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>There is 1 change for the S&amp;P/ASX20 Index, 1 change for the S&amp;P/ASX50 Index, 2 changes for the S&amp;P/ASX100 Index and 2 changes for 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>.</li>
<li>There is between A$30m-A$135m to trade in the index changes and that is between 0.7-16 days of ADV in the stocks. Short interest has jumped in a few stocks.</li>
<li>We expect positioning to be lower than the passive trading in <a href="https://www.smartkarma.com/entities/nick-scali-ltd" target="_blank" data-smartkarma-citation="entities:20803:1" rel="noopener">Nick Scali</a>, <a href="https://www.smartkarma.com/entities/viva-energy-group-ltd" target="_blank" data-smartkarma-citation="entities:27220:1" rel="noopener">Viva Energy Group</a>, <a href="https://www.smartkarma.com/entities/perseus-mining-ltd" target="_blank" data-smartkarma-citation="entities:15306:1" rel="noopener">Perseus Mining</a>, <a href="https://www.smartkarma.com/entities/austal-ltd" target="_blank" data-smartkarma-citation="entities:14420:1" rel="noopener">Austal Ltd</a> and <a href="https://www.smartkarma.com/entities/healius-ltd-6d4d947d-ad32-4aea-b2d8-265f5768b55e" target="_blank" data-smartkarma-citation="entities:14208:1" rel="noopener">Healius</a>.</li>
</ul>


There is 1 change for the S&amp;P/ASX20 Index, 1 change for the S&amp;P/ASX50 Index, 2 changes for the S&amp;P/ASX100 Index and 2 changes for the S&amp;P/ASX 200 (AS51 INDEX).
There is between A$30m-A$135m to trade in the index changes and that is between 0.7-16 days of ADV in the stocks. Short interest has jumped in a few stocks.
We expect positioning to be lower than the passive trading in Nick Scali, Viva Energy Group, Perseus Mining, Austal Ltd and Healius.


S&P/​​​​ASX Index Rebalance (June 2025): Changes, Flows, Shorts & Positioning

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>The ADDs/DELs for the ASX index family for the June 2025 index rebal event were announced after market close on Friday 6th June 2025.</li>
<li>There are 12 index changes collectively for ASX 20, ASX 50, ASX 100, and ASX 200.</li>
<li>In this insight, we take a look at our final flow expectations for each of these confirmed index changes.</li>
</ul>


The ADDs/DELs for the ASX index family for the June 2025 index rebal event were announced after market close on Friday 6th June 2025.
There are 12 index changes collectively for ASX 20, ASX 50, ASX 100, and ASX 200.
In this insight, we take a look at our final flow expectations for each of these confirmed index changes.


Quiddity ASX Jun25 Results: All Expected ADDs/DELs Correct, One Extra ADD/DEL, LONGs up 5% Vs SHORTs

<ul>
<li>In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run-up to the June 2025 index rebal event.</li>
<li>We expect one change for ASX 20, one change for ASX 50, two changes for ASX 100, and one change for ASX 200. </li>
<li>The official index changes will be announced after the close on Friday 6th June 2025.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run-up to the June 2025 index rebal event.
We expect one change for ASX 20, one change for ASX 50, two changes for ASX 100, and one change for ASX 200. 
The official index changes will be announced after the close on Friday 6th June 2025.


Quiddity Leaderboard ASX Jun25: LONGs up 6% Vs SHORTs; Strong Alpha; Reference Period Ending Soon

<ul>
<li>With the review period nearly complete, there could be one change each for the S&amp;P/ASX20 Index, S&amp;P/ASX50 Index and <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX200 INDEX</a> and two changes for the S&amp;P/ASX100 Index in June.</li>
<li>Passive trackers will need to buy between 1-12.5 days of ADV in the forecast adds and sell between 0.6-9.8 days of ADV in the forecast deletes.</li>
<li>While cumulative excess volume has increased in the forecast adds and deletes, there could be underpositioning relative to the estimated passive flow in <a href="https://www.smartkarma.com/entities/perseus-mining-ltd" target="_blank" data-smartkarma-citation="entities:15306:1" rel="noopener">Perseus Mining</a>, <a href="https://www.smartkarma.com/entities/viva-energy-group-ltd" target="_blank" data-smartkarma-citation="entities:27220:1" rel="noopener">Viva Energy</a> and <a href="https://www.smartkarma.com/entities/nick-scali-ltd" target="_blank" data-smartkarma-citation="entities:20803:1" rel="noopener">Nick Scali</a>.</li>
</ul>


With the review period nearly complete, there could be one change each for the S&amp;P/ASX20 Index, S&amp;P/ASX50 Index and S&amp;P/ASX200 INDEX and two changes for the S&amp;P/ASX100 Index in June.
Passive trackers will need to buy between 1-12.5 days of ADV in the forecast adds and sell between 0.6-9.8 days of ADV in the forecast deletes.
While cumulative excess volume has increased in the forecast adds and deletes, there could be underpositioning relative to the estimated passive flow in Perseus Mining, Viva Energy and Nick Scali.


