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

<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>The base date for rankings for the June 2024 index rebal event is 31st May 2024. In this insight, we take a look at the latest list of potential ADDs/DELs.</li>
<li>Currently, I see 7 ADDs and 7 DELs for the SE600 index. There are more names just outside the border requiring small price changes to get involved in index changes.</li>
</ul>


The SE600 index is one of the most widely followed benchmark indices in Europe. This index is rebalanced on a quarterly basis.
The base date for rankings for the June 2024 index rebal event is 31st May 2024. In this insight, we take a look at the latest list of potential ADDs/DELs.
Currently, I see 7 ADDs and 7 DELs for the SE600 index. There are more names just outside the border requiring small price changes to get involved in index changes.


Quiddity Leaderboard SE600 Jun 24: Potential ADDs Could Continue to Outperform Potential DELs

Samhällsbyggnadsbolaget I Norden AB / Event-Driven

<ul>
<li>The June 2023 regular rebalance index changes for the SE600 index and the EURSTX index were announced after the close yesterday.</li>
<li>There are 8 ADDs/DELs for the SE600 index and 3 ADDs and 2 DELs for the EURSTX index.</li>
<li>In this insight, we take a closer look at our final index flow expectations for June 2023.</li>
</ul>


The June 2023 regular rebalance index changes for the SE600 index and the EURSTX index were announced after the close yesterday.
There are 8 ADDs/DELs for the SE600 index and 3 ADDs and 2 DELs for the EURSTX index.
In this insight, we take a closer look at our final index flow expectations for June 2023.


SE600 Jun 23 Rebal: Past Trades Successful, DELs Could Underperform Index over the Next ~2 Weeks

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for the STX Europe 600 and EUROSTX Indices for the June 2023 Rebalance.</li>
<li>I currently expect <a href="https://www.smartkarma.com/entities/credit-suisse-group-ag-f4b24f0c-c294-40b3-b491-759f0cb277e9" target="_blank" data-smartkarma-citation="entities:27915:1" rel="noopener">Credit Suisse (CSGN SW)</a> and <a href="https://www.smartkarma.com/entities/al-noor-hospitals-group-plc" target="_blank" data-smartkarma-citation="entities:21813:1" rel="noopener">Mediclinic International (MDC LN)</a> to be deleted in the next few trading days</li>
<li>Separately, there could be five ADDs and DELs during the regular review in June 2023.</li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELs for the STX Europe 600 and EUROSTX Indices for the June 2023 Rebalance.
I currently expect Credit Suisse (CSGN SW) and Mediclinic International (MDC LN) to be deleted in the next few trading days
Separately, there could be five ADDs and DELs during the regular review in June 2023.


Quiddity Leaderboard SE600 Jun 23: Credit Suisse Deletion Imminent; Multiple Changes in June

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for the STX Europe 600 and EUROSTX Indices for the March 2023 Rebalance.</li>
<li>STX Europe 600 members <a href="https://www.smartkarma.com/entities/credit-suisse-group-ag-f4b24f0c-c294-40b3-b491-759f0cb277e9" target="_blank" data-smartkarma-citation="entities:27915:1" rel="noopener">Credit Suisse (CSGN SW)</a> and <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> could possibly get deleted in the next few months triggering intra-review ADDs.</li>
<li>Separately, I see 3 more ADDs and DELs for the STX Europe 600 index in the regular review in June 2023.</li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELs for the STX Europe 600 and EUROSTX Indices for the March 2023 Rebalance.
STX Europe 600 members Credit Suisse (CSGN SW) and Vantage Towers (VTWR GR) could possibly get deleted in the next few months triggering intra-review ADDs.
Separately, I see 3 more ADDs and DELs for the STX Europe 600 index in the regular review in June 2023.


Quiddity Leaderboard SE600 Jun 23: Credit Suisse, Vantage Towers, and 3 Regular Changes

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>2023 gameplan remains unchanged; we see limited upside from here for ACWI-US, and we expect a rangebound year of trading on ACWI-US with $93 capping upside and $75-77 capping downside</li>
<li>We also remain overweight Europe/UK, we want to add exposure on pullbacks to China/Hong Kong/EM, and overweight non-U.S. equities (MSCI ACWI ex-US) relative to MSCI ACWI</li>
<li>We highlight buy ideas within Technology, Communications, and Consumer Discretionary. The UK/Europe and Hong Kong/China continue to make up the majority of our buy recommendations</li>
</ul>


2023 gameplan remains unchanged; we see limited upside from here for ACWI-US, and we expect a rangebound year of trading on ACWI-US with $93 capping upside and $75-77 capping downside
We also remain overweight Europe/UK, we want to add exposure on pullbacks to China/Hong Kong/EM, and overweight non-U.S. equities (MSCI ACWI ex-US) relative to MSCI ACWI
We highlight buy ideas within Technology, Communications, and Consumer Discretionary. The UK/Europe and Hong Kong/China continue to make up the majority of our buy recommendations


Major Top on U.S. Dollar; Overweight Non-U.S. And Europe/UK; Buys in Tech, Comm., Discretionary

United Kingdom

SSP Group PLC is a holding company that, through its subsidiaries, offers catering and concession services within the UK, Europe, Asia and North America.

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SSP Group (SSPG LN)

Quiddity Leaderboard SE600 Jun 24: Potential ADDs Could Continue to Outperform Potential DELs

The Top 10 potential ADDs have strongly outperformed the Top 7 potential DELs in the last 1-month, 3-month, and 1-year periods. I expect this trend...

Janaghan Jeyakumar, CFA

SE600 Jun 23 Rebal: Past Trades Successful, DELs Could Underperform Index over the Next ~2 Weeks

The changes are mostly in line with expectations. SE600 and EURSTX DELs have historically managed to underperform the SE600 index on average from...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard SE600 Jun 23: Credit Suisse Deletion Imminent; Multiple Changes in June

The rankings for the June 2023 review will be based on float market caps as at the close of trading on 31st May 2023. The Top 5 Potential ADDs...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard SE600 Jun 23: Credit Suisse, Vantage Towers, and 3 Regular Changes

Currently, Gerresheimer AG (GXI GR) and Loomis AB (LOOMB SS) are the highest-ranked non-constituents and could be favourites to become intra-review...

Janaghan Jeyakumar, CFA

Major Top on U.S. Dollar; Overweight Non-U.S. And Europe/UK; Buys in Tech, Comm., Discretionary

The $DXY broke below 5-year support at $103, signaling a major top in place. This is bullish for risk assets, and is another sign suggesting the...

Vermilion Research

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