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.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hdfc-bank-ltd-4b6b7a92-9087-468d-9dbe-ab169e77f014" target="_blank" data-smartkarma-citation="entities:558:1" rel="noopener">HDFC Bank (HDFCB IN)</a> is the largest buy (XSOE) - estimated flow $44m. <a href="https://www.smartkarma.com/entities/grupo-financiero-banorte-sab-d" target="_blank" data-smartkarma-citation="entities:24780:1" rel="noopener">Grupo Financiero Banorte SAB d (GFNORTEO MF)</a> is the 2nd largest buy - estimated flow $40m.</li>
<li>
<a href="https://www.smartkarma.com/entities/wistron-corp" target="_blank" data-smartkarma-citation="entities:2189:1" rel="noopener">Wistron Corp (3231 TT)</a> is the largest sell - estimated flow $68m. <a href="https://www.smartkarma.com/entities/posco-holdings-inc" target="_blank" data-smartkarma-citation="entities:208:1" rel="noopener">POSCO Holdings (005490 KS)</a> is the 2nd largest sell - estimated flow $59m.</li>
<li>Our estimate for the total value of new constituent buys is $1.38bn. We expect deletions to the value of $1.41bn to be sold down across the 3 funds.</li>
</ul>



HDFC Bank (HDFCB IN) is the largest buy (XSOE) - estimated flow $44m. Grupo Financiero Banorte SAB d (GFNORTEO MF) is the 2nd largest buy - estimated flow $40m.

Wistron Corp (3231 TT) is the largest sell - estimated flow $68m. POSCO Holdings (005490 KS) is the 2nd largest sell - estimated flow $59m.
Our estimate for the total value of new constituent buys is $1.38bn. We expect deletions to the value of $1.41bn to be sold down across the 3 funds.


WisdomTree Oct '23 Rebalance: Estimated Flows for All Adds and Deletes in DEM, XSOE & DGS

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>The Brand-Spanking New (7 weeks old) A-H Monitor has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning in pairs over time, etc.</li>
<li>We used to do it and brought it back better. There are lots of cool interactive tables, and charts, heat maps, and comparative data. And 47 Trade Recommendations.</li>
<li>The last 6 weeks (since the start of the new Monitor and Portfolio 7 weeks ago) have seen net portfolio performance of +0.50%, +1.35%, +0.14%, +0.47%, +0.15%, +0.12%.</li>
</ul>


The Brand-Spanking New (7 weeks old) A-H Monitor has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning in pairs over time, etc.
We used to do it and brought it back better. There are lots of cool interactive tables, and charts, heat maps, and comparative data. And 47 Trade Recommendations.
The last 6 weeks (since the start of the new Monitor and Portfolio 7 weeks ago) have seen net portfolio performance of +0.50%, +1.35%, +0.14%, +0.47%, +0.15%, +0.12%.


Quiddity A/H Premium Weekly (To 22Sep23):  Financials & Communications Dominate Flows

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jf-wealth-holdings" target="_blank" data-smartkarma-citation="entities:36805:1" rel="noopener">JF Wealth Holdings (9636 HK)</a> was listed on 10th March 2023, its one-year lockup will expire on 9th Sept 2023.</li>
<li>The firm had raised around US$129m in its Hong Kong IPO, at the bottom end of its indicative price range.</li>
<li>JF Wealth (JFW) is an online investment decision-making solution provider in China, focusing on the online investor content services market.</li>
</ul>



JF Wealth Holdings (9636 HK) was listed on 10th March 2023, its one-year lockup will expire on 9th Sept 2023.
The firm had raised around US$129m in its Hong Kong IPO, at the bottom end of its indicative price range.
JF Wealth (JFW) is an online investment decision-making solution provider in China, focusing on the online investor content services market.


JF Wealth Lock-Up - At Least US$465m to Be Unlocked, Needs Some Selling to Improve Its Liquidity

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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 119.3% as of Sep 1st.</li>
<li>The average A-H premium changed by 2.6ppt week on week, led by information technology, consumer discretionary, health care and offset by financials, utilities.</li>
<li>We highlight weekly changes in A-H premium for Zhejiang Shiba, Cansino Biolog, Nanjing Panda, China Railway, Hua Hong Semi and Cc Securities.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 119.3% as of Sep 1st.
The average A-H premium changed by 2.6ppt week on week, led by information technology, consumer discretionary, health care and offset by financials, utilities.
We highlight weekly changes in A-H premium for Zhejiang Shiba, Cansino Biolog, Nanjing Panda, China Railway, Hua Hong Semi and Cc Securities.


A-H Premium Weekly (Sep 1st):Zhejiang Shiba, Cansino Biolog, Nanjing Panda, China Railway

<ul>
<li>We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 115.0% as of Jul 28th.</li>
<li>The average A-H premium changed by 0.8ppt week on week, led by information technology, communication services, energy and offset by health care, consumer staples.</li>
<li>We highlight weekly changes in A-H premium for China Vanke, CITIC Sec, China Pacific, BYD, CMOC, GF Sec, CICC.</li>
</ul>


We analyse the changes of A-H premium on 143 stocks over the last week. The average A-H premium was 115.0% as of Jul 28th.
The average A-H premium changed by 0.8ppt week on week, led by information technology, communication services, energy and offset by health care, consumer staples.
We highlight weekly changes in A-H premium for China Vanke, CITIC Sec, China Pacific, BYD, CMOC, GF Sec, CICC.


A-H Premium Weekly (Jul 28th): China Vanke, CITIC Sec, China Pacific, BYD, CMOC, GF Sec, CICC

China

China Galaxy Securities Co., Ltd. provides securities services. The Company provides securities underwriting, securities brokerage, securities investment advisory, securities transaction, and other services. China Galaxy Securities provides its services throughout China.

Price Gauge
52-week Range	0.00 - 0.00
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China Galaxy Securities (H) (6881 HK)

WisdomTree Oct '23 Rebalance: Estimated Flows for All Adds and Deletes in DEM, XSOE & DGS

WisdomTree Oct rebalance (excel sheet with aggregated flow estimates): this insight includes ALL fresh additions to and deletions from DEM, DGS and...

DMA

Quiddity A/H Premium Weekly (To 22Sep23): Financials & Communications Dominate Flows

Quiddity A-H Premia Monitor with interactive tables/charts, and trade recos. Net portfolio performance has been positive every week since re...

Travis Lundy

JF Wealth Lock-Up - At Least US$465m to Be Unlocked, Needs Some Selling to Improve Its Liquidity

JF Wealth Holdings (9636 HK) was listed on 10th March 2023, its one-year lockup will expire on 9th Sept 2023. The firm had raised around US$129m in...

Clarence Chu

A-H Premium Weekly (Sep 1st):Zhejiang Shiba, Cansino Biolog, Nanjing Panda, China Railway

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Zhejiang Shiba, Cansino Biolog, Nanjing Panda, China Railway.

Ke Yan, CFA, FRM

A-H Premium Weekly (Jul 28th): China Vanke, CITIC Sec, China Pacific, BYD, CMOC, GF Sec, CICC

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Vanke, CITIC Sec, China Pacific, BYD, CMOC, GF Sec, CICC.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)