In today’s briefing:
- MVIS Global Junior Gold Miners Index Rebalance: One Delete & Plenty of Float Changes
- MVIS Global Rare Earth/Strategic Metals Index Rebalance: Three Adds, Two Deletes
- Global Backlash Against ESG (Part I)
- Index Rebalance & ETF Flow Recap: NKY, HSCEI, REMX, GDXJ, Link Admin
MVIS Global Junior Gold Miners Index Rebalance: One Delete & Plenty of Float Changes
- Great Panther (GPL US) is a deletion from the VanEck Vectors Junior Gold Miners ETF (GDXJ US). There are a lot of float changes that will result in passive flows.
- One way turnover is estimated at 3.4% and will result in a one-way trade of US$106m at the September rebalance.
- Most index constituents have traded poorly over the last few months and the stocks with passive inflows could outperform their peers in the short-term.
MVIS Global Rare Earth/Strategic Metals Index Rebalance: Three Adds, Two Deletes
- Sayona Mining (SYA AU), Sigma Lithium (SGML US) and Tianqi Lithium (9696 HK) will replace Australian Strategic Materials (ASM AU) and Sierra Rutile Holdings (SRX AU) in the index.
- Sayona Mining (SYA AU) is also an inclusion to the FTSE All-Cap and S&P/ASX 200 on the same day as the VanEck Vectors Rare Earth/Strategic Metals ETF (REMX US) addition.
- We had Sayona Mining (SYA AU) and Tianqi Lithium (9696 HK) as potential adds while Australian Strategic Materials (ASM AU) and Sierra Rutile Holdings (SRX AU) were high probability deletes.
Global Backlash Against ESG (Part I)
- This insight highlights the global backlash against ESG. This is a collaborative project between Douglas Kim and Kyle Rudden.
- In particular, my insight will focus on three recent places of major backlash against ESG including United Kingdom, Texas, and Florida.
- Despite efforts by ESG investors to increase renewables, a return to more BALANCED energy supplies is more likely, expanding the use of nuclear power and domestic oil & gas sources.
Index Rebalance & ETF Flow Recap: NKY, HSCEI, REMX, GDXJ, Link Admin
- The last week had the announcement of the Nikkei 225 (NKY INDEX) September changes and the implementation of the SSE STAR50 (STAR50 INDEX) rebalance.
- The coming week will have the implementation of the FTSE AW/AC, FTSE China 50/A50, Taiwan 50/Div+, STI, EPRA Nareit, S&P/ASX, REMX and GDXJ rebalances.
- There were large outflows from iShares MSCI ACWI ETF (ACWI US) and iShares MSCI Emerging Markets (EEM US) during the week.
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