Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

HomeCo Daily Needs REIT / Index Rebalance

<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>In March 2022, Index rebalance events will take place for the S&amp;P/ASX capitalization-weighted indices including ASX 300, ASX 200, ASX 100, ASX 50, and ASX 20. </li>
<li>In this insight, we take a look at the leading candidates who could become Adds/Deletes during the March 2022 Rebalance and other potential irregular changes.</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. 
In March 2022, Index rebalance events will take place for the S&amp;P/ASX capitalization-weighted indices including ASX 300, ASX 200, ASX 100, ASX 50, and ASX 20. 
In this insight, we take a look at the leading candidates who could become Adds/Deletes during the March 2022 Rebalance and other potential irregular changes.


S&P/​​ASX Indices: Quiddity Leaderboard for March 2022 Rebalance (Final)

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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<ul>
<li>Crown and Blackstone have entered a Scheme Implementation Deed under which Blackstone will acquire all shares in Crown Resorts at a cash price of A$13.1/share.</li>
<li>Crown Resorts closed at A$12.64/share on 14 February. Assuming the cash payment is received by mid June , the return is 3.64% absolute and 10.92% annualised.</li>
<li>
<a href="https://www.smartkarma.com/entities/seven-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:803:1" rel="noopener">Seven Group Holdings (SVW AU)</a> could be added to the S&amp;P/ASX 100 Index in May, while the merged HDN AU/ AVN AU entity could 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</a>.</li>
</ul>


Crown and Blackstone have entered a Scheme Implementation Deed under which Blackstone will acquire all shares in Crown Resorts at a cash price of A$13.1/share.
Crown Resorts closed at A$12.64/share on 14 February. Assuming the cash payment is received by mid June , the return is 3.64% absolute and 10.92% annualised.

Seven Group Holdings (SVW AU) could be added to the S&amp;P/ASX 100 Index in May, while the merged HDN AU/ AVN AU entity could be added to the S&amp;P/ASX 200.


Crown Resorts (CWN AU): And Blackstone (Almost) Has It; Index Implications

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ausnet-services" target="_blank" data-smartkarma-citation="entities:10293:1" rel="noopener">Ausnet Services (AST AU)</a> will be deleted from 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> after the close of trading on 4 February and <a href="https://www.smartkarma.com/entities/arena-reit" target="_blank" data-smartkarma-citation="entities:12209:1" rel="noopener">Arena Reit (ARF AU)</a> will be included.</li>
<li>With this change announced, <a href="https://www.smartkarma.com/entities/telix-pharmaceuticals-ltd" target="_blank" data-smartkarma-citation="entities:26052:1" rel="noopener">Telix Pharmaceuticals (TLX AU)</a> is a high probability 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> next week when <a href="https://www.smartkarma.com/entities/sydney-airport" target="_blank" data-smartkarma-citation="entities:19063:1" rel="noopener">Sydney Airport (SYD AU)</a> will be deleted.</li>
<li>
<a href="https://www.smartkarma.com/entities/arena-reit" target="_blank" data-smartkarma-citation="entities:12209:1" rel="noopener">Arena Reit (ARF AU)</a> has outperformed its peers over the last year and now trades at higher valuations. We would use price spikes on inclusion to rotate into its peers.</li>
</ul>



Ausnet Services (AST AU) will be deleted from the S&amp;P/ASX 200 (AS51 INDEX) after the close of trading on 4 February and Arena Reit (ARF AU) will be included.
With this change announced, Telix Pharmaceuticals (TLX AU) is a high probability inclusion to the S&amp;P/ASX 200 (AS51 INDEX) next week when Sydney Airport (SYD AU) will be deleted.

Arena Reit (ARF AU) has outperformed its peers over the last year and now trades at higher valuations. We would use price spikes on inclusion to rotate into its peers.


ASX200 Index Rebalance: Arena REIT to Replace Ausnet

<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>In March 2022, Index rebalance events will take place for the S&amp;P/ASX capitalization-weighted indices including ASX 300, ASX 200, ASX 100, ASX 50, and ASX 20. </li>
<li>In this insight, we take a look at the leading candidates who could become Adds/Deletes during the March 2022 Rebalance and other potential intra-quarterly changes.</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. 
In March 2022, Index rebalance events will take place for the S&amp;P/ASX capitalization-weighted indices including ASX 300, ASX 200, ASX 100, ASX 50, and ASX 20. 
In this insight, we take a look at the leading candidates who could become Adds/Deletes during the March 2022 Rebalance and other potential intra-quarterly changes.


