Index Rebalance and Special Situations, Quiddity Advisors

Afridi Reyal

Index Rebalance and Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The SE600 index is one of the most widely followed benchmark indices in Europe. It also acts as a universe for some highly tracked indices.</li>
<li>In this insight, we consider potential index changes that could take place in the December 2026 rebal, along with many M&amp;A deals that could trigger intra-review changes.</li>
<li>We discuss around seven intra-review index changes likely to take place on or before 4Q 2026 and three regular changes during the December 2026 rebal.</li>
</ul>


The SE600 index is one of the most widely followed benchmark indices in Europe. It also acts as a universe for some highly tracked indices.
In this insight, we consider potential index changes that could take place in the December 2026 rebal, along with many M&amp;A deals that could trigger intra-review changes.
We discuss around seven intra-review index changes likely to take place on or before 4Q 2026 and three regular changes during the December 2026 rebal.


Quiddity Leaderboard SE600 Dec26: Multiple Intra-Review Changes Likely

<ul>
<li>In this insight, we look at the potential index changes for the F100 and F250 in the run-up to the December 2026 rebal. The Airtel Money IPO is a question.</li>
<li>Beazley is set to be deleted from the F100 at the close of 30th September 2026. We have discussed the intra-review implications for the F100 and F250.</li>
<li>Airtel Money isn't certain (more below). Currently we see no likely regular changes taking place for F100 or F250 but some names are close to the border. </li>
</ul>


In this insight, we look at the potential index changes for the F100 and F250 in the run-up to the December 2026 rebal. The Airtel Money IPO is a question.
Beazley is set to be deleted from the F100 at the close of 30th September 2026. We have discussed the intra-review implications for the F100 and F250.
Airtel Money isn't certain (more below). Currently we see no likely regular changes taking place for F100 or F250 but some names are close to the border. 


Quiddity Leaderboard F100/F250 Dec26: Beazley F100 DEL 30th Sep; Airtel Money IPO Question

US-EU Index & Corporate Actions Analyst, ORTEX

Harry Kalfas

US-EU Index & Corporate Actions Analyst

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zurich-insurance-group-ag-6200ef7e-59a6-4d82-87df-6dfcaec68274" target="_blank" data-smartkarma-citation="entities:27910:1" rel="noopener">Zurich Insurance Group (ZURN SW)</a> has agreed to acquire <a href="https://www.smartkarma.com/entities/beazley-plc" target="_blank" data-smartkarma-citation="entities:21835:1" rel="noopener">Beazley (BEZ LN)</a> in an all-cash transaction, with Beazley shareholders receiving 1,310 pence per share.</li>
<li>Nuveen has agreed to acquire <a href="https://www.smartkarma.com/entities/schroders-plc" target="_blank" data-smartkarma-citation="entities:22134:1" rel="noopener">Schroders (SDR LN)</a> in an all-cash transaction, with the two deals expected to become effective at the same time on October 1, 2026.</li>
<li>BEZ and SDR will be removed from UK and European indices, with significant passive demand expected for their intra-quarter replacements in UK Top 100 and Europe Top 600.</li>
</ul>



Zurich Insurance Group (ZURN SW) has agreed to acquire Beazley (BEZ LN) in an all-cash transaction, with Beazley shareholders receiving 1,310 pence per share.
Nuveen has agreed to acquire Schroders (SDR LN) in an all-cash transaction, with the two deals expected to become effective at the same time on October 1, 2026.
BEZ and SDR will be removed from UK and European indices, with significant passive demand expected for their intra-quarter replacements in UK Top 100 and Europe Top 600.


Zurich-Beazley and Nuveen-Schroders Deals Near Completion, UK & European Index Replacements Ahead

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

OmniVision Integrated Circuits Group / Technical Analysis

OmniVision Integrated Circuits Group (603501 CH)

<ul>
<li>Our outlook remains bullish on MSCI ACWI. Discussed in Jan9,2025 report how we viewed the pullback as a buying opportunity and were watching for $116-$117 support to hold on ACWI-US. </li>
<li>$116 support held perfectly, and now both ACWI-US and the S&amp;P 500 are coiling just below all-time highs, likely setting up for major breakouts. ACWI is now breaking out.</li>
<li>DXY and 10-Year Treasury yield are both topping, a crucial risk-on signal for global equities. More and more countries breaking out. Actionable Themes: Technology, Services, Communications, Industrials, Gold Miners, Financials</li>
</ul>


