds/deletes across the S&amp;P/ASX family of indices in September.
There is a lot of stocks for passive trackers to trade on the index changes with the largest impacts on the potential changes to the S&amp;P/ASX 200 (AS51 INDEX). 
The potential adds have outperformed the potential deletions by a LOT over the last few months and continued positioning could lead to further gains.


S&P/​​​​​​​​​ASX Index Rebalance Preview: Potential Changes from Now to September

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run-up to the September 2024 index rebal event.</li>
<li>In July 2024, a couple of important Australian M&amp;A deals could close and one of them could trigger intra-review additions for ASX 100 and ASX 200.</li>
<li>Separately, we see one ASX 100 change and one ASX 200 change during the September 2024 rebalance. For ASX 300, there could be 13 ADDs and 6 DELs.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run-up to the September 2024 index rebal event.
In July 2024, a couple of important Australian M&amp;A deals could close and one of them could trigger intra-review additions for ASX 100 and ASX 200.
Separately, we see one ASX 100 change and one ASX 200 change during the September 2024 rebalance. For ASX 300, there could be 13 ADDs and 6 DELs.


Quiddity Leaderboard ASX Sep 24 Rebal: Altium to Trigger Two Intra-Review Replacements in July

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/csr-ltd" target="_blank" data-smartkarma-citation="entities:17380:1" rel="noopener">CSR Ltd (CSR AU)</a> is expected to stop trading on 19 June following the acquisition by <a href="https://www.smartkarma.com/entities/cie-de-saint-gobain" target="_blank" data-smartkarma-citation="entities:21547:1" rel="noopener">Cie De Saint-Gobain (SGO FP)</a>. </li>
<li>
<a href="https://www.smartkarma.com/entities/judo-capital" target="_blank" data-smartkarma-citation="entities:34571:1" rel="noopener">Judo Capital (JDO AU)</a> will be added to the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> at the close on 19 June to replace <a href="https://www.smartkarma.com/entities/csr-ltd" target="_blank" data-smartkarma-citation="entities:17380:1" rel="noopener">CSR Ltd (CSR AU)</a>. </li>
<li>There has been short covering in <a href="https://www.smartkarma.com/entities/judo-capital" target="_blank" data-smartkarma-citation="entities:34571:1" rel="noopener">Judo Capital</a> over the last 3 months and there does not appear to be enough positioning for the index inclusion yet.</li>
</ul>



CSR Ltd (CSR AU) is expected to stop trading on 19 June following the acquisition by Cie De Saint-Gobain (SGO FP). 

Judo Capital (JDO AU) will be added to the S&amp;P/ASX 200 (AS51 INDEX) at the close on 19 June to replace CSR Ltd (CSR AU). 
There has been short covering in Judo Capital over the last 3 months and there does not appear to be enough positioning for the index inclusion yet.


ASX200 Index Adhoc Rebalance: Judo Capital to Replace CSR; Positioning Appears Light

<ul>
<li>There is 1 change for the S&amp;P/ASX20 Index, 1 change for the S&amp;P/ASX50 Index, 2 changes for the S&amp;P/ASX100 Index, and no regular changes for the S&amp;P/ASX200 INDEX in June.</li>
<li>The surprise inclusion of <a href="https://www.smartkarma.com/entities/wisetech-global-ltd" target="_blank" data-smartkarma-citation="entities:22669:1" rel="noopener">Wisetech Global (WTC AU)</a> means that positioning is likely to be lower than the passive buying and there could be a move higher in the stock.</li>
<li>There will be one adhoc inclusion to the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> at the close on 19 June following Cie De Saint-Gobain (SGO FP)'s acquisition of CSR Ltd (CSR AU). </li>
</ul>


There is 1 change for the S&amp;P/ASX20 Index, 1 change for the S&amp;P/ASX50 Index, 2 changes for the S&amp;P/ASX100 Index, and no regular changes for the S&amp;P/ASX200 INDEX in June.
The surprise inclusion of Wisetech Global (WTC AU) means that positioning is likely to be lower than the passive buying and there could be a move higher in the stock.
There will be one adhoc inclusion to the S&amp;P/ASX 200 (AS51 INDEX) at the close on 19 June following Cie De Saint-Gobain (SGO FP)'s acquisition of CSR Ltd (CSR AU). 


