Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>The MV Global Rare Earth and Strategic Metals Index (largest ETF is <a href="https://www.smartkarma.com/entities/vaneck-rare-earth-strategic-me" target="_blank" data-smartkarma-citation="entities:32320:1" rel="noopener">VanEck Rare Earth/Strategic Me (REMX US)</a>) announced results Friday. 3 ADDs, No DELs. Capping.  </li>
<li>We see US$411mm to trade one-way and 9.6% turnover across the index.</li>
<li>There's a fair bit of capping and 5 names have more than 1 day of ADV to sell because of that.</li>
</ul>


The MV Global Rare Earth and Strategic Metals Index (largest ETF is VanEck Rare Earth/Strategic Me (REMX US)) announced results Friday. 3 ADDs, No DELs. Capping.  
We see US$411mm to trade one-way and 9.6% turnover across the index.
There's a fair bit of capping and 5 names have more than 1 day of ADV to sell because of that.


[Quiddity Index] MV Global Rare Earth & Strategic Mtls Jun26 Rebal; 3 ADDs, 10.3% T/O, $445mm 1-Way

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

<ul>
<li>Solactive has announced the review results for the Global Lithium Index. There are no constituent changes but there will be capping changes for some stocks.</li>
<li>Estimated one-way turnover is 7.8% and will result in a round-trip trade of US$360m.</li>
<li>The largest inflows are estimated to be in <a href="https://www.smartkarma.com/entities/tesla-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla</a> , <a href="https://www.smartkarma.com/entities/byd-co-ltd-h" target="_blank" data-smartkarma-citation="entities:20962:1" rel="noopener">BYD </a>, <a href="https://www.smartkarma.com/entities/eve-energy-co-ltd" target="_blank" data-smartkarma-citation="entities:14769:1" rel="noopener">EVE Energy</a>, <a href="https://www.smartkarma.com/entities/lg-energy-solution" target="_blank" data-smartkarma-citation="entities:33464:1" rel="noopener">LG Energy Solution</a>, <a href="https://www.smartkarma.com/entities/tdk-corp" target="_blank" data-smartkarma-citation="entities:18847:1" rel="noopener">TDK Corp</a>, <a href="https://www.smartkarma.com/entities/naura-technology-group-co-ltd" target="_blank" data-smartkarma-citation="entities:2333:1" rel="noopener">NAURA Technology Group</a> and <a href="https://www.smartkarma.com/entities/contemporary-amperex-technolog" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">Contemporary Amperex Technology</a>.</li>
</ul>


Solactive has announced the review results for the Global Lithium Index. There are no constituent changes but there will be capping changes for some stocks.
Estimated one-way turnover is 7.8% and will result in a round-trip trade of US$360m.
The largest inflows are estimated to be in Tesla , BYD , EVE Energy, LG Energy Solution, TDK Corp, NAURA Technology Group and Contemporary Amperex Technology.


Solactive Global Lithium Index Rebalance: Capping Changes in April

Contemporary Amperex Technology / Index Rebalance

Contemporary Amperex Technology (3750 HK)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/contemporary-amperex-technology-catl-co-limited" target="_blank" data-smartkarma-citation="entities:45179:1" rel="noopener">CATL (3750 HK)</a> listed in May by selling 135.579m shares (including the Offer Size Adjustment Option) at HK$263/share. The overallotment option of 20.337m shares was also exercised in full.</li>
<li>Nearly 50% of the IPO shares were allotted to cornerstone investors. The lock-up on those investors ends on 19 November. That increases float and will bring in passive flows.</li>
<li>
<a href="https://www.smartkarma.com/entities/contemporary-amperex-technology-catl-co-limited" target="_blank" data-smartkarma-citation="entities:45179:1" rel="noopener">CATL (3750 HK)</a> is trading at a big premium to <a href="https://www.smartkarma.com/entities/contemporary-amperex-technolog" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">CATL (300750 CH)</a> and that could start to move lower as the number of free float shares increases.</li>
</ul>



CATL (3750 HK) listed in May by selling 135.579m shares (including the Offer Size Adjustment Option) at HK$263/share. The overallotment option of 20.337m shares was also exercised in full.
Nearly 50% of the IPO shares were allotted to cornerstone investors. The lock-up on those investors ends on 19 November. That increases float and will bring in passive flows.

