In today’s briefing:
- MSCI Australia Nov SAIR: Significant Pre-Positioning on the Potential Deletes
MSCI Australia Nov SAIR: Significant Pre-Positioning on the Potential Deletes
- We see two inclusions and two exclusions for the MSCI Australia Index at the November SAIR. Passive trackers will need to trade between 5-8x ADV on the stocks.
- Cumulative excess volume on the stocks has been increasing steadily over the last few months, indicating a fair amount of pre-positioning.
- Short interest on the potential deletions has spiked over the last couple of months and pre-positioning could be close to (or larger than) the estimated passive selling.
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