Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Jun 6th (reported yesterday). The aggregated short interest was USD27.4bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in IDP Education, Sigma Pharmaceuticals, Evolution Mining, CSL.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Jun 6th (reported yesterday). The aggregated short interest was USD27.4bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in IDP Education, Sigma Pharmaceuticals, Evolution Mining, CSL.


ASX Short Interest Weekly (Jun 6th): IDP Education, Sigma Pharmaceuticals, Evolution Mining, CSL

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>Australia’s active global fund ownership has dropped to record lows of 38.55%, with average weight halving from pre-2020 levels. </li>
<li>Major underweights persist across Financials, especially the four big banks at record-low ownership levels. </li>
<li>Insurance names like QBE and Suncorp see modest rebounds, but Australia remains stuck between growth and value headwinds.</li>
</ul>


Australia’s active global fund ownership has dropped to record lows of 38.55%, with average weight halving from pre-2020 levels. 
Major underweights persist across Financials, especially the four big banks at record-low ownership levels. 
Insurance names like QBE and Suncorp see modest rebounds, but Australia remains stuck between growth and value headwinds.


Australia: Strategic Underweights & Ownership Lows

Quantitative Researcher, MRM Research

Nico Rosti

Quantitative Researcher

MRM Research

Quantitative Research

Equity Derivatives

<ul>
<li>This week 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 INDEX</a> entered WEEKLY OVERBOUGHT status intra-week, peaking at 8384.50, then pulling back to 8283.20 at Close.</li>
<li>In this insight we will examine resistance levels the index will have a hard time to clear, without pulling back first at least 1 week.</li>
<li>According to our quantitative models, a pullback is highly likely to happen this week, or the next.</li>
</ul>


This week the S&amp;P/ASX 200 INDEX entered WEEKLY OVERBOUGHT status intra-week, peaking at 8384.50, then pulling back to 8283.20 at Close.
In this insight we will examine resistance levels the index will have a hard time to clear, without pulling back first at least 1 week.
According to our quantitative models, a pullback is highly likely to happen this week, or the next.


EQD | Upcoming ASX200 Pullback in 1-2 Weeks

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Oct 11th (reported today) which has an aggregated short interest worth USD27.0bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Insurance Australia, Computershare, Goodman, Sigma Pharmaceuticals.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 11th (reported today) which has an aggregated short interest worth USD27.0bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Insurance Australia, Computershare, Goodman, Sigma Pharmaceuticals.


ASX Short Interest Weekly (Oct 11th): Insurance Australia, Computershare, Goodman

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/pro-medicus-ltd" target="_blank" data-smartkarma-citation="entities:13516:1" rel="noopener">Pro Medicus Ltd (PME AU)</a> will be added to the MV Australia Equal Weight Index while <a href="https://www.smartkarma.com/entities/igo-ltd" target="_blank" data-smartkarma-citation="entities:462:1" rel="noopener">IGO Ltd (IGO AU)</a> and <a href="https://www.smartkarma.com/entities/nib-holdings-ltd" target="_blank" data-smartkarma-citation="entities:7063:1" rel="noopener">nib holdings (NHF AU)</a> will be deleted.</li>
<li>Constituent changes, float changes and capping changes result in a one-way turnover of 6.9% leading to a round-trip trade of A$330m.</li>
<li>Shorts are pretty big in <a href="https://www.smartkarma.com/entities/pro-medicus-ltd" target="_blank" data-smartkarma-citation="entities:13516:1" rel="noopener">Pro Medicus Ltd (PME AU)</a> while there has been a recent spike in short interest for <a href="https://www.smartkarma.com/entities/igo-ltd" target="_blank" data-smartkarma-citation="entities:462:1" rel="noopener">IGO Ltd (IGO AU)</a>. </li>
</ul>



Pro Medicus Ltd (PME AU) will be added to the MV Australia Equal Weight Index while IGO Ltd (IGO AU) and nib holdings (NHF AU) will be deleted.
Constituent changes, float changes and capping changes result in a one-way turnover of 6.9% leading to a round-trip trade of A$330m.
Shorts are pretty big in Pro Medicus Ltd (PME AU) while there has been a recent spike in short interest for IGO Ltd (IGO AU). 


MV Australia Equal Weight Index Rebalance: One Add, Two Deletes, Capping to Drive Flow

Australia

Insurance Australia Group Limited (IAG) is an Australian-based international general insurance group with operations in Australia, New Zealand, and Asia. The Group provides a range of personal and commercial insurance products, primarily motor vehicle and home insurance.

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Insurance Australia (IAG AU)

ASX Short Interest Weekly (Jun 6th): IDP Education, Sigma Pharmaceuticals, Evolution Mining, CSL

We analyzed ASX short interest report for the past week and highlight short interest changes in IDP Education, Sigma Pharmaceuticals, Evolution...

Ke Yan, CFA, FRM

Australia: Strategic Underweights & Ownership Lows

Australia is the third largest country underweight globally, with outright ownership hitting record lows. Financials are heavily underweight;...

Steven Holden

EQD | Upcoming ASX200 Pullback in 1-2 Weeks

The ASX 200 INDEX has entered WEEKLY-overbought status, it is going to pull back in the next 1-2 weeks, but the overall trend appears healthy....

Nico Rosti

ASX Short Interest Weekly (Oct 11th): Insurance Australia, Computershare, Goodman

We analyzed ASX short interest report for the past week and highlight short interest changes in Insurance Australia, Computershare, Goodman, Sigma...

Ke Yan, CFA, FRM

MV Australia Equal Weight Index Rebalance: One Add, Two Deletes, Capping to Drive Flow

PME is an add. NHF and IGO are deletes. Constituent changes, float changes and capping changes result in a one-way turnover of 6.9% leading to a...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ASX Short Interest Weekly (Jun 6th): IDP Education, Sigma Pharmaceuticals, Evolution Mining, CSL

We analyzed ASX short interest report for the past week and highlight short interest changes in IDP Education, Sigma Pharmaceuticals, Evolution...

Ke Yan, CFA, FRM

Australia: Strategic Underweights & Ownership Lows

Australia is the third largest country underweight globally, with outright ownership hitting record lows. Financials are heavily underweight;...

Steven Holden

EQD | Upcoming ASX200 Pullback in 1-2 Weeks

​The ASX 200 INDEX has entered WEEKLY-overbought status, it is going to pull back in the next 1-2 weeks, but the overall trend appears healthy....

Nico Rosti

ASX Short Interest Weekly (Oct 11th): Insurance Australia, Computershare, Goodman

We analyzed ASX short interest report for the past week and highlight short interest changes in Insurance Australia, Computershare, Goodman, Sigma...

Ke Yan, CFA, FRM

MV Australia Equal Weight Index Rebalance: One Add, Two Deletes, Capping to Drive Flow

PME is an add. NHF and IGO are deletes. Constituent changes, float changes and capping changes result in a one-way turnover of 6.9% leading to a...

Brian Freitas

The ASX 200 INDEX has entered WEEKLY-overbought status, it is going to pull back in the next 1-2 weeks, but the overall trend appears healthy....