Quantitative Equity Analyst, DMA

Charlotte van Tiddens, CFA

Quantitative Equity Analyst

Technology-First Company

DMA is a technology-first company that provides an end-to-end SaaS solution to institutional investors. DMA enables regulated entities like asset managers, wealth managers, investment managers and financial advisors to connect their front and back office, break silos and reduce headcount.

Index Rebalance

Glencore plc is a diversified natural resources company. The Company operates in three groups, metals and minerals, energy products, and agricultural products. Glencore offers its products and services around the world.

<ul>
<li>JSE indices are due for rebalancing in the closing auction on Friday.</li>
<li>GLN will enter the Top 40, with APN falling out (projections sent out on 26 Aug, confirmed by the JSE on Wednesday 3 Sep).</li>
<li>There is quite a bit on the go on the economic calendar this week – FOMC on Wednesday evening, BOE and SARB on Thursday. </li>
</ul>


JSE indices are due for rebalancing in the closing auction on Friday.
GLN will enter the Top 40, with APN falling out (projections sent out on 26 Aug, confirmed by the JSE on Wednesday 3 Sep).
There is quite a bit on the go on the economic calendar this week – FOMC on Wednesday evening, BOE and SARB on Thursday. 


JSE September ’25 Rebalance: GLN to Enter Top 40, APN to Be Deleted

<ul><li>Last night, the price snapshot was taken for the JSE September 2025 rebalance.</li><li>GLN is expected to enter the Top 40 index, with APN falling out.</li><li>No changes are expected for the FINDI, FINI, INDI or RESI indices.</li></ul>

Last night, the price snapshot was taken for the JSE September 2025 rebalance.GLN is expected to enter the Top 40 index, with APN falling out.No changes are expected for the FINDI, FINI, INDI or RESI indices.

JSE Sep ‘25 Rebalance: GLN Expected to Enter Top 40, APN to Fall Out

Pepkor Holdings Ltd is a retailer, focused on customers in the defensive discount and value retail segments. The Company's product range is biased towards basic products and services including apparel, general merchandise, cellular, financial services products, household goods and building materials.

<ul>
<li>Following Ibex’s disposal of its 28% stake in Pepcor earlier this week, Pepcor (PPH) will be upweighted in the closing auction today.</li>
<li>PPH’s free float will increase to 99.82% from 71.61%. Passive funds and hedgers will need to increase their exposure by between 37 and 47bps.</li>
<li>In addition, active managers looking to maintain their active positioning would need to buy PPH, failure to do so would result in an underweight of 39bps (assuming a Capped ALSI benchmark and an active weight of 0%).</li>
</ul>


Following Ibex’s disposal of its 28% stake in Pepcor earlier this week, Pepcor (PPH) will be upweighted in the closing auction today.
PPH’s free float will increase to 99.82% from 71.61%. Passive funds and hedgers will need to increase their exposure by between 37 and 47bps.
In addition, active managers looking to maintain their active positioning would need to buy PPH, failure to do so would result in an underweight of 39bps (assuming a Capped ALSI benchmark and an active weight of 0%).


JSE Indexation Research: PPH to Be Upweighted in Closing Auction Today, PPH Rebalance Yesterday

Northam Platinum Holdings  / Index Rebalance

Northam Platinum Holdings Limited operates as a holding company. The Company, through its subsidiaries, explores, mines, and produces platinum, palladium, and rhodium metals. Northam Platinum Holdings serves customers worldwide.

<ul><li>JSE indices are due for rebalancing in the closing auction tomorrow.                              </li><li>NPH will enter the Top 40, with GLN falling out. </li><li>GLN will also fall out of the RESI 10, with NPH entering.</li></ul>

JSE indices are due for rebalancing in the closing auction tomorrow.                              NPH will enter the Top 40, with GLN falling out. GLN will also fall out of the RESI 10, with NPH entering.

FTSE/JSE June 2025 Rebalance: GLN to Fall Out of Top 40, NPH to Enter

Anglo American Platinum  / Index Rebalance

Anglo American Platinum Limited is the holding company for a group of companies which operate platinum mines.  In addition to platinum, the Group mines and produces platinum group metals such as palladium, rhodium, iridium, ruthenium, osmium, nickel, copper, and cobalt.

<ul>
<li>JSE indices will be rebalanced in the closing auction on Thursday. JSE equity derivatives close out at midday as well – a reminder to get those rolls in.</li>
<li>AMS will enter the Top 40 with EXX falling out. AHR, BOX &amp; SRI will enter the ALSI index, with RBO falling out.</li>
<li>The ALSI is made up of constituents in the small, mid and large cap indices and constituents are reviewed semi-annually in March and September.</li>
</ul>


JSE indices will be rebalanced in the closing auction on Thursday. JSE equity derivatives close out at midday as well – a reminder to get those rolls in.
AMS will enter the Top 40 with EXX falling out. AHR, BOX &amp; SRI will enter the ALSI index, with RBO falling out.
The ALSI is made up of constituents in the small, mid and large cap indices and constituents are reviewed semi-annually in March and September.


JSE Mar25 Rebalance: AMS to Enter Top 40, EXX to Fall Out, BOX Second Largest ALSI Buy

Quant Analyst at DMA. DMA is a technology-first company that provides an end-to-end SaaS solution to institutional investors. DMA enables regulated entities like asset managers, wealth managers, investment managers and financial advisors to connect their front and back office, break silos and reduce headcount.