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/ASX50 Index, 3 changes for the S&amp;P/ASX100 Index, 9 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/ASX200 (AS51 INDEX)</a> and 17 adds/ 12 deletes for the S&amp;P/ASX300 Index.</li>
<li>Some of the index changes will also have same way flows from trackers of other global and sector indices on the same day.</li>
<li>The adds have outperformed the deletes across all indices and performance has been especially strong for the S&amp;P/ASX100 Index and S&amp;P/ASX300 Index changes.</li>
</ul>


There is 1 change for the S&amp;P/ASX50 Index, 3 changes for the S&amp;P/ASX100 Index, 9 changes for the S&amp;P/ASX200 (AS51 INDEX) and 17 adds/ 12 deletes for the S&amp;P/ASX300 Index.
Some of the index changes will also have same way flows from trackers of other global and sector indices on the same day.
The adds have outperformed the deletes across all indices and performance has been especially strong for the S&amp;P/ASX100 Index and S&amp;P/ASX300 Index changes.


S&P/​​​​ASX Index Rebalance (Sep 2025): New Methodology & The Many Changes

<ul>
<li>S&amp;P DJI have proposed methodology changes to the S&amp;P/ASX family of indices to enhance representativeness and more quickly reflect changing market conditions. The consultation conclusions could be announced next week.</li>
<li>The updated methodology could lead to 51 changes across the family of indices with implementation on 19 September. There will be a large impact on a number of stocks.</li>
<li>The forecast adds have outperformed the forecast deletes over the last several months and near-term performance has been spectacular 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> and S&amp;P/ASX 300 Index changes.</li>
</ul>


S&amp;P DJI have proposed methodology changes to the S&amp;P/ASX family of indices to enhance representativeness and more quickly reflect changing market conditions. The consultation conclusions could be announced next week.
The updated methodology could lead to 51 changes across the family of indices with implementation on 19 September. There will be a large impact on a number of stocks.
The forecast adds have outperformed the forecast deletes over the last several months and near-term performance has been spectacular for the S&amp;P/ASX 200 (AS51 INDEX) and S&amp;P/ASX 300 Index changes.


S&P/​​​​​​​​​ASX Index Rebalance Preview (Sep 25): Potential Changes if Methodology Is Updated

Director, RaaS Research Group, Research as a Service (RaaS)

RaaS Research Group (RaaS)

Director, RaaS Research Group

Insightful Financial Models and Research Analysis

Research as a Service (RaaS)

Connect to the right investors through smart and insightful financial models and research analysis.

Equity Bottom-Up

<ul><li>RaaS Research Group interviewed Ricegrowers Ltd (trading as SunRice) Group Chief Financial Officer Dimitri Courtelis post the company's FY24 results.</li></ul>

RaaS Research Group interviewed Ricegrowers Ltd (trading as SunRice) Group Chief Financial Officer Dimitri Courtelis post the company's FY24 results.

SunRice (Ricegrowers) Interview Transcript

<ul><li>RaaS has published an update report on agri-FMCG group Ricegrowers, trading as SunRice (ASX:SGLLV), updating our Sum of The Parts (SoTP) valuation as we move from FY24 estimates/consensus data to FY25.</li><li>In moving our consensus valuation year from FY24 to FY25, we look back on selected RaaS peer EPS growth trends over the past four years (FY23a-FY26f inclusive).</li><li>Only four stocks including SGLLV [the others (ASX:TWE), (ASX:RIC) and (SB:EBRO)] have not or are not forecast to have a down year during this period.</li></ul>

RaaS has published an update report on agri-FMCG group Ricegrowers, trading as SunRice (ASX:SGLLV), updating our Sum of The Parts (SoTP) valuation as we move from FY24 estimates/consensus data to FY25.In moving our consensus valuation year from FY24 to FY25, we look back on selected RaaS peer EPS growth trends over the past four years (FY23a-FY26f inclusive).Only four stocks including SGLLV [the others (ASX:TWE), (ASX:RIC) and (SB:EBRO)] have not or are not forecast to have a down year during this period.