Our outlook remains bullish on MSCI ACWI. Discussed in Jan9,2025 report how we viewed the pullback as a buying opportunity and were watching for $116-$117 support to hold on ACWI-US. 
$116 support held perfectly, and now both ACWI-US and the S&amp;P 500 are coiling just below all-time highs, likely setting up for major breakouts. ACWI is now breaking out.
DXY and 10-Year Treasury yield are both topping, a crucial risk-on signal for global equities. More and more countries breaking out. Actionable Themes: Technology, Services, Communications, Industrials, Gold Miners, Financials


More Countries Breaking Out; Bullish Outlook Intact; Buys in China, Europe, More; DXY & Yields Top

<ul>
<li>The September 2026 index review results for the F100 and F250 indices were announced yesterday after the LSE market close.</li>
<li>There will be two ADDs and two DELs for the F100 and separately three ADDs and two DELs for the F250 index.</li>
<li>The announced results were in line with our final expectations.</li>
</ul>


The September 2026 index review results for the F100 and F250 indices were announced yesterday after the LSE market close.
There will be two ADDs and two DELs for the F100 and separately three ADDs and two DELs for the F250 index.
The announced results were in line with our final expectations.


Quiddity F100/F250 Sep26 Results: All Expected ADDs/DELs Correct; F100 Intra-Review Change Ahead

United Kingdom

Schroders is a British multinational asset management company that provides a range of investment products and services across public and private markets. It offers actively managed solutions, mutual funds, segregated accounts, and wealth management services to retail, institutional, and high-net-worth clients globally. The company was founded in 1804 and is headquartered in London, England.

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Schroders (SDR LN)

Quiddity Leaderboard SE600 Dec26: Multiple Intra-Review Changes Likely

SE600 members Beazley and Schroders will be deleted from the index after today's close. We expect Vontobel (VONN SW) and B&M European Value Retail...

Afridi Reyal

Quiddity Leaderboard F100/F250 Dec26: Beazley F100 DEL 30th Sep; Airtel Money IPO Question

F100 members Beazley and Schroders will be deleted from the index following their acquisitions by Zurich and Nuveen respectively. As a result, WPP...

Afridi Reyal

Zurich-Beazley and Nuveen-Schroders Deals Near Completion, UK & European Index Replacements Ahead

Zurich-Beazley and Nuveen-Schroders deals trigger UK and European index removals, creating significant passive demand for the intra-quarter...

Harry Kalfas

More Countries Breaking Out; Bullish Outlook Intact; Buys in China, Europe, More; DXY & Yields Top

More Countries Breaking Out; Bullish Outlook Intact $ACWI $EAFE $EEM. More buys in China; Germany continues to lead Europe higher. Will...

Vermilion Research

Quiddity F100/F250 Sep26 Results: All Expected ADDs/DELs Correct; F100 Intra-Review Change Ahead

The September 2026 index review results for F100 and F250 indices were announced in line with expectations. Volex is expected to have more than 5x...

Afridi Reyal

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Quiddity Leaderboard SE600 Dec26: Multiple Intra-Review Changes Likely

SE600 members Beazley and Schroders will be deleted from the index after today's close. We expect Vontobel (VONN SW) and B&M European Value Retail...

Afridi Reyal

Quiddity Leaderboard F100/F250 Dec26: Beazley F100 DEL 30th Sep; Airtel Money IPO Question

F100 members Beazley and Schroders will be deleted from the index following their acquisitions by Zurich and Nuveen respectively. As a result, WPP...

Afridi Reyal

Zurich-Beazley and Nuveen-Schroders Deals Near Completion, UK & European Index Replacements Ahead

Zurich-Beazley and Nuveen-Schroders deals trigger UK and European index removals, creating significant passive demand for the intra-quarter...

Harry Kalfas

More Countries Breaking Out; Bullish Outlook Intact; Buys in China, Europe, More; DXY & Yields Top

More Countries Breaking Out; Bullish Outlook Intact $ACWI $EAFE $EEM. More buys in China; Germany continues to lead Europe higher. Will...

Vermilion Research

Quiddity F100/F250 Sep26 Results: All Expected ADDs/DELs Correct; F100 Intra-Review Change Ahead

​The September 2026 index review results for F100 and F250 indices were announced in line with expectations. Volex is expected to have more than 5x...

Afridi Reyal

The September 2026 index review results for F100 and F250 indices were announced in line with expectations. Volex is expected to have more than 5x...