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 4 July 2025):  "Beautiful Skew" Continues as SB Buys Wide Spread Hs

A/H Premium Tracker (To 11 July 2025):  "Beautiful Skew" Continues - BIG AH Premia Compression

A/H Premium Tracker (To 18 July 2025):  "Beautiful Skew" Continues Some More

HK Connect SOUTHBOUND Flows (To 27 June 2025); Volumes Up, Net Buying Up, Banks Bought, SOEs Sold

A/H Premium Tracker (To 20 June 2025):  Skew Move Continues as SB Buys But AH Premia Rise

HK Connect SOUTHBOUND Flows (To 20 June 2025); Net Buying, Volumes Up, TECH Down, BANKS Bought

Quiddity Advisors

Event-Driven

Guangzhou Automobile Group / Event-Driven

<ul>
<li>AH premia gives back previous week gains but the "beautiful skew" of wide premia converging more than narrow premia continues. It has paid to be long wide H discounts.</li>
<li>It has paid to be long the H on those H/A pairs with the biggest H discounts. I would continue to ride that trend.</li>
<li>The data tables below update on a daily basis in the <a href="https://www.smartkarma.com/tools" target="_blank" rel="noopener">Tools</a> section of Smartkarma. The <a href="https://www.smartkarma.com/tools/quiddity/south-flow-monitor" target="_blank" rel="noopener">SOUTHBOUND Flow Monitor</a> and <a href="https://www.smartkarma.com/tools/quiddity/ah-shares-monitor" target="_blank" rel="noopener">AH Monitor</a> are both there free for SK readers. Technical issue delayed this week's Monitor.</li>
</ul>


AH premia gives back previous week gains but the "beautiful skew" of wide premia converging more than narrow premia continues. It has paid to be long wide H discounts.
It has paid to be long the H on those H/A pairs with the biggest H discounts. I would continue to ride that trend.
The data tables below update on a daily basis in the Tools section of Smartkarma. The SOUTHBOUND Flow Monitor and AH Monitor are both there free for SK readers. Technical issue delayed this week's Monitor.


A/H Premium Tracker (To 27 June 2025):  "Beautiful Skew" Continues as SB Buys, AH Premia Fall Back