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: WingArc1st Inc (4432 JP)

BeNEXT - Yumeshin Merger: FTSE Upweight Is a Positive Surprise

TOPIX Inclusions: How to Account for The Impact of Equity Offerings

Gravity Works As WeWork Doesn't; Now Plan B

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

Quiddity's coverage of TOPIX Inclusion Trades has primarily involved cases of Section Transfers where Japanese small-cap stocks listed in the MOTHERS, JASDAQ, and the Second Section move to the First Section of the Tokyo Stock Exchange. In the past, such Section Transfers trigger Inclusion into the TOPIX Index forcing Index funds tracking TOPIX to buy shares in these stocks at their  Inclusion events resulting in a net demand situation that has presented trading opportunities for investors to generate sharp market-neutral returns in the space of few weeks.Following the introduction of the new (and more stringent) Section Transfer Requirements last year by the TSE, there have been fewer Section Transfers as small cap companies struggle to comply with these requirements. However, Section Transfers are not the only source of TOPIX Inclusion Trades. Japanese stocks that directly get newly listed (IPO) in the First Section also qualify for the TOPIX Inclusion almost in the same manner as stocks that move to TSE1 through a Section Transfer. With Section Transfers falling in number, we turn our focus to "TSE1 Direct Listings" in this insight.

Quiddity's coverage of TOPIX Inclusion Trades has primarily involved cases of Section Transfers where Japanese small-cap stocks listed in the MOTHERS, JASDAQ, and the Second Section move to the First Section of the Tokyo Stock Exchange. In the past, such Section Transfers trigger Inclusion into the TOPIX Index forcing Index funds tracking TOPIX to buy shares in these stocks at their  Inclusion events resulting in a net demand situation that has presented trading opportunities for investors to generate sharp market-neutral returns in the space of few weeks.Following the introduction of the new (and more stringent) Section Transfer Requirements last year by the TSE, there have been fewer Section Transfers as small cap companies struggle to comply with these requirements. However, Section Transfers are not the only source of TOPIX Inclusion Trades. Japanese stocks that directly get newly listed (IPO) in the First Section also qualify for the TOPIX Inclusion almost in the same manner as stocks that move to TSE1 through a Section Transfer. With Section Transfers falling in number, we turn our focus to "TSE1 Direct Listings" in this insight.  

TOPIX Inclusions: A Look at TSE1 Direct Listings

Softbank Corp

TOPIX Inclusions: A Look at TSE1 Direct Listings