Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<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 September 2023 Rebalance.</li>
<li>
<a href="https://www.smartkarma.com/entities/blackmores-ltd" target="_blank" data-smartkarma-citation="entities:928:1" rel="noopener">Blackmores Ltd (BKL AU)</a> could get deleted from the index family, triggering intra-review changes in the next few days.</li>
<li>Including the intra-review changes, ASX 300 could see 12 ADDs and 10 DELs, ASX 200 could see 4 changes, and ASX 100 could see one change between now and September.</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 September 2023 Rebalance.

Blackmores Ltd (BKL AU) could get deleted from the index family, triggering intra-review changes in the next few days.
Including the intra-review changes, ASX 300 could see 12 ADDs and 10 DELs, ASX 200 could see 4 changes, and ASX 100 could see one change between now and September.


Quiddity Leaderboard ASX Sep 23: Intra-Review Replacement for BKL and Many Other Expected Changes

<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 September 2023 Rebalance.</li>
<li>I currently expect one change for the ASX 100 index and five changes (including one intra-review change) for the ASX 200 index.</li>
<li>There could be 7 ADDs and 5 DELs for the ASX 300 index.</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 September 2023 Rebalance.
I currently expect one change for the ASX 100 index and five changes (including one intra-review change) for the ASX 200 index.
There could be 7 ADDs and 5 DELs for the ASX 300 index.


Quiddity Leaderboard ASX Sep 23: Many Changes Ahead

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Apr 14th (reported today) which has an aggregated short interest worth USD48.6bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Aurizon, Medibank Private, Coles, Yancoal Australi, Qbe Insurance, Newcrest Mining.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Apr 14th (reported today) which has an aggregated short interest worth USD48.6bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Aurizon, Medibank Private, Coles, Yancoal Australi, Qbe Insurance, Newcrest Mining.


ASX Short Interest Weekly (Apr 14th): Aurizon, Medibank Private, Coles, Yancoal Australi, Qbe

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

<ul>
<li>Changes to the S&amp;P/ASX indices, <a href="https://www.smartkarma.com/entities/vaneck-vectors-rare-earth-strategic-metals-etf" target="_blank" data-smartkarma-citation="entities:32320:1" rel="noopener">VanEck Vectors Rare Earth/Strategic Metals ETF</a>, <a href="https://www.smartkarma.com/entities/vaneck-vectors-junior-gold-miners-etf" target="_blank" data-smartkarma-citation="entities:32845:1" rel="noopener">VanEck Vectors Junior Gold Miners ETF</a>, <a href="https://www.smartkarma.com/entities/vaneck-vectors-aus-equal-wei" target="_blank" data-smartkarma-citation="entities:24297:1" rel="noopener">Vaneck Aus Equal Weight ETF</a>, and other indices will be implemented 17 March.</li>
<li>There are plenty of stocks with multiple days of ADV to trade. Some pre-positioning would have taken place prior to announcement and positions adjusted in the last couple of weeks.</li>
<li>There has been a reversal in stock performance over the last few weeks and short interest has moved a lot in some stocks.</li>
</ul>


Changes to the S&amp;P/ASX indices, VanEck Vectors Rare Earth/Strategic Metals ETF, VanEck Vectors Junior Gold Miners ETF, Vaneck Aus Equal Weight ETF, and other indices will be implemented 17 March.
There are plenty of stocks with multiple days of ADV to trade. Some pre-positioning would have taken place prior to announcement and positions adjusted in the last couple of weeks.
There has been a reversal in stock performance over the last few weeks and short interest has moved a lot in some stocks.


