Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

A/H Premium Tracker (To 9 May 2025):  AH Premia Fall Small; Spread Torsion Provides Continued Alpha

A/H Premium Tracker (To 16 May 2025):  AH Premia Contract Small Again. BYD and CMB Go Negative.

A/H Premium Tracker (To 23 May 2025):  AH Premia Contract, H Premia Names Perform Best; Batteries!

A/H Premium Tracker (To 25 Apr 2025):  AH Premia Fall Sharply; "Feels" Risk-On But Noisy Spreads

HK Connect SOUTHBOUND Flows (To 2 May 2025); Tech Selling in a Quiet Week

HK Connect SOUTHBOUND Flows (To 25 Apr 2025); First Net Sell in Ages, Led by Heavy SOE Selling

Quiddity Advisors

Event-Driven

Guangzhou Automobile Group / Event-Driven

<ul>
<li>A quiet week as most indices - HK and mainland - saw performance hover around zero for the three days both were open at the start of the week. </li>
<li>For a couple of months I've thought warning signs were flashing and spreads could widen. Widening has paused. I am not comfortable it will remain paused or Hs will outperform.</li>
<li>The Quiddity Portfolio is pretty hunkered down and nearly flat H/A risk. But benefits from spread torsion (wider spreads coming in, small premia widening). Alpha good again this week.</li>
</ul>


A quiet week as most indices - HK and mainland - saw performance hover around zero for the three days both were open at the start of the week. 
For a couple of months I've thought warning signs were flashing and spreads could widen. Widening has paused. I am not comfortable it will remain paused or Hs will outperform.
The Quiddity Portfolio is pretty hunkered down and nearly flat H/A risk. But benefits from spread torsion (wider spreads coming in, small premia widening). Alpha good again this week.


A/H Premium Tracker (To 2 May 2025):  AH Premia Fall Small; Spread Torsion Provides Continued Alpha