S&P/​​​​ASX Index Rebalance (June 2024): Changes, Flows, Impact, Shorts & Positioning

<ul>
<li>The ASX 20/50/100 index changes for the June 2024 index rebal event was announced after market close on Friday 7th June 2024.</li>
<li>In this insight, we take a look at our flow expectations for the ADDs/DELs and the trends in short interest buildup for these names.</li>
<li>Separately, the completion of the <a href="https://www.smartkarma.com/entities/csr-ltd" target="_blank" data-smartkarma-citation="entities:17380:1" rel="noopener">CSR Ltd (CSR AU)</a> M&amp;A deal could trigger an intra-review deletion in June 2024 and the potential replacement name could have very high-impact.</li>
</ul>


The ASX 20/50/100 index changes for the June 2024 index rebal event was announced after market close on Friday 7th June 2024.
In this insight, we take a look at our flow expectations for the ADDs/DELs and the trends in short interest buildup for these names.
Separately, the completion of the CSR Ltd (CSR AU) M&amp;A deal could trigger an intra-review deletion in June 2024 and the potential replacement name could have very high-impact.


Quiddity ASX Jun 24 Rebal: Regular Index Changes + One Potential Intra-Review Replacement

Australia

Codan Limited develops rugged and electronics solutions for international government, corporate, NGO and consumer markets. The company's line of business includes provision of radio communications, metal detection and tracking solutions.

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Codan (CDA AU)

S&P/ASX Index Rebalance Preview: Potential Changes from Now to September

There could be 28 changes for the ASX indices in September with a lot to trade for passive trackers. The adds have outperformed the deletes by a...

Brian Freitas

Quiddity Leaderboard ASX Sep 24 Rebal: Altium to Trigger Two Intra-Review Replacements in July

The LONGs (intra-review ADD candidates TLX, SFR, ZIP, & CDA) have now outperformed the SHORT (ASX 200) by +4.8% since the beginning of July. Based...

Janaghan Jeyakumar, CFA

ASX200 Index Adhoc Rebalance: Judo Capital to Replace CSR; Positioning Appears Light

Judo Capital will replace CSR in the ASX200 at the close on 19 June. There is a lot of JDO stock to be bought by passives and positioning is likely...

Brian Freitas

S&P/ASX Index Rebalance (June 2024): Changes, Flows, Impact, Shorts & Positioning

There is 1 change for the ASX20, 1 change for the ASX50, 2 changes for the ASX100 in June. Codan and Judo Capital are locked in a race to replace...

Brian Freitas

Quiddity ASX Jun 24 Rebal: Regular Index Changes + One Potential Intra-Review Replacement

We see Judo Capital (JDO AU) as the potential ASX 200 intra-review replacement for CSR (CSR AU). Coda (CDA AU) is a close-second.

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P/​​​​​​​​​ASX Index Rebalance Preview: Potential Changes from Now to September

There could be 28 changes for the ASX indices in September with a lot to trade for passive trackers. The adds have outperformed the deletes by a...

Brian Freitas

Quiddity Leaderboard ASX Sep 24 Rebal: Altium to Trigger Two Intra-Review Replacements in July

The LONGs (intra-review ADD candidates TLX, SFR, ZIP, & CDA) have now outperformed the SHORT (ASX 200) by +4.8% since the beginning of July. Based...

Janaghan Jeyakumar, CFA

ASX200 Index Adhoc Rebalance: Judo Capital to Replace CSR; Positioning Appears Light

Judo Capital will replace CSR in the ASX200 at the close on 19 June. There is a lot of JDO stock to be bought by passives and positioning is likely...

Brian Freitas

S&P/​​​​ASX Index Rebalance (June 2024): Changes, Flows, Impact, Shorts & Positioning

There is 1 change for the ASX20, 1 change for the ASX50, 2 changes for the ASX100 in June. Codan and Judo Capital are locked in a race to replace...

Brian Freitas

Quiddity ASX Jun 24 Rebal: Regular Index Changes + One Potential Intra-Review Replacement

We see Judo Capital (JDO AU) as the potential ASX 200 intra-review replacement for CSR (CSR AU). Coda (CDA AU) is a close-second.

Janaghan Jeyakumar, CFA

S&P/ASX Index Rebalance Preview: Potential Changes from Now to September

S&P/ASX Index Rebalance (June 2024): Changes, Flows, Impact, Shorts & Positioning