Financial News, Analysis and Data, FNArena

FNArena

Financial News, Analysis and Data

Online financial media company focused on Australian equities, with a global perspective

Equity Bottom-Up

<ul><li>Auguring well for upcoming interim results, Regal Partners has provided a positive quarterly update showing a rebound for funds under management and performance fees.</li><li> -Regal Partners&rsquo; positive June quarter update -FUM and performance fees rebound -Management raises normalised profit guidance -Share price undervalued, suggests Bell Potter</li></ul>

Auguring well for upcoming interim results, Regal Partners has provided a positive quarterly update showing a rebound for funds under management and performance fees. -Regal Partners&rsquo; positive June quarter update -FUM and performance fees rebound -Management raises normalised profit guidance -Share price undervalued, suggests Bell Potter

Regal Partners Recovers Performance Fee Mojo

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Jul 18th (reported today). The aggregated short interest was USD25.3bn.</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 JB Hi-Fi, James Hardie Industries, Amcor, Iluka Resources, National Australia Bank.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Jul 18th (reported today). The aggregated short interest was USD25.3bn.
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 JB Hi-Fi, James Hardie Industries, Amcor, Iluka Resources, National Australia Bank.


ASX Short Interest Weekly (Jul 18th): JB Hi-Fi, James Hardie Industries, Amcor, Iluka Resources

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>On 22 July, <a href="https://www.smartkarma.com/entities/insignia-financial-ltd" target="_blank" data-smartkarma-citation="entities:12349:1" rel="noopener">Insignia Financial (IFL AU)</a> entered a scheme implementation deed with CC Capital at A$4.80, a 4.0% discount to its previous non-binding offer of A$5.00.</li>
<li>The key conditions are regulatory (APRA, FIRB, ACCC, FCA) and shareholder approvals. Shareholders should be supportive as the offer resulted from an auction. </li>
<li>The offer is reasonable in comparison to historical trading ranges, peer multiples and precedent transaction multiples. The timing of regulatory approvals is the key risk.</li>
</ul>


On 22 July, Insignia Financial (IFL AU) entered a scheme implementation deed with CC Capital at A$4.80, a 4.0% discount to its previous non-binding offer of A$5.00.
The key conditions are regulatory (APRA, FIRB, ACCC, FCA) and shareholder approvals. Shareholders should be supportive as the offer resulted from an auction. 
The offer is reasonable in comparison to historical trading ranges, peer multiples and precedent transaction multiples. The timing of regulatory approvals is the key risk.


Insignia Financial (IFL AU): CC Capital’s Binding Offer at A$4.80

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/insignia-financial-ltd" target="_blank" data-smartkarma-citation="entities:12349:1" rel="noopener">Insignia Financial (IFL AU)</a></strong>, a wealth manager and previously known as IOOF, has entered into a Scheme with CC Capital at $A$4.80/share. </li>
<li>That's 56.9% premium to undisturbed (11th December 2024), 20% above Bain's initial indicative tilt last year, but 4% below CC Capital (% Bain's) A$5.00/share indictive Offer on the 7th March.</li>
<li>Apart from the Scheme vote, CC Capital's Offer requires a raft a regulatory approvals. The SID indicates 1H26 completion.</li>
</ul>



Insignia Financial (IFL AU), a wealth manager and previously known as IOOF, has entered into a Scheme with CC Capital at $A$4.80/share. 
That's 56.9% premium to undisturbed (11th December 2024), 20% above Bain's initial indicative tilt last year, but 4% below CC Capital (% Bain's) A$5.00/share indictive Offer on the 7th March.
Apart from the Scheme vote, CC Capital's Offer requires a raft a regulatory approvals. The SID indicates 1H26 completion.


Insignia Financial (IFL AU) Accepts CC Capital's Reduced Terms

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Jul 11th (reported today). The aggregated short interest was USD25.3bn.</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 Santos, Northern Star Resources, Technology One, Orora.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Jul 11th (reported today). The aggregated short interest was USD25.3bn.
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 Santos, Northern Star Resources, Technology One, Orora.


ASX Short Interest Weekly (Jul 11th): Santos, Northern Star Resources, Technology One, Orora

Australia

Platinum Asset Management Limited is a fund management company. The Company specializes in global equities.

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Platinum Asset Management (PTM AU)

Regal Partners Recovers Performance Fee Mojo

Auguring well for upcoming interim results, Regal Partners has provided a positive quarterly update showing a rebound for funds under management...

FNArena

ASX Short Interest Weekly (Jul 18th): JB Hi-Fi, James Hardie Industries, Amcor, Iluka Resources

We analyzed ASX short interest report for the past week and highlight short interest changes in JB Hi-Fi, James Hardie Industries, Amcor, Iluka...

Ke Yan, CFA, FRM

Insignia Financial (IFL AU): CC Capital’s Binding Offer at A$4.80

Timing is the key risk as the offer is long-dated. Shareholders should be supportive as the offer resulted from an auction and the turnaround plan...

Arun George

Insignia Financial (IFL AU) Accepts CC Capital's Reduced Terms

This looks done. Assuming early February completion, I would pay up to A$4.43/share, for a 8.2%/15% gross/annualised return.

David Blennerhassett

ASX Short Interest Weekly (Jul 11th): Santos, Northern Star Resources, Technology One, Orora

We analyzed ASX short interest report for the past week and highlight short interest changes in Santos, Northern Star Resources, Technology One,...

Ke Yan, CFA, FRM

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