Industrials: Yangzijiang Shipbuilding, AllianceBernstein Holding LP, Toyo Construction, Booking Holdings and more

In today’s briefing:

Index Rebalance & ETF Flow Recap: MSCI, TOPIX, KT/SKT, GoTo, Yangzijiang, Emperador, SK Shieldus
Fiduciary Management Large Cap Equity Q1 2022 Investment Letter
Asia-Pac Weekly Risk Arb Wrap: Excelpoint, Tri Stage, Toyo, Uniti, Western Areas, Suchuang Gas
Fiduciary Management International Equity Q1 2022 Investment Letter

Index Rebalance & ETF Flow Recap: MSCI, TOPIX, KT/SKT, GoTo, Yangzijiang, Emperador, SK Shieldus

The review period for the MSCI May SAIR starts on Monday, 18 April and will run for 10 trading days, though MSCI usually selects one of the first five days.
GoTo (GOTO IJ) listed during the last week and could be a Fast Entry to the IDX indices. The Yangzijiang Shipbuilding (YZJSGD SP) spinoff has index implications.
Relatively large inflows into China focused ETFs during the week, while there were outflows from Korea focused ETFs.

The war has already had impacts on commodities, intermediate products, and the supply chain.
If higher interest rates and inflation characterize the landscape for the next several years, it likely spells the end of the era of unbridled speculation and high multiples.

There are 35 – mostly firm – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Two new deals this week: WT Microelectronics (3036 TT)‘s tilt for Excelpoint Technology (EXLP SP); Bain’s MBO for Tri Stage Inc (2178 JP).
Key updates took place for: Toyo Construction (1890 JP), Uniti Group Ltd (UWL AU), Western Areas (WSA AU), and Suchuang Gas Corp (1430 HK).

FMI’s equity investing strategies apply a value discipline, with a focused approach firmly rooted in fundamental research.
The FMI International portfolios’ exposure to Russia and Ukraine is quite limited, with no direct investments in either country.

Before it’s here, it’s on Smartkarma