Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Equity Bottom-Up

<ul><li>Hillhouse's Rava buys majority stake in Dash Living with $150M investment plan, expanding its presence in the real estate market. </li><li>Ex-Macquarie exec Robson to advise on ESR privatisation, bringing expertise and strategic guidance to the process. </li><li>Daibiru Corp to acquire Sydney Tower from Investa Fund for $378M, showcasing strong investor interest in Australian real estate.</li></ul>

Hillhouse's Rava buys majority stake in Dash Living with $150M investment plan, expanding its presence in the real estate market. Ex-Macquarie exec Robson to advise on ESR privatisation, bringing expertise and strategic guidance to the process. Daibiru Corp to acquire Sydney Tower from Investa Fund for $378M, showcasing strong investor interest in Australian real estate.

Asia Real Estate Tracker (01-Apr-2025): Hillhouse's Rava invests $150M in Dash Living.

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

Event-Driven

<ul>
<li>Up to 12 stocks could be deleted from global passive portfolios in August. The deletion will lead to liquidity events where trackers will need to sell multiple days of ADV.</li>
<li>There has been a buildup of shorts on nearly all these stocks though the extent of the pre-positioning varies.</li>
<li>The increase in shorts is smaller than the estimated passive selling, though there is a fair amount of variability across the names. </li>
</ul>


Up to 12 stocks could be deleted from global passive portfolios in August. The deletion will lead to liquidity events where trackers will need to sell multiple days of ADV.
There has been a buildup of shorts on nearly all these stocks though the extent of the pre-positioning varies.
The increase in shorts is smaller than the estimated passive selling, though there is a fair amount of variability across the names. 


Japan - Passive Selling in a Few Weeks & Shorts Build Up

<ul>
<li>There are a bunch of stocks that have underperformed the <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225 (NKY INDEX)</a> and their peers and could be deleted from global passive portfolios in August.</li>
<li>The deletion from passive portfolios will lead to a liquidity event at the end of August where passive trackers will need to sell multiple days of ADV.</li>
<li>Shorts have been built up on all the stocks over the last few months and the extent of the positioning varies across stocks.</li>
</ul>


There are a bunch of stocks that have underperformed the Nikkei 225 (NKY INDEX) and their peers and could be deleted from global passive portfolios in August.
The deletion from passive portfolios will lead to a liquidity event at the end of August where passive trackers will need to sell multiple days of ADV.
Shorts have been built up on all the stocks over the last few months and the extent of the positioning varies across stocks.


Japan - Yet Another Big Round of Passive Selling Expected in August

<ul>
<li>There are a bunch of stocks that have underperformed the <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225 (NKY INDEX)</a> and their peers and could be deleted from global passive portfolios in May.</li>
<li>The deletion from passive portfolios will lead to a liquidity event at the end of May where passive trackers will need to sell multiple days of ADV.</li>
<li>Shorts have been built up on all the stocks over the last few months and the extent of the positioning varies across stocks.</li>
</ul>


There are a bunch of stocks that have underperformed the Nikkei 225 (NKY INDEX) and their peers and could be deleted from global passive portfolios in May.
The deletion from passive portfolios will lead to a liquidity event at the end of May where passive trackers will need to sell multiple days of ADV.
Shorts have been built up on all the stocks over the last few months and the extent of the positioning varies across stocks.


Japan - Increase in Shorts & Potential Passive Selling in May

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>
<a href="https://www.smartkarma.com/entities/activia-properties-inc" target="_blank" data-smartkarma-citation="entities:9498:1" rel="noopener">Activia Properties (3279 JP)</a> announced results Wednesday. Higher DPU on better rental income looks to continue next period, but an asset disposal will produce some drag ahead.</li>
<li>Activia Properties also announced a buyback of 10% of ADV for the next four months.</li>
<li>The REIT is slightly cheap to peers. Yield spread to JGBs is high which is good. It needs to be 10% higher to restart accretive equity offerings.</li>
</ul>



Activia Properties (3279 JP) announced results Wednesday. Higher DPU on better rental income looks to continue next period, but an asset disposal will produce some drag ahead.
Activia Properties also announced a buyback of 10% of ADV for the next four months.
The REIT is slightly cheap to peers. Yield spread to JGBs is high which is good. It needs to be 10% higher to restart accretive equity offerings.


Activia Properties (3279) - Short-Term Higher-Impact Buyback on Better Fundamental Results

Japan

NOMURA REAL ESTATE MASTER FUND, INC. is a real estate investment trust (REIT). The Company is formed through merger of Nomura real estate master fund, Nomura real estate office fund, and Nomura real estate residential fund.

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Nomura Real Estate Master Fund (3462 JP)

Asia Real Estate Tracker (01-Apr-2025): Hillhouse's Rava invests $150M in Dash Living.

Rava invests $150M in Dash Living, Robson advises on ESR privatisation, Daibiru buys Sydney Tower for $378M, Integral Real Estate acquires 10...

Asia Real Estate Tracker

Japan - Passive Selling in a Few Weeks & Shorts Build Up

There are a bunch of stocks in Japan that could be sold by passive global investors in August. Shorts have increased on nearly all stocks and the...

Brian Freitas

Japan - Yet Another Big Round of Passive Selling Expected in August

There are a bunch of stocks in Japan that could be sold by passive global investors in August. Shorts have increased on all stocks and the extent...

Brian Freitas

Japan - Increase in Shorts & Potential Passive Selling in May

There are a bunch of stocks in Japan that could be sold by passive global investors in May. Shorts have increased on all stocks and the extent of...

Brian Freitas

Activia Properties (3279) - Short-Term Higher-Impact Buyback on Better Fundamental Results

Activia Properties had good results to November 2023. A large disposal at a loss will drag May earnings down while rental gains will offset. The J...

Travis Lundy

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