Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Equity Analyst with experience in fundamental and event-driven research in Frontier and Emerging markets. 

On Smartkarma, I mainly publish insights on index flow events in the Asia-Pacific region. This includes predicting regular and intra-review index changes and estimating upcoming passive flows. I also cover special situations such as mergers & acquisitions, equity offerings, buybacks, and other corporate restructuring events.

Pan-Asia Index Flows & Special Situations

TOPIX Inclusions: A Look at TSE1 Direct Listings

Gravity Works As WeWork Doesn't; Now Plan B

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<p>Japanese processed food manufacturer <a href="https://www.smartkarma.com/entities/kibun-foods-inc" target="_blank" data-smartkarma-citation="entities:33019:1" rel="noopener">Kibun Foods Inc (2933 JP)</a> was listed in the First Section of the Tokyo Stock Exchange (TSE) on 13th April 2021.</p>
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<p>When a company gets listed in the First Section of TSE, it subsequently gets included in the TOPIX Index and as a result, TOPIX-tracking funds will have to purchase the stock during an Inclusion Event which presents interesting trading opportunities for active investors to generate sharp market-neutral returns in the space of few trading days. Alternatively, this can also be considered as a key point in time where short-term IPO investors could decide if they wanted to exit their positions by utilizing this liquidity event.</p>
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<p>Below is a look at the timeline and the parameters of the Inclusion Event and the potential trading opportunities surrounding it. </p>
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Japanese processed food manufacturer Kibun Foods Inc (2933 JP) was listed in the First Section of the Tokyo Stock Exchange (TSE) on 13th April 2021.

When a company gets listed in the First Section of TSE, it subsequently gets included in the TOPIX Index and as a result, TOPIX-tracking funds will have to purchase the stock during an Inclusion Event which presents interesting trading opportunities for active investors to generate sharp market-neutral returns in the space of few trading days. Alternatively, this can also be considered as a key point in time where short-term IPO investors could decide if they wanted to exit their positions by utilizing this liquidity event.


Below is a look at the timeline and the parameters of the Inclusion Event and the potential trading opportunities surrounding it. 


Kibun Foods Inc

TOPIX Inclusion: Kibun Foods (2933 JP)