CATL (3750 HK) is trading at a big premium to CATL (300750 CH) and that could start to move lower as the number of free float shares increases.


CATL (3750 HK): Cornerstone Lock-Up Expiry, Passive Flows, H/A Premium

<ul>
<li>Solactive has announced the review results for the Global Lithium Index. There are two additions for the index and there will also be capping changes for some stocks.</li>
<li>Estimated one-way turnover is 26.3% and will result in a round-trip trade of US$813m. There are some stocks with over 0.5x ADV to trade.</li>
<li>The index has broken out of the secular downtrend, but investors continue to redeem units from the ETFs tracking the index.</li>
</ul>


Solactive has announced the review results for the Global Lithium Index. There are two additions for the index and there will also be capping changes for some stocks.
Estimated one-way turnover is 26.3% and will result in a round-trip trade of US$813m. There are some stocks with over 0.5x ADV to trade.
The index has broken out of the secular downtrend, but investors continue to redeem units from the ETFs tracking the index.


Solactive Global Lithium Index Rebalance: Two Adds and Capping Changes

<ul>
<li>Solactive has announced the review results for the Global Lithium Index. There are no constituent changes for the index but there will be capping changes for a few stocks.</li>
<li>Estimated one-way turnover is 10.8% and will result in a round-trip trade of US$208m. There are some stocks with over 0.5x ADV to trade.</li>
<li>The index has been in a secular downtrend over the last few years and there have been big redemptions from ETFs tracking the index.</li>
</ul>


Solactive has announced the review results for the Global Lithium Index. There are no constituent changes for the index but there will be capping changes for a few stocks.
Estimated one-way turnover is 10.8% and will result in a round-trip trade of US$208m. There are some stocks with over 0.5x ADV to trade.
The index has been in a secular downtrend over the last few years and there have been big redemptions from ETFs tracking the index.


Solactive Global Lithium Index Rebalance: Passive Flows Next Week

United States

Global X Lithium & Battery Tech ETF is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the price and yield performance of the Solactive Global Lithium Index.

Global X Lithium & Battery Tech ETF (LIT US)

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Global X Lithium & Battery Tech ETF (LIT US)

[Quiddity Index] MV Global Rare Earth & Strategic Mtls Jun26 Rebal; 3 ADDs, 10.3% T/O, $445mm 1-Way

The MV Global Rare Earth and Strategic Metals Index has picked up AUM in the past few years. Now at US$4.3bn. This rebal is US$800mm+ to trade and...

Travis Lundy

Solactive Global Lithium Index Rebalance: Capping Changes in April

There are no constituent changes for the index in April, but there are capping changes. Estimated one-way turnover is 7.8% and will result in a...

Brian Freitas

CATL (3750 HK): Cornerstone Lock-Up Expiry, Passive Flows, H/A Premium

Today is the last day for the CATL cornerstone lock-up. Over 77m H-shares will be available for sale from the open tomorrow. Separately, Huang...

Brian Freitas

Solactive Global Lithium Index Rebalance: Two Adds and Capping Changes

There are 2 adds and capping changes for the Global Lithium Index next week. Estimated one-way turnover is 26.3% and the round-trip trade is...

Brian Freitas

Solactive Global Lithium Index Rebalance: Passive Flows Next Week

There are capping changes for the Global Lithium Index next week. Estimated one-way turnover is 10.8% resulting in a round-trip trade of US$208m....

Brian Freitas

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52-week Range

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