Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

NPS Could Raise Allocation of Korean Stocks = KOSPI to 5,000 Soon

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

Korea Stock Exchange Kospi Index / Event-Driven

Korea Stock Exchange Kospi Index (KOSPI INDEX)

<ul>
<li>NPS’s new SMID mandates use a benchmark, an 80/20 mix of the KOSPI Mid+Small Cap (Size Index) and KOSDAQ150, with ~₩500bn total, implying roughly a 20% step-up in mid/small-cap exposure.</li>
<li>March KOSPI large→mid-cap migration could trigger significant passive flows, unlike last September when policy rallies and APR index noise distorted flow–price impact correlation.</li>
<li>NPS compressed its SMID trading window near the effective date, hinting at tighter rebalancing; with ~20% mid-cap exposure bump in March, this could create a notable price impact trade.</li>
</ul>


NPS’s new SMID mandates use a benchmark, an 80/20 mix of the KOSPI Mid+Small Cap (Size Index) and KOSDAQ150, with ~₩500bn total, implying roughly a 20% step-up in mid/small-cap exposure.
March KOSPI large→mid-cap migration could trigger significant passive flows, unlike last September when policy rallies and APR index noise distorted flow–price impact correlation.
NPS compressed its SMID trading window near the effective date, hinting at tighter rebalancing; with ~20% mid-cap exposure bump in March, this could create a notable price impact trade.


NPS Announces New Local SMID Fund Managers: Could Impact March KOSPI Size Index Migration Event