Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Highly experienced ex-Delta One trader with 17 years of experience trading arbitrage and related strategies across Asian markets.

Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd.

It is important to note that the information provided by Periscope Analytics is based on publicly available data and own knowledge, which has been gathered and synthesized from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions.

All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include, but are not limited to, company announcements, exchange filings, ETF and other passive investment vehicle holdings, and free float and volume data from third-party data providers. Periscope Analytics does not guarantee the accuracy and completeness of the forecasts, estimates and/or other information.

Pan-Asia Index Rebalances/ Events/ Delta One

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Event-Driven

On 12 March, MV Index Solutions announced the results of the quarterly review of the MVIS Global Junior Gold Miners Index.There are 9 inclusions and 1 exclusion for the index at the March review and the changes will be effective after the close of trading on 19 March.The inclusions are Skeena Resources, Discovery Metals, Marathon Gold, Liberty Gold, <a href="https://www.smartkarma.com/entities/maverix-metals-inc" target="_blank" data-smartkarma-citation="entities:28296:1" rel="noopener">Maverix Metals Inc (MMX CN)</a>, <a href="https://www.smartkarma.com/entities/jaguar-mining-inc" target="_blank" data-smartkarma-citation="entities:25393:1" rel="noopener">Jaguar Mining (JAG CN)</a>, Galiano Gold, <a href="https://www.smartkarma.com/entities/silver-mines-ltd" target="_blank" data-smartkarma-citation="entities:17430:1" rel="noopener">Silver Mines (SVL AU)</a> and <a href="https://www.smartkarma.com/entities/caledonia-mining-corp-plc" target="_blank" data-smartkarma-citation="entities:26708:1" rel="noopener">Caledonia Mining Corp PLC (CMCL US)</a>, while the sole exclusion is <a href="https://www.smartkarma.com/entities/northern-star-resources-ltd" target="_blank" data-smartkarma-citation="entities:4243:1" rel="noopener">Northern Star Resources (NST AU)</a>.The deletion of <a href="https://www.smartkarma.com/entities/northern-star-resources-ltd" target="_blank" data-smartkarma-citation="entities:4243:1" rel="noopener">Northern Star Resources (NST AU)</a> is a result of its merger with <a href="https://www.smartkarma.com/entities/saracen-mineral-holdings-limited" target="_blank" data-smartkarma-citation="entities:2415:1" rel="noopener">Saracen Mineral Holdings (SAR AU)</a> that results in the new company not being 'Junior' any more.Given the relatively high assets tracking the index, there will be quite a few days of ADV to trade on the inclusions and exclusions, though in the case of <a href="https://www.smartkarma.com/entities/northern-star-resources-ltd" target="_blank" data-smartkarma-citation="entities:4243:1" rel="noopener">Northern Star Resources (NST AU)</a> we expect a lot of the selling has already been priced in.

On 12 March, MV Index Solutions announced the results of the quarterly review of the MVIS Global Junior Gold Miners Index.There are 9 inclusions and 1 exclusion for the index at the March review and the changes will be effective after the close of trading on 19 March.The inclusions are Skeena Resources, Discovery Metals, Marathon Gold, Liberty Gold, Maverix Metals Inc (MMX CN), Jaguar Mining (JAG CN), Galiano Gold, Silver Mines (SVL AU) and Caledonia Mining Corp PLC (CMCL US), while the sole exclusion is Northern Star Resources (NST AU).The deletion of Northern Star Resources (NST AU) is a result of its merger with Saracen Mineral Holdings (SAR AU) that results in the new company not being 'Junior' any more.Given the relatively high assets tracking the index, there will be quite a few days of ADV to trade on the inclusions and exclusions, though in the case of Northern Star Resources (NST AU) we expect a lot of the selling has already been priced in.

Junior Gold Miners Index Rebalance: Northern Star Deletion Could Provide a Good Entry Point