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>JSE indices were rebalanced in the closing auction on Friday.</li>
<li>Turnover for the day on the JSE was R59.3bn, R44bn traded in the closing auction (74%).</li>
<li>Turnover at the December rebalance was R60bn, where around half traded in the closing auction.</li>
</ul>


JSE indices were rebalanced in the closing auction on Friday.
Turnover for the day on the JSE was R59.3bn, R44bn traded in the closing auction (74%).
Turnover at the December rebalance was R60bn, where around half traded in the closing auction.


<ul>
<li>We expect to see large volumes of AGL, MNP and INP to trade in the closing auction due to the index harmonisation.</li>
<li>Passive trackers and hedgers with exposure to vanilla indices will need to sell down their holdings to transition to the SWIX methodology.</li>
<li>The top buys include: NPN, FSR, SBK, GFI, CPI and PRX.</li>
</ul>


We expect to see large volumes of AGL, MNP and INP to trade in the closing auction due to the index harmonisation.
Passive trackers and hedgers with exposure to vanilla indices will need to sell down their holdings to transition to the SWIX methodology.
The top buys include: NPN, FSR, SBK, GFI, CPI and PRX.


JSE March Rebalance Day: Top Sells AGL, MNP & INP

<ul><li>Indices were rebalanced in the closing auction last week Thursday.</li><li>Turnover on the JSE for the day was R25.6bn, R12.9bn traded in the closing auction (50%).</li><li>Turnover at the November rebalance was R40.6bn. </li></ul>

Indices were rebalanced in the closing auction last week Thursday.Turnover on the JSE for the day was R25.6bn, R12.9bn traded in the closing auction (50%).Turnover at the November rebalance was R40.6bn. 

Feb Rebalance - JSE Auction Analytics (SA Upweighted in ACWI and EM)

Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Quantitative Analysis

<ul>
<li>An overview (and output) of our machine learning-driven GEM screening model, which seeks to find the best medium-term long ideas within the top 100 stocks in the MSCI GEM Index.</li>
<li>The model is based on 1) a quantitative multifactor screening model, enhanced by two AI Technology-based approaches; 2) a Deep Neural Network model, and 3) a Recurrent Neural Network model.</li>
<li>Developed over roughly 4 years and implemented in its current state for over 3 years, the model has a solid real-world alpha-generating performance track record, discussed in detail below.</li>
</ul>


An overview (and output) of our machine learning-driven GEM screening model, which seeks to find the best medium-term long ideas within the top 100 stocks in the MSCI GEM Index.
The model is based on 1) a quantitative multifactor screening model, enhanced by two AI Technology-based approaches; 2) a Deep Neural Network model, and 3) a Recurrent Neural Network model.
Developed over roughly 4 years and implemented in its current state for over 3 years, the model has a solid real-world alpha-generating performance track record, discussed in detail below.


<ul><li>Naspers and Prosus reported H1 FY24 results last week Wednesday before the open.</li><li>No major surprises, all three discounts closed slightly lower. We see room for further narrowing as the consolidated ecommerce businesses approach profitability ahead of the initial target.</li><li>Prosus is still trading below the value of its Tencent stake.</li></ul>

Naspers and Prosus reported H1 FY24 results last week Wednesday before the open.No major surprises, all three discounts closed slightly lower. We see room for further narrowing as the consolidated ecommerce businesses approach profitability ahead of the initial target.Prosus is still trading below the value of its Tencent stake.

NPN X PRX Discount Update + Key Takeaways H1 FY24 Results

South Africa

FirstRand Limited is a portfolio of separately branded, integrated financial services businesses offering a universal set of transactional, lending, investment and insurance products and services in South Africa, certain markets in sub-Saharan Africa and the UK.

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FirstRand (FSR SJ)

JSE Mar24 Rebalance: Auction Analytics

JSE indices were rebalanced in the closing auction on Friday. Turnover for the day on the JSE was R59.3bn, R44bn traded in the closing auction (74%).

DMA

JSE March Rebalance Day: Top Sells AGL, MNP & INP

We expect large volumes of AGL, MNP and INP to trade in the closing auction as the JSE implement Phase 1 of the harmonisation project.

DMA

Feb Rebalance - JSE Auction Analytics (SA Upweighted in ACWI and EM)

Indices were rebalanced in the closing auction last week Thursday. Turnover on the JSE for the day was R25.6bn, R12.9bn traded in the closing...

DMA

Screening for GEMs: March 2024

This insight provides an overview of our, machine learning-driven, proprietary GEM screening model, based on a Multifactor model, a Deep Neural...

Wium Malan, CFA

NPN X PRX Discount Update + Key Takeaways H1 FY24 Results

Naspers and Prosus reported H1 FY24 results last week Wednesday before the open. No major surprises, all three discounts closed slightly lower.

DMA

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