Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Back on the 21st March, <strong><a href="https://www.smartkarma.com/entities/virgin-money-uk-plc" target="_blank" data-smartkarma-citation="entities:22918:1" rel="noopener">Virgin Money UK (VUK AU/VMUK LN)</a></strong>, UK's sixth largest retail bank, entered into a Scheme with Nationwide Building Society, at 220 pence/share, in cash.</li>
<li>The consideration is a solid 38% premium to undisturbed. And shareholders backed terms at the<a href="https://announcements.asx.com.au/asxpdf/20240523/pdf/063v45k7bl776c.pdf" target="_blank" rel="noopener"> 22nd May Court Meeting</a>. Plus UK's CMA signed off on the <a href="https://announcements.asx.com.au/asxpdf/20240722/pdf/065sh1mr1c2vn9.pdf" target="_blank" rel="noopener">19th July</a>. </li>
<li>
<strong>What now?</strong> FCA/PRA approvals are the key remaining conditions. These regulatory approvals are imminent.</li>
</ul>


Back on the 21st March, Virgin Money UK (VUK AU/VMUK LN), UK's sixth largest retail bank, entered into a Scheme with Nationwide Building Society, at 220 pence/share, in cash.
The consideration is a solid 38% premium to undisturbed. And shareholders backed terms at the 22nd May Court Meeting. Plus UK's CMA signed off on the 19th July. 

What now? FCA/PRA approvals are the key remaining conditions. These regulatory approvals are imminent.


Nationwide/Virgin Money (VUK AU): At The Pointy End Of The Offer

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

<ul>
<li>The SE600 index is one of the most widely followed benchmark indices in Europe. This index is rebalanced on a quarterly basis.</li>
<li>In this insight, we take a look at the potential index changes that could take place between now and the end of the December 2023 rebalance.</li>
<li>This includes a couple of intra-review index changes that could be triggered by the <a href="https://www.smartkarma.com/entities/dechra-pharmaceuticals-plc" target="_blank" data-smartkarma-citation="entities:21908:1" rel="noopener">Dechra Pharmaceuticals (DPH LN)</a> and <a href="https://www.smartkarma.com/entities/chr-hansen-holding-a-s" target="_blank" data-smartkarma-citation="entities:22322:1" rel="noopener">Chr Hansen Holding A/S (CHR DC)</a> takeover situations.</li>
</ul>


The SE600 index is one of the most widely followed benchmark indices in Europe. This index is rebalanced on a quarterly basis.
In this insight, we take a look at the potential index changes that could take place between now and the end of the December 2023 rebalance.
This includes a couple of intra-review index changes that could be triggered by the Dechra Pharmaceuticals (DPH LN) and Chr Hansen Holding A/S (CHR DC) takeover situations.


Quiddity Leaderboard SE600 Dec 23: Novartis-Sandoz, Dechra, CHR, and Others

<ul>
<li>The March 2022 constituent changes for the STOXX Europe 600 and the EURO STOXX Indices were announced on 1st March 2022. </li>
<li>The Index Changes will be implemented (Inclusion Event) at the close of 18th March 2022 (Friday) and the changes will be effective from 21st March 2022 (Monday). </li>
<li>So far, the LONG-SHORT baskets suggested by Quiddity have done extremely well. Below are my thoughts for the remainder of the timeline.</li>
</ul>


The March 2022 constituent changes for the STOXX Europe 600 and the EURO STOXX Indices were announced on 1st March 2022. 
The Index Changes will be implemented (Inclusion Event) at the close of 18th March 2022 (Friday) and the changes will be effective from 21st March 2022 (Monday). 
So far, the LONG-SHORT baskets suggested by Quiddity have done extremely well. Below are my thoughts for the remainder of the timeline.


STOXX Europe Indices: March 2022 Rebalance Trade So Far So Good. What Next?

<ul>
<li>The European Benchmark Indices (BMI) of the STOXX family are reviewed on a quarterly basis in March, June, September and December. The March 2022 constituent changes were announced yesterday.</li>
<li>In this insight, we mainly focus on the constituent changes for the STOXX Europe 600 Index and the EURO STOXX Index.</li>
<li>In addition, we also take a look at the timeline, expected Inclusion/Exclusion Parameters for these candidates, historical performance of past rebalance events, and a potential trading strategy for March 2022.</li>
</ul>


The European Benchmark Indices (BMI) of the STOXX family are reviewed on a quarterly basis in March, June, September and December. The March 2022 constituent changes were announced yesterday.
In this insight, we mainly focus on the constituent changes for the STOXX Europe 600 Index and the EURO STOXX Index.
In addition, we also take a look at the timeline, expected Inclusion/Exclusion Parameters for these candidates, historical performance of past rebalance events, and a potential trading strategy for March 2022.


STOXX Europe Indices: Constituent Changes and Trading Strategy March 2022

<ul>
<li>The STOXX Europe 600 Index is a benchmark index with a fixed number of 600 components representing large, mid and small capitalization companies across 17 countries of the European region.</li>
<li>The EURO STOXX Index is a subset of the STOXX Europe 600 Index and is also the parent index for the widely-tracked EURO STOXX 50 Index.</li>
<li>Below is a look at the Potential Adds and Deletes for the STOXX Europe 600 Index and the EURO STOXX Index in the upcoming index review in March 2022.</li>
</ul>


The STOXX Europe 600 Index is a benchmark index with a fixed number of 600 components representing large, mid and small capitalization companies across 17 countries of the European region.
The EURO STOXX Index is a subset of the STOXX Europe 600 Index and is also the parent index for the widely-tracked EURO STOXX 50 Index.
Below is a look at the Potential Adds and Deletes for the STOXX Europe 600 Index and the EURO STOXX Index in the upcoming index review in March 2022.


STOXX Europe Indices: Quiddity Leaderboard for March 2022 Rebalance (Final)

United Kingdom

OSB Group PLC operates as a bank. The Company offers commercial mortgages, asset finance, and retail savings, as well as loans to non-bank finance companies secured against portfolios of financial assets, principally mortgages, and leases. OSB Group serves clients in the United Kingdom.

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OSB Group (OSB LN)

Nationwide/Virgin Money (VUK AU): At The Pointy End Of The Offer

Done deal. Trading tight at a 1.8%, 1.9% gross spread for the UK, Aussie legs, assuming mid-Nov completion. If in, stay in. Or get involved on...

David Blennerhassett

Quiddity Leaderboard SE600 Dec 23: Novartis-Sandoz, Dechra, CHR, and Others

I currently see six regular ADDs/DELs for the SE600 index in December 2023. Apart from that the Dechra and CHR deals could trigger two more intra...

Janaghan Jeyakumar, CFA

STOXX Europe Indices: March 2022 Rebalance Trade So Far So Good. What Next?

The LONG-SHORT Trades for the STOXX Europe 600 and EURO STOXX Indices March 2022 Rebalance has performed well so far. Below is a discussion on my...

Janaghan Jeyakumar, CFA

STOXX Europe Indices: Constituent Changes and Trading Strategy March 2022

STOXX Europe 600 announced 9 Adds and 9 Deletes for March 2022. Here is a closer look at the constituency changes and potential trading strategies...

Janaghan Jeyakumar, CFA

STOXX Europe Indices: Quiddity Leaderboard for March 2022 Rebalance (Final)

A look at the Potential Adds and Deletes for the STOXX Europe 600 Index and the EURO STOXX Index in the upcoming index review in March 2022.

Janaghan Jeyakumar, CFA

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