Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>On 3 June 2022, the S&amp;P DJI Global Index team announced changes to the S&amp;P500, S&amp;P Midcap 400, and S&amp;P SmallCap 600 indices (and a number of other smaller indices).</li>
<li>
<a href="https://www.smartkarma.com/entities/vici-properties-inc" target="_blank" data-smartkarma-citation="entities:28786:1" rel="noopener"></a>VICI Properties (VICI) will replace Cerner (CERN) in S&amp;P500 at close of 7 June. Keurig DrPepper and ON Semiconductor will replace UnderArmour and IPG Photonics at close 17 June.</li>
<li>This set of rebalances is particularly interesting in terms of non-offsetting flows, unlike many rebals which are just a game of musical shares between the three top indices.</li>
</ul>


On 3 June 2022, the S&amp;P DJI Global Index team announced changes to the S&amp;P500, S&amp;P Midcap 400, and S&amp;P SmallCap 600 indices (and a number of other smaller indices).

VICI Properties (VICI) will replace Cerner (CERN) in S&amp;P500 at close of 7 June. Keurig DrPepper and ON Semiconductor will replace UnderArmour and IPG Photonics at close 17 June.
This set of rebalances is particularly interesting in terms of non-offsetting flows, unlike many rebals which are just a game of musical shares between the three top indices.


S&P500, S&PMid400, and S&PSmall600 Index Changes for June 2022 - More Interesting Than Usual

Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>As we are heading into 2023, let us look back on the performance of some of our global healthcare stocks recommended throughout 2022.</li>
<li>Four stocks on which I am bullish, generated more than 50% return since their recommendations. 10 stocks on which I am bearish plunged more than 20%.</li>
<li>For 2023, investors should continue to focus on established healthcare companies, having strong and flexible balance sheet with muti-year revenue visibility.</li>
</ul>


As we are heading into 2023, let us look back on the performance of some of our global healthcare stocks recommended throughout 2022.
Four stocks on which I am bullish, generated more than 50% return since their recommendations. 10 stocks on which I am bearish plunged more than 20%.
For 2023, investors should continue to focus on established healthcare companies, having strong and flexible balance sheet with muti-year revenue visibility.


2022 in Rear Mirror View: Top Performers From My Global Healthcare Coverage Universe

Equity Bottom-Up

Tactile Systems Technology I / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tactile-systems-technology-i" target="_blank" data-smartkarma-citation="entities:26307:1" rel="noopener">Tactile Systems Technology I (TCMD US)</a> offers pneumatic compression pump, which has total current addressable market opportunity of $10B+ in the U.S. The company’s annual run rate is ~$200M.</li>
<li>To penetrate the addressable market deeper, Tactile is aggressively expanding commercial team, which should lay the foundation for long-term sustainable revenue growth and margin expansion.</li>
<li>With the declining COVID-related headwinds, new product launch, and better commercial execution, Tactile should be well-positioned for accelerated growth trajectory.  </li>
</ul>



Tactile Systems Technology I (TCMD US) offers pneumatic compression pump, which has total current addressable market opportunity of $10B+ in the U.S. The company’s annual run rate is ~$200M.
To penetrate the addressable market deeper, Tactile is aggressively expanding commercial team, which should lay the foundation for long-term sustainable revenue growth and margin expansion.
With the declining COVID-related headwinds, new product launch, and better commercial execution, Tactile should be well-positioned for accelerated growth trajectory.  


Tactile Systems Technology (TCMD US): Subsiding COVID to Drive Mid-Teens Sales Growth in 2022

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>There are quite a few changes for stocks across the <a href="https://www.smartkarma.com/entities/s-p-500" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 (SPX INDEX)</a>, MidCap 400 Index and SmallCap 600 Index that will result in a one-way trade of US$30bn.</li>
<li>There are adds/deletes that have over 5 days of ADV to trade from passive funds, plus many stocks that have over +/-1 day of ADV from other changes.</li>
<li>The largest impact of passive buying will be on <a href="https://www.smartkarma.com/entities/keurig-dr-pepper-inc" target="_blank" data-smartkarma-citation="entities:15411:1" rel="noopener">Keurig Dr Pepper Inc (KDP US)</a>, <a href="https://www.smartkarma.com/entities/on-semiconductor-corp" target="_blank" data-smartkarma-citation="entities:2729:1" rel="noopener">On Semiconductor (ON US)</a> and <a href="https://www.smartkarma.com/entities/vici-properties-inc" target="_blank" data-smartkarma-citation="entities:28786:1" rel="noopener">VICI Properties Inc (VICI US)</a>. </li>
</ul>


There are quite a few changes for stocks across the S&amp;P 500 (SPX INDEX), MidCap 400 Index and SmallCap 600 Index that will result in a one-way trade of US$30bn.
There are adds/deletes that have over 5 days of ADV to trade from passive funds, plus many stocks that have over +/-1 day of ADV from other changes.
The largest impact of passive buying will be on Keurig Dr Pepper Inc (KDP US), On Semiconductor (ON US) and VICI Properties Inc (VICI US). 


S&P500 Index Rebalance: One-Way Trade of US$30bn

United States

Tactile Systems Technology, Inc., doing business as Tactile Medical, develops and manufactures medical devices. The Company offers technology for treating lymphedema and chronic swelling and healing of venous ulcers. Tactile Medical serves patients and healthcare sector in the United States.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Tactile Systems Technology I (TCMD US)

S&P500, S&PMid400, and S&PSmall600 Index Changes for June 2022 - More Interesting Than Usual

The June 2022 S&P500, S&P Midcap 400 and S&P SmallCap 600 Rebalance was announced on 3 June 2022. VICI will replace CERN at the close of 7 June,...

Travis Lundy

2022 in Rear Mirror View: Top Performers From My Global Healthcare Coverage Universe

From my coverage universe, two Taiwanese stocks generated 59% and 71% returns in nearly six months. New product launch and geography expansion are...

Tina Banerjee

Tactile Systems Technology (TCMD US): Subsiding COVID to Drive Mid-Teens Sales Growth in 2022

Tactile Systems has a significant runway ahead as the company continues to penetrate the combined multibillion-dollar annual addressable market...

Tina Banerjee

S&P500 Index Rebalance: One-Way Trade of US$30bn

There are 3 changes for the S&P500, plus more changes for the MidCap and SmallCap indices. We estimate a one-way trade of US$30bn across the...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)