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 Inclusion Pre-Events: Post-IPO Basket Trade in Detail

TOPIX Inclusion Pre-Events: Post-IPO Strategies for Japanese Small-Caps

Tsuzuki Denki (8157 JP): 3 More Days to The Inclusion Event - Prepare to Sell/Short

Quiddity Advisors

Pan-Asia Catalysts/Events

Quantitative Analysis

In June 2020, we saw some interesting TSE1 Approval announcements including names like <a href="https://www.smartkarma.com/entities/tsuzuki-denki-co-ltd" target="_blank" data-smartkarma-citation="entities:8270:1" rel="noopener">Tsuzuki Denki (8157 JP)</a> and <a href="https://www.smartkarma.com/entities/mixi-inc" target="_blank" data-smartkarma-citation="entities:602:1" rel="noopener">Mixi Inc (2121 JP)</a> which enjoyed strong price rallies following their announcements. As of end-June, there were 10 live pre-events, 5 live inclusion events, and a half dozen just-post-inclusion names which announced in April/May 2020 which entered TOPIX at the end of June and July. These were discussed in detail in <a href="https://www.smartkarma.com/insights/topix-inclusion-trade-summary-june-2020" target="_blank" data-smartkarma-citation="insights:40784" rel="noopener">TOPIX Inclusion Trade Summary: June 2020</a>. In this month's summary, I have provided updates on our "TOPIX Inclusion Pre-events Watchlist" and how a equally-weighted portfolio constructed according to <a href="https://www.smartkarma.com/insights/topix-inclusion-pre-events-post-ipo-basket-trade-in-detail" target="_blank" data-smartkarma-citation="insights:41411" rel="noopener">TOPIX Inclusion Pre-Events: Post-IPO Basket Trade in Detail</a> would have performed in the month of July. I have also provided a summary of six "Live Events" which are expected to have their TOPIX Inclusion events at the end of August 2020 and a list of four just-post-inclusion names which have had their Inclusion events at the end of May/June 2020. As always, there is more below the fold.

In June 2020, we saw some interesting TSE1 Approval announcements including names like Tsuzuki Denki (8157 JP) and Mixi Inc (2121 JP) which enjoyed strong price rallies following their announcements. As of end-June, there were 10 live pre-events, 5 live inclusion events, and a half dozen just-post-inclusion names which announced in April/May 2020 which entered TOPIX at the end of June and July. These were discussed in detail in TOPIX Inclusion Trade Summary: June 2020. In this month's summary, I have provided updates on our "TOPIX Inclusion Pre-events Watchlist" and how a equally-weighted portfolio constructed according to TOPIX Inclusion Pre-Events: Post-IPO Basket Trade in Detail would have performed in the month of July. I have also provided a summary of six "Live Events" which are expected to have their TOPIX Inclusion events at the end of August 2020 and a list of four just-post-inclusion names which have had their Inclusion events at the end of May/June 2020. As always, there is more below the fold.

TOPIX Inclusion Trade Summary: July 2020