Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/monadelphous-group-ltd" target="_blank" data-smartkarma-citation="entities:553:1" rel="noopener">Monadelphous (MND AU)</a> will be added to the S&amp;P ASX 200 Index on 16 December 2022.</li>
<li>This is not a surprise. It has been the lead contender for a December ADD slot since the day after the September rebalance was completed (see <a href="https://www.smartkarma.com/insights/s-p-asx-quiddity-leaderboard-dec-22-top-ranked-asx200-adds-look-interesting" target="_blank" rel="noopener">here</a>).</li>
<li>There is a fair bit of volume to buy, and there are pair trades to do.</li>
</ul>



Monadelphous (MND AU) will be added to the S&amp;P ASX 200 Index on 16 December 2022.
This is not a surprise. It has been the lead contender for a December ADD slot since the day after the September rebalance was completed (see here).
There is a fair bit of volume to buy, and there are pair trades to do.


Monadelphous (MND AU) Is The S&P ASX 200 ADD - There's a Trade Here

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>With 2 days left to review cutoff, there could be 1 inclusion and 3 deletions for the index at the September rebalance.</li>
<li>Even if there are no constituent changes, capping changes will lead to one-way turnover of 4.4% and a round-trip trade of A$212m.</li>
<li>The final list of inclusions/exclusions will depend on price movements till Friday and whether the index provider makes any significant changes to the free float of stocks in the universe.</li>
</ul>


With 2 days left to review cutoff, there could be 1 inclusion and 3 deletions for the index at the September rebalance.
Even if there are no constituent changes, capping changes will lead to one-way turnover of 4.4% and a round-trip trade of A$212m.
The final list of inclusions/exclusions will depend on price movements till Friday and whether the index provider makes any significant changes to the free float of stocks in the universe.


MV Australia Equal Weight Index Rebalance Preview: One Add & A Few Deletes

<ul>
<li>
<a href="https://www.smartkarma.com/entities/idp-education-ltd" target="_blank" data-smartkarma-citation="entities:1098:1" rel="noopener">IDP Education (IEL AU)</a> and <a href="https://www.smartkarma.com/entities/lendlease-group" target="_blank" data-smartkarma-citation="entities:11248:1" rel="noopener">Lendlease Group (LLC AU)</a> will be deleted from the MV Australia Equal Weight Index at the June rebalance.</li>
<li>Constituent, float and capping changes will result in a one-way turnover of 5% and in a round-trip trade of A$228m.</li>
<li>There are many stocks from the S&amp;P/ASX index family that will have same way or opposing flows from <a href="https://www.smartkarma.com/entities/vaneck-vectors-australian-equal-weight-etf" target="_blank" data-smartkarma-citation="entities:24297:1" rel="noopener">VanEck Vectors Australian Equal Weight ETF (MVW AU)</a>. </li>
</ul>



IDP Education (IEL AU) and Lendlease Group (LLC AU) will be deleted from the MV Australia Equal Weight Index at the June rebalance.
Constituent, float and capping changes will result in a one-way turnover of 5% and in a round-trip trade of A$228m.
There are many stocks from the S&amp;P/ASX index family that will have same way or opposing flows from VanEck Vectors Australian Equal Weight ETF (MVW AU). 


MV Australia Equal Weight Index Rebalance: IDP Education (IEL) & Lendlease Group (LLC) Out

<ul>
<li>With the review period complete, there are 3 stocks that are close to the deletion zone and could be removed from the index at the June rebalance.</li>
<li>Even if there are no constituent changes, capping changes will lead to one-way turnover of 3.6% and a one-way trade of A$83m.</li>
<li>There are 6 stocks with over A$5m to trade from passive trackers but the impact on the stocks is not very high.</li>
</ul>


With the review period complete, there are 3 stocks that are close to the deletion zone and could be removed from the index at the June rebalance.
Even if there are no constituent changes, capping changes will lead to one-way turnover of 3.6% and a one-way trade of A$83m.
There are 6 stocks with over A$5m to trade from passive trackers but the impact on the stocks is not very high.


MV Australia Equal Weight Index Rebalance Preview: Close Deletions in June

<ul>
<li>There are no constituent changes for the MVIS Australia Equal Weight Index at the March rebalance. </li>
<li>Float and capping changes will result in a one-way turnover of 4.4% and in a round-trip trade of A$195m.</li>
<li>We had <a href="https://www.smartkarma.com/entities/lendlease-group" target="_blank" data-smartkarma-citation="entities:11248:1" rel="noopener">Lendlease Group (LLC AU)</a>, <a href="https://www.smartkarma.com/entities/idp-education-ltd" target="_blank" data-smartkarma-citation="entities:1098:1" rel="noopener">IDP Education (IEL AU)</a> and <a href="https://www.smartkarma.com/entities/nib-holdings-ltd" target="_blank" data-smartkarma-citation="entities:7063:1" rel="noopener">nib holdings (NHF AU)</a> as close deletes and they will now have inflows due to capping.</li>
</ul>


There are no constituent changes for the MVIS Australia Equal Weight Index at the March rebalance. 
Float and capping changes will result in a one-way turnover of 4.4% and in a round-trip trade of A$195m.
We had Lendlease Group (LLC AU), IDP Education (IEL AU) and nib holdings (NHF AU) as close deletes and they will now have inflows due to capping.


MV Australia Equal Weight Index Rebalance: Float & Capping Changes to Drive Flow

Australia

Lendlease Group designs, develops, and manages property and infrastructure assets. The Company constructs apartments, commercial buildings, government offices, retirement living, and educational facilities. Lendlease serves customers worldwide.

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Lendlease Group (LLC AU)

Monadelphous (MND AU) Is The S&P ASX 200 ADD - There's a Trade Here

Mining services company Monadelphous (MND AU) is the S&P ASX 200 ADD, as expected. There should be 4.8mm shares to buy - 12+ days of ADV. There's a...

Travis Lundy

MV Australia Equal Weight Index Rebalance Preview: One Add & A Few Deletes

There could be 1 add and 3 deletes in Sep. Even if there are no constituent changes, capping changes will lead to one-way turnover of 4.4% and a...

Brian Freitas

MV Australia Equal Weight Index Rebalance: IDP Education (IEL) & Lendlease Group (LLC) Out

IDP Education and Lendlease Group will be deleted from the MV Australia Equal Weight Index. Constituent, float and capping changes will result in 1...

Brian Freitas

MV Australia Equal Weight Index Rebalance Preview: Close Deletions in June

There are 3 close deletes for the index in June. Even if there are no changes, 1-way turnover is 3.6% and 1-way trade is A$83m. Shorts have started...

Brian Freitas

MV Australia Equal Weight Index Rebalance: Float & Capping Changes to Drive Flow

There are no constituent changes for the index in March but float and capping changes will result in a one-way turnover of 4.4% and in a round-trip...

Brian Freitas

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