Ricegrowers Ltd - Moving valuation to FY25f consensus

<ul>
<li>RaaS has published an update report on agri-FMCG group Ricegrowers, trading as SunRice (ASX:SGLLV) following the announced acquisition of SavourLife, a premium branded dog food manufacturer and distributor for $20.3m.</li>
<li>SavourLife has a unique go-to-market social mission to rehome abandoned dogs and donates 50% of profit to support this cause.</li>
<li>The acquisition price implies 7.3x EBITDA after provision for donations, which is a discount to our assessed peer group average of 9,1x FY24f.</li>
</ul>


RaaS has published an update report on agri-FMCG group Ricegrowers, trading as SunRice (ASX:SGLLV) following the announced acquisition of SavourLife, a premium branded dog food manufacturer and distributor for $20.3m.
SavourLife has a unique go-to-market social mission to rehome abandoned dogs and donates 50% of profit to support this cause.
The acquisition price implies 7.3x EBITDA after provision for donations, which is a discount to our assessed peer group average of 9,1x FY24f.


Ricegrowers Ltd - A branded addition to the CopRice stable

Australia

Ricegrowers Limited, doing business as SunRice, operates as a rice food company. The Company processes and distributes rice products such as rice blends and snacks. SunRice serves customers worldwide.

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Ricegrowers Ltd (SGLLV AU)

S&P/ASX Index Rebalance (Sep 2025): New Methodology & The Many Changes

There are 53 stocks that are adds/deletes across the ASX family of indices. There are some surprises and big flow/impact across the changes. Adds...

Brian Freitas

S&P/ASX Index Rebalance Preview (Sep 25): Potential Changes if Methodology Is Updated

The review period for the September rebalance is done and the proposals in the market consultation will be implemented. That means a lot of change...

Brian Freitas

SunRice (Ricegrowers) Interview Transcript

RaaS Research Group interviewed Ricegrowers Ltd (trading as SunRice) Group Chief Financial Officer Dimitri Courtelis post the company's FY24 results.

Research as a Service (RaaS)

Ricegrowers Ltd - Moving valuation to FY25f consensus

RaaS has published an update report on agri-FMCG group Ricegrowers, trading as SunRice (ASX:SGLLV), updating our Sum of The Parts (SoTP) valuation...

Research as a Service (RaaS)

Ricegrowers Ltd - A branded addition to the CopRice stable

RaaS has published an update report on agri-FMCG group Ricegrowers, trading as SunRice (ASX:SGLLV) following the announced acquisition of SavourLife

Research as a Service (RaaS)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P/​​​​ASX Index Rebalance (Sep 2025): New Methodology & The Many Changes

There are 53 stocks that are adds/deletes across the ASX family of indices. There are some surprises and big flow/impact across the changes. Adds...

Brian Freitas

S&P/​​​​​​​​​ASX Index Rebalance Preview (Sep 25): Potential Changes if Methodology Is Updated

The review period for the September rebalance is done and the proposals in the market consultation will be implemented. That means a lot of change...

Brian Freitas

SunRice (Ricegrowers) Interview Transcript

RaaS Research Group interviewed Ricegrowers Ltd (trading as SunRice) Group Chief Financial Officer Dimitri Courtelis post the company's FY24 results.

Research as a Service (RaaS)

Ricegrowers Ltd - Moving valuation to FY25f consensus

RaaS has published an update report on agri-FMCG group Ricegrowers, trading as SunRice (ASX:SGLLV), updating our Sum of The Parts (SoTP) valuation...

Research as a Service (RaaS)

Ricegrowers Ltd - A branded addition to the CopRice stable

RaaS has published an update report on agri-FMCG group Ricegrowers, trading as SunRice (ASX:SGLLV) following the announced acquisition of SavourLife

Research as a Service (RaaS)

S&P/ASX Index Rebalance (Sep 2025): New Methodology & The Many Changes

S&P/ASX Index Rebalance Preview (Sep 25): Potential Changes if Methodology Is Updated