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>There are 6 stocks in Australia that could be deleted from global passive portfolios later this month, though the probability of deletion varies across the stocks. </li>
<li>If deleted, passive trackers will need to sell between US$234m-330m in the stocks. Impact is high at between 7-23 days of ADV.</li>
<li>The potential deletions have underperformed 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> over nearly every time period from 1 week to 3 months. Shorts have increased on all stocks recently.</li>
</ul>


There are 6 stocks in Australia that could be deleted from global passive portfolios later this month, though the probability of deletion varies across the stocks. 
If deleted, passive trackers will need to sell between US$234m-330m in the stocks. Impact is high at between 7-23 days of ADV.
The potential deletions have underperformed the S&amp;P/ASX 200 (AS51 INDEX) over nearly every time period from 1 week to 3 months. Shorts have increased on all stocks recently.


Australia: Last Look at Potential Passive Selling in February

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the March 2025 index rebal event.</li>
<li>We expect two changes for ASX 50, one change for ASX 100, and seven changes for ASX 200. Separately we see 10 ADDs and 8 DELs for ASX 300.</li>
<li>
<a href="https://www.smartkarma.com/entities/sigma-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:15966:1" rel="noopener">Sigma Healthcare (SIG AU)</a> is likely to experience major index inflows in March 2025 if the merger completes as planned.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the March 2025 index rebal event.
We expect two changes for ASX 50, one change for ASX 100, and seven changes for ASX 200. Separately we see 10 ADDs and 8 DELs for ASX 300.

Sigma Healthcare (SIG AU) is likely to experience major index inflows in March 2025 if the merger completes as planned.


Quiddity Leaderboard ASX Mar 25: Several Changes Likely; Major Inflows for Sigma Healthcare

Endeavour Group /Australia / Event-Driven

<ul>
<li>Up to six Aussie stocks could be deleted from global passive portfolios in February. The final list of deletions depends on stock performance over the next 2-3 weeks.</li>
<li>If deleted, passive trackers will need to sell between A$370m-A$500m in the stocks. Impact is high at between 7-24 days of ADV.</li>
<li>The potential deletions have underperformed 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> over every time period from 1 week to 3 months. Positioning is still low in a few stocks.</li>
</ul>


Up to six Aussie stocks could be deleted from global passive portfolios in February. The final list of deletions depends on stock performance over the next 2-3 weeks.
If deleted, passive trackers will need to sell between A$370m-A$500m in the stocks. Impact is high at between 7-24 days of ADV.
The potential deletions have underperformed the S&amp;P/ASX 200 (AS51 INDEX) over every time period from 1 week to 3 months. Positioning is still low in a few stocks.


Australia: Six Stocks in Passive Selling Crosshairs for February

<ul>
<li>The ADDs/DELs for the ASX index family for the December 2024 index rebal event were announced after market close on Friday 6th December 2024.</li>
<li>There will be one ADD/DEL for both ASX 50 and ASX 200. All of these are perfectly in line with our <a href="https://www.smartkarma.com/insights/quiddity-leaderboard-asx-dec-24-few-index-changes-but-high-impact" target="_blank" rel="noopener">final expectations</a>.</li>
<li>In this insight, we take a final look at the flow expectations for each of these index changes.</li>
</ul>


The ADDs/DELs for the ASX index family for the December 2024 index rebal event were announced after market close on Friday 6th December 2024.
There will be one ADD/DEL for both ASX 50 and ASX 200. All of these are perfectly in line with our final expectations.
In this insight, we take a final look at the flow expectations for each of these index changes.


Quiddity ASX Dec 24 Results: 100% Hit Rate; ADDs Have High-Impact; DELs See Short Covering

<ul>
<li>In this insight, we take a look at our final expectations for index changes for ASX200, 100, 50, and 20 in the run-up to the December 2024 index rebal event.</li>
<li>We do not see any index changes for ASX 20 and ASX 100.</li>
<li>We expect one change for ASX 50 and one change for ASX 200.</li>
</ul>


In this insight, we take a look at our final expectations for index changes for ASX200, 100, 50, and 20 in the run-up to the December 2024 index rebal event.
We do not see any index changes for ASX 20 and ASX 100.
We expect one change for ASX 50 and one change for ASX 200.


Quiddity Leaderboard ASX Dec 24: Few Index Changes But High Impact

Australia

Seek Limited operates an Internet website.  The Company offers online employment advertisements and online training in Australia and New Zealand, and offers online employment advertisements in the United Kingdom targeted at Australian and New Zealand job seekers.

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Seek Ltd (SEK AU)

Australia: Last Look at Potential Passive Selling in February

Six Aussie stocks could be sold from global passive portfolios in Feb. If deleted, passives will need to sell between US$234m-330m in the stocks....

Brian Freitas

Quiddity Leaderboard ASX Mar 25: Several Changes Likely; Major Inflows for Sigma Healthcare

We expect there to be a total of 650mn shares to buy from the ASX family during the March 2025 index rebal event. This is roughly US$1.1bn in flow...

Janaghan Jeyakumar, CFA

Australia: Six Stocks in Passive Selling Crosshairs for February

6 Aussie stocks appear in the crosshairs of passive selling in Feb. If deleted, passives will need to sell between A$370m-A$500m in the stocks....

Brian Freitas

Quiddity ASX Dec 24 Results: 100% Hit Rate; ADDs Have High-Impact; DELs See Short Covering

ASX 50 ADD CAR Group (CAR AU) and ASX 200 ADD Clarity Pharma (CU6 AU) are high-impact names with more than 5x ADV to buy.

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ASX Dec 24: Few Index Changes But High Impact

The ASX Dec 24 official index changes will be announced after market close on Friday 6th December 2024 (tomorrow). It is a good time to revisit...

Janaghan Jeyakumar, CFA

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