Brian Freitas

Pan-Asia Index Rebalances/Events/Delta One

Event-Driven

<ul>
<li>There are just 3 trading days to go in the review period for the March rebalance of the S&amp;P/ASX family of indices. There will be plenty of changes.</li>
<li>We see one change for the ASX20, one change for the ASX50, up to four changes for the ASX200 and up to 15 adds/11 deletes for the ASX300.</li>
<li>There will be a large impact from passive trading on quite a few stocks. There will be same way flow on some stocks from the FTSE AW/AC trackers.</li>
</ul>

<ul>
<li>There are two changes for the S&amp;P/ASX20, one change for the S&amp;P/ASX50, four changes to the S&amp;P/ASX 200 (AS51 INDEX), while there are 14 adds/ 9 deletes to the S&amp;P/ASX300. </li>
<li>While we had forecast nearly all the changes, there are a few surprises. The big one's the inclusion of <a href="https://www.smartkarma.com/entities/santos-ltd" target="_blank" data-smartkarma-citation="entities:711:1" rel="noopener">Santos Ltd</a> in the ASX20 and the deletion of <a href="https://www.smartkarma.com/entities/block-inc" target="_blank" data-smartkarma-citation="entities:35684:1" rel="noopener">Block (SQ2 AU)</a>.</li>
<li>Following its huge rally over the last few months, <a href="https://www.smartkarma.com/entities/avz-minerals-ltd" target="_blank" data-smartkarma-citation="entities:6148:1" rel="noopener">AVZ Minerals (AVZ AU)</a> is a double 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</a> and the S&amp;P/ASX300 Index. Plus there are FTSE inflows.</li>
</ul>

<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>

Janaghan Jeyakumar, CFA

Equity Analyst, Event-driven

Quiddity Advisors

<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>

Travis Lundy

Pan-Asia Catalysts/Events

<ul>
<li>
<a href="https://www.smartkarma.com/entities/boral-ltd" target="_blank" data-smartkarma-citation="entities:1487:1" rel="noopener">Boral Ltd (BLD AU)</a> today announced a special dividend and return of capital totalling $2.72/share. That is 46% of yesterday's closing price. </li>
<li>This was not unexpected. Management had promised, media articles had proposed as much. Now it is coming through. </li>
<li>Despite an 11% jump in the forward ex-div price today, the stock is cheap on a FY23 basis.  </li>
</ul>

Australia

James Hardie Industries Plc manufactures building products for new home construction and remodeling.  The Company's products include fiber cement siding, backerboard, and pipe. James Hardie Industries operates in the United States, Australia and New Zealand.

James Hardie Industries Plc - JHX AU

Description