S&P/​ASX Indices: Quiddity Leaderboard for March 2022 Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/aventus-group" target="_blank" data-smartkarma-citation="entities:25897:1" rel="noopener">Aventus Group (AVN AU)</a> securityholders vote on the proposed merger with <a href="https://www.smartkarma.com/entities/homeco-daily-needs-reit" target="_blank" data-smartkarma-citation="entities:33526:1" rel="noopener">HomeCo Daily Needs REIT (HDN AU)</a>/ <a href="https://www.smartkarma.com/entities/home-consortium-ltd" target="_blank" data-smartkarma-citation="entities:29082:1" rel="noopener">Home Consortium Ltd (HMC AU)</a> on 25 January.</li>
<li>If approved, <a href="https://www.smartkarma.com/entities/aventus-group" target="_blank" data-smartkarma-citation="entities:25897:1" rel="noopener">Aventus Group (AVN AU)</a> will stop trading after the close on 3 February and the shares in issue for <a href="https://www.smartkarma.com/entities/homeco-daily-needs-reit" target="_blank" data-smartkarma-citation="entities:33526:1" rel="noopener">HomeCo Daily Needs REIT (HDN AU)</a> will increase substantially.</li>
<li>That will make <a href="https://www.smartkarma.com/entities/homeco-daily-needs-reit" target="_blank" data-smartkarma-citation="entities:33526:1" rel="noopener">HDN AU</a> the highest ranked non-ASX200 constituent and a high probability add for March. There could be an earlier inclusion to replace <a href="https://www.smartkarma.com/entities/sydney-airport" target="_blank" data-smartkarma-citation="entities:19063:1" rel="noopener">SYD AU</a> in the index.</li>
</ul>



Aventus Group (AVN AU) securityholders vote on the proposed merger with HomeCo Daily Needs REIT (HDN AU)/ Home Consortium Ltd (HMC AU) on 25 January.
If approved, Aventus Group (AVN AU) will stop trading after the close on 3 February and the shares in issue for HomeCo Daily Needs REIT (HDN AU) will increase substantially.
That will make HDN AU the highest ranked non-ASX200 constituent and a high probability add for March. There could be an earlier inclusion to replace SYD AU in the index.


HDN/AVN Merger & Potential ASX200 Inclusion in March (Or Earlier)

Australia

HomeCo Daily Needs REIT operates as a real estate investment trust. The Company invests in and manages portfolio of retail assets.

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HomeCo Daily Needs REIT (HDN AU)

S&P/ASX Indices: Quiddity Leaderboard for March 2022 Rebalance (Final)

A final look at the leading candidates who could become Adds/Deletes during the March 2022 Rebalance and other potential irregular changes.

Janaghan Jeyakumar, CFA

Crown Resorts (CWN AU): And Blackstone (Almost) Has It; Index Implications

Crown Resorts and Blackstone have signed a Scheme Implementation Deed. Assuming all approvals are obtained, Crown will be replaced by SVW in the...

Brian Freitas

ASX200 Index Rebalance: Arena REIT to Replace Ausnet

Arena REIT will replace Ausnet in the ASX200 at the close on 4 Feb. That should mean Telix Pharma replaces Sydney Airport at the close on 9 Feb....

Brian Freitas

S&P/ASX Indices: Quiddity Leaderboard for March 2022 Rebalance

A look at the leading candidates who could become Adds/Deletes for the S&P ASX Indices during the March 2022 Rebalance and other potential intra...

Janaghan Jeyakumar, CFA

HDN/AVN Merger & Potential ASX200 Inclusion in March (Or Earlier)

Aventus shareholders vote on the proposed merger with HDN/HMC on 25 Jan. Approval by AVN shareholders will see a huge increase in shares out on HDN...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P/​​ASX Indices: Quiddity Leaderboard for March 2022 Rebalance (Final)

A final look at the leading candidates who could become Adds/Deletes during the March 2022 Rebalance and other potential irregular changes.

Janaghan Jeyakumar, CFA

Crown Resorts (CWN AU): And Blackstone (Almost) Has It; Index Implications

Crown Resorts and Blackstone have signed a Scheme Implementation Deed. Assuming all approvals are obtained, Crown will be replaced by SVW in the...

Brian Freitas

ASX200 Index Rebalance: Arena REIT to Replace Ausnet

Arena REIT will replace Ausnet in the ASX200 at the close on 4 Feb. That should mean Telix Pharma replaces Sydney Airport at the close on 9 Feb....

Brian Freitas

S&P/​ASX Indices: Quiddity Leaderboard for March 2022 Rebalance

A look at the leading candidates who could become Adds/Deletes for the S&P ASX Indices during the March 2022 Rebalance and other potential intra...

Janaghan Jeyakumar, CFA

HDN/AVN Merger & Potential ASX200 Inclusion in March (Or Earlier)

Aventus shareholders vote on the proposed merger with HDN/HMC on 25 Jan. Approval by AVN shareholders will see a huge increase in shares out on HDN...

Brian Freitas

S&P/ASX Indices: Quiddity Leaderboard for March 2022 Rebalance (Final)

S&P/ASX Indices: Quiddity Leaderboard for March 2022 Rebalance