Australia: S&P/​ASX, REMX, GDXJ, MVA, MVW, Other Flows on Friday

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

<ul>
<li>On 2 March, the Court approved the distribution of the <a href="https://www.smartkarma.com/entities/oz-minerals-ltd" target="_blank" data-smartkarma-citation="entities:1138:1" rel="noopener">OZ Minerals Ltd (OZL AU)</a> Scheme Booklet, which was posted on 3 March 2023. The Scheme Meeting is 13 April 2023.</li>
<li>The Independent Expert has concluded the Scheme is Fair and Reasonable and in the best interests of OZL shareholders. Directors unanimously support.</li>
<li>This deal is almost certainly done. The IE report is, as is often the case, enormously informative. Watch the franking credit timing. Not a lot of spread left here. </li>
</ul>


On 2 March, the Court approved the distribution of the OZ Minerals Ltd (OZL AU) Scheme Booklet, which was posted on 3 March 2023. The Scheme Meeting is 13 April 2023.
The Independent Expert has concluded the Scheme is Fair and Reasonable and in the best interests of OZL shareholders. Directors unanimously support.
This deal is almost certainly done. The IE report is, as is often the case, enormously informative. Watch the franking credit timing. Not a lot of spread left here. 


OZL Scheme Booklet Posted - 60 Days to Completion

Australia

Yancoal Australia Ltd. provides mining services. The Company mines, sells, exports, and markets clean and coking coal. Yancoal operates internationally.

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Yancoal Australia (YAL AU)

Quiddity Leaderboard ASX Sep 23: Intra-Review Replacement for BKL and Many Other Expected Changes

Blackmores Ltd could be deleted from the ASX 200 index and Neuren Pharmaceuticals or Ventia could become the replacement. This could be announced...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ASX Sep 23: Many Changes Ahead

ABP's price ratios vs peers are very close to the upper Bollinger bands and have also significantly outperformed the trends in FY+1 and FY+2 EPS...

Janaghan Jeyakumar, CFA

ASX Short Interest Weekly (Apr 14th): Aurizon, Medibank Private, Coles, Yancoal Australi, Qbe

We analyzed ASX short interest report for the past week and highlight short interest changes in Aurizon, Medibank Private, Coles, Yancoal Australi,...

Ke Yan, CFA, FRM

Australia: S&P/ASX, REMX, GDXJ, MVA, MVW, Other Flows on Friday

Implementation of the S&P/ASX, REMX, GDXJ, MVA and other indices take place at the close on Friday. There will be a lot of passive flow going...

Brian Freitas

OZL Scheme Booklet Posted - 60 Days to Completion

The OZL Scheme Booklet is out. Scheme Meeting 13 April. Completion 2 May. IE Report says "Fair and Reasonable", trading at a tight spread. ASX100...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Quiddity Leaderboard ASX Sep 23: Intra-Review Replacement for BKL and Many Other Expected Changes

Blackmores Ltd could be deleted from the ASX 200 index and Neuren Pharmaceuticals or Ventia could become the replacement. This could be announced...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ASX Sep 23: Many Changes Ahead

ABP's price ratios vs peers are very close to the upper Bollinger bands and have also significantly outperformed the trends in FY+1 and FY+2 EPS...

Janaghan Jeyakumar, CFA

ASX Short Interest Weekly (Apr 14th): Aurizon, Medibank Private, Coles, Yancoal Australi, Qbe

We analyzed ASX short interest report for the past week and highlight short interest changes in Aurizon, Medibank Private, Coles, Yancoal Australi,...

Ke Yan, CFA, FRM

Australia: S&P/​ASX, REMX, GDXJ, MVA, MVW, Other Flows on Friday

Implementation of the S&P/ASX, REMX, GDXJ, MVA and other indices take place at the close on Friday. There will be a lot of passive flow going...

Brian Freitas

OZL Scheme Booklet Posted - 60 Days to Completion

The OZL Scheme Booklet is out. Scheme Meeting 13 April. Completion 2 May. IE Report says "Fair and Reasonable", trading at a tight spread. ASX100...

Travis Lundy

Australia: S&P/ASX, REMX, GDXJ, MVA, MVW, Other Flows on Friday