S&P/ASX Index Rebalance Preview (June 2025): 10 Potential Changes Across Indices

<ul>
<li>In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run-up to the June 2025 index rebal event.</li>
<li>We expect one change for ASX 20, one change for ASX 50, two changes for ASX 100, and one change for ASX 200. One month left in the reference period.</li>
<li>Our long basket is up 14% vs shorts in a month. Index Rebal is coming back. ASX Index final index changes will be announced publicly on 6th June 2025.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run-up to the June 2025 index rebal event.
We expect one change for ASX 20, one change for ASX 50, two changes for ASX 100, and one change for ASX 200. One month left in the reference period.
Our long basket is up 14% vs shorts in a month. Index Rebal is coming back. ASX Index final index changes will be announced publicly on 6th June 2025.


Quiddity Leaderboard ASX Jun25: LONGs up +14% Vs SHORTs in a Month; Some Changes to Expectations

Australia

Pinnacle Investment Management Group Limited provides investment management services. The Company offers operational support, insurance, business management, compliance, financial reporting, and accounting services. Pinnacle Investment Management Group conducts its business in Australia.

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Pinnacle Investment Management (PNI AU)

S&P/ASX Index Rebalance (June 2025): Changes, Flows, Shorts & Positioning

There are 12 changes across the ASX family. Flows are big in some stocks and short interest has spiked in a few stocks. Adds have outperformed the...

Brian Freitas

Quiddity ASX Jun25 Results: All Expected ADDs/DELs Correct, One Extra ADD/DEL, LONGs up 5% Vs SHORTs

Our trade ideas have generated strong returns throughout the pre-event phase of the ASX Jun25 index rebal event. However, it might now be time to...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ASX Jun25: LONGs up 6% Vs SHORTs; Strong Alpha; Reference Period Ending Soon

These are our final expectations for the ASX index family for the June 2025 index review. The reference period ended on Friday 23rd May 2025. The...

Janaghan Jeyakumar, CFA

S&P/ASX Index Rebalance Preview (June 2025): 10 Potential Changes Across Indices

There could be 10 changes for the ASX index family in June. Shorts have picked up in a few names. There is positioning in the forecast adds and...

Brian Freitas

Quiddity Leaderboard ASX Jun25: LONGs up +14% Vs SHORTs in a Month; Some Changes to Expectations

Collectively, there could be US$416mn one-way flow for the ASX index family in June 2025. Most of the expected index changes could have multiple...

Janaghan Jeyakumar, CFA

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52-week Range

Market Cap (USDm)

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S&P/​​​​ASX Index Rebalance (June 2025): Changes, Flows, Shorts & Positioning

There are 12 changes across the ASX family. Flows are big in some stocks and short interest has spiked in a few stocks. Adds have outperformed the...

Brian Freitas

Quiddity ASX Jun25 Results: All Expected ADDs/DELs Correct, One Extra ADD/DEL, LONGs up 5% Vs SHORTs

Our trade ideas have generated strong returns throughout the pre-event phase of the ASX Jun25 index rebal event. However, it might now be time to...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ASX Jun25: LONGs up 6% Vs SHORTs; Strong Alpha; Reference Period Ending Soon

These are our final expectations for the ASX index family for the June 2025 index review. The reference period ended on Friday 23rd May 2025. The...

Janaghan Jeyakumar, CFA

S&P/ASX Index Rebalance Preview (June 2025): 10 Potential Changes Across Indices

There could be 10 changes for the ASX index family in June. Shorts have picked up in a few names. There is positioning in the forecast adds and...

Brian Freitas

Quiddity Leaderboard ASX Jun25: LONGs up +14% Vs SHORTs in a Month; Some Changes to Expectations

Collectively, there could be US$416mn one-way flow for the ASX index family in June 2025. Most of the expected index changes could have multiple...

Janaghan Jeyakumar, CFA

S&P/ASX Index Rebalance (June 2025): Changes, Flows, Shorts & Positioning