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

Wuestenrot & Wuerttembergische / Event-Driven

<ul>
<li>The March 2023 index changes for the DAX index family were confirmed after the close on Friday 3rd March 2023.</li>
<li>There will be one change for DAX, two for MDAX, and two for SDAX mostly in line with our expectations. Separately, there is also a change in TecDAX.</li>
<li>In this insight, we take a closer look at our expectations for index flows and the recent price and volume performance of the names involved in the index rebalance event.</li>
</ul>


The March 2023 index changes for the DAX index family were confirmed after the close on Friday 3rd March 2023.
There will be one change for DAX, two for MDAX, and two for SDAX mostly in line with our expectations. Separately, there is also a change in TecDAX.
In this insight, we take a closer look at our expectations for index flows and the recent price and volume performance of the names involved in the index rebalance event.


Quiddity Flow Expectations for DAX Mar 23 Rebal: WUW GR Vs SDAX Seems Interesting

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELETEs for the DAX, MDAX, and SDAX Indices.</li>
<li>In the March 2023 review, I do not see any changes for the DAX index although a couple names are close to the border.</li>
<li>As it stands, I currently expect two more changes between MDAX and SDAX and one more ADD/DEL for the SDAX index based on the latest available data.</li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELETEs for the DAX, MDAX, and SDAX Indices.
In the March 2023 review, I do not see any changes for the DAX index although a couple names are close to the border.
As it stands, I currently expect two more changes between MDAX and SDAX and one more ADD/DEL for the SDAX index based on the latest available data.


Quiddity Leaderboard for DAX Mar 23: Linde DEL Triggers US$2.7bn Reverse Funding Flows

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELETEs for the DAX, MDAX, and SDAX Indices.</li>
<li>
<a href="https://www.smartkarma.com/entities/vantage-towers-ag" target="_blank" data-smartkarma-citation="entities:35602:1" rel="noopener">Vantage Towers (VTWR GR)</a> is currently undergoing a Tender Offer and this <em>could</em> have interesting index consequences over the next few weeks.</li>
<li>As it stands, there seems to be one change between MDAX and SDAX and there are multiple names hovering close to the border for DAX, MDAX, and SDAX.</li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELETEs for the DAX, MDAX, and SDAX Indices.

Vantage Towers (VTWR GR) is currently undergoing a Tender Offer and this could have interesting index consequences over the next few weeks.
As it stands, there seems to be one change between MDAX and SDAX and there are multiple names hovering close to the border for DAX, MDAX, and SDAX.


DAX/​​​​​​MDAX/​​​​​​SDAX Quiddity Leaderboard Mar 23: Vantage Tower and Other Interesting Names

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for the DAX, MDAX, and SDAX Indices for the September 2022 Rebalance.</li>
<li>
<a href="https://www.smartkarma.com/entities/aareal-bank-ag" target="_blank" data-smartkarma-citation="entities:21584:1" rel="noopener">Aareal Bank AG (ARL GR)</a> and <a href="https://www.smartkarma.com/entities/deutsche-euroshop-ag" target="_blank" data-smartkarma-citation="entities:21605:1" rel="noopener">Deutsche Euroshop Ag (DEQ GR)</a> are currently involved in takeover situations which might also have index change implications.</li>
<li>Based on current data, <a href="https://www.smartkarma.com/entities/rheinmetall-ag" target="_blank" data-smartkarma-citation="entities:21700:1" rel="noopener">Rheinmetall (RHM GR)</a> is leading the race to become a DAX ADD and <a href="https://www.smartkarma.com/entities/hellofresh-ag" target="_blank" data-smartkarma-citation="entities:26000:1" rel="noopener">HelloFresh (HFG GR)</a> is leading the race to become a DAX DEL.</li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELs for the DAX, MDAX, and SDAX Indices for the September 2022 Rebalance.

Aareal Bank AG (ARL GR) and Deutsche Euroshop Ag (DEQ GR) are currently involved in takeover situations which might also have index change implications.
Based on current data, Rheinmetall (RHM GR) is leading the race to become a DAX ADD and HelloFresh (HFG GR) is leading the race to become a DAX DEL.


DAX/MDAX/SDAX Quiddity Leaderboard Sep 2022: Rheinmetall, HelloFresh, & Other Potential Changes

Germany

Jenoptik AG is an optoelectronics group that offers optical systems, lasers and material processing.  The Company also provides industrial metrology, Traffic solutions, and defense & civil systems services.

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Jenoptik AG (JEN GR)

Quiddity Flow Expectations for DAX Mar 23 Rebal: WUW GR Vs SDAX Seems Interesting

I would be Bullish SDAX ADD Wuestenrot & Wuerttembergische (WUW GR) vs the SDAX index because historically SDAX ADDs have clearly outperformed the...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard for DAX Mar 23: Linde DEL Triggers US$2.7bn Reverse Funding Flows

The largest DAX member Linde AG (LIN GR) is expected to get deleted in February 2023 triggering extraordinary index changes and US$2.7bn in reverse...

Janaghan Jeyakumar, CFA

DAX/MDAX/SDAX Quiddity Leaderboard Mar 23: Vantage Tower and Other Interesting Names

Commerzbank, Delivery Hero, Sma Solar Technology, Jenoptik, and Deutsche Beteiligungs require single-digit gains against the other names to trigger...

Janaghan Jeyakumar, CFA

DAX/MDAX/SDAX Quiddity Leaderboard Sep 2022: Rheinmetall, HelloFresh, & Other Potential Changes

Based on current share prices, DAX, MDAX, and SDAX indices seem likely to experience one or more changes each in the September 2022 Regular Review.

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

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Dividend (Yield)

Quiddity Flow Expectations for DAX Mar 23 Rebal: WUW GR Vs SDAX Seems Interesting

I would be Bullish SDAX ADD Wuestenrot & Wuerttembergische (WUW GR) vs the SDAX index because historically SDAX ADDs have clearly outperformed the...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard for DAX Mar 23: Linde DEL Triggers US$2.7bn Reverse Funding Flows

The largest DAX member Linde AG (LIN GR) is expected to get deleted in February 2023 triggering extraordinary index changes and US$2.7bn in reverse...

Janaghan Jeyakumar, CFA

DAX/​​​​​​MDAX/​​​​​​SDAX Quiddity Leaderboard Mar 23: Vantage Tower and Other Interesting Names

Commerzbank, Delivery Hero, Sma Solar Technology, Jenoptik, and Deutsche Beteiligungs require single-digit gains against the other names to trigger...

Janaghan Jeyakumar, CFA

DAX/MDAX/SDAX Quiddity Leaderboard Sep 2022: Rheinmetall, HelloFresh, & Other Potential Changes

Based on current share prices, DAX, MDAX, and SDAX indices seem likely to experience one or more changes each in the September 2022 Regular Review.

Janaghan Jeyakumar, CFA

DAX/MDAX/SDAX Quiddity Leaderboard Mar 23: Vantage Tower and Other Interesting Names