Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

I investigate special situations, pairs, and index rebalancing trades in Korea.

Korea / Special Sits, Pairs, Index Rebalancing

WISE Theme Indexes (TIGER ETFs): Rebalancing Flow Estimations

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Recap on WISE Theme Indexes (TIGER ETFs) Rebalancing Trading on April 14

HYBE: Consensus to Slash Earning Estimates Due to BTS Going on A "Temporary Break" For Solo Projects

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>This ETF's AUM has decreased by 20% over the past three months, remaining at ₩120B. It has 22 constituents, and there won't be any addition/deletion at the upcoming rebalancing.</li>
<li>As HYBE's recent share price plunged, we can expect a fairly interesting passive impact from this rebalancing, because its 10% cap reversion is certain to occur despite the price plunge.</li>
<li>CJ ENM (-0.19x ADTV) and Studio Dragon (+0.25x ADTV) are also expected to have a significant passive impact.</li>
</ul>


This ETF's AUM has decreased by 20% over the past three months, remaining at ₩120B. It has 22 constituents, and there won't be any addition/deletion at the upcoming rebalancing.
As HYBE's recent share price plunged, we can expect a fairly interesting passive impact from this rebalancing, because its 10% cap reversion is certain to occur despite the price plunge.
CJ ENM (-0.19x ADTV) and Studio Dragon (+0.25x ADTV) are also expected to have a significant passive impact.


Mirae Asset TIGER Secondary Cell ETF (305540 KS)

Mirae Asset Tiger Media Contents ETF (228810 KS)

Mirae Asset Tiger Tour Leisure ETF (228800 KS)

WISE Theme Index "Media Contents" Rebalancing Projections: HYBE, CJ ENM, & Studio Dragon