New player ....... Mawer Investments Management Ltd :Disclosure of beginning to have substantial holding
Total number held in class: 55,659,500 total percentage held in class: 5.043%
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New player ....... Mawer Investments Management Ltd :Disclosure of beginning to have substantial holding
Total number held in class: 55,659,500 total percentage held in class: 5.043%
Interesting volume today, nearly 27,000,000 shares have changed hands, and several very large trades in depth on the NZX this morning. 10:41am , 10,250,000 shares, value $16.9 million. And 11am , 10,550,000 shares, value $17.4 million. Seems someone is in accumulation mode. Hasn't had much impact in influencing the SP, and still very low volume on the ASX.
Many of the companies I'm invested in, those which are dual listed on the ASX and NZX, are often driven by larger volume on the ASX. Seems with PPH , the NZX is leading the charge.
Still no word on the catholic sector coming onboard?
Are they moving in and / or out of some indices? It is Index Rebalance date after all.
Normally does not make a lot of difference to the price - Some funds (like small cap or vice versa) have to buy and others (like large cap or vice versa) have to sell. Just dumb money changing hands ...
Correct me if I’m wrong, but to my knowledge index rebalancing occurs at the end of the trading day, vs transactions showing in market depth during morning trading?
I’d be keen to know as rebalancing of other stocks appears to have occurred after 4:45pm today.
If it wasn’t re balancing, perhaps we will see a change to or a new substantial holder notice next week?
I would not think that there are any stock exchange rules related to the time of the day when index rebalancing is supposed to happen, and I would be surprised if the funds limit themselves to certain times of the day.
As well, many of these rebalances are done internally - who would care at what time of the day it happens and how would you check?
What stock exchanges are doing is extending the trading hours and the evening auction to make it easier for the funds to get into the auctions for any shares they have to rebalance externally. Just an offer for the funds, attending is not compulsary unless the fund rules would require that from the respective fund (not sure about the self set rules for our index funds).
I see that it wasn’t re-balancing causing that on market transaction last Friday. Mawer global small cap fund, so that’s now two Mawer funds each with over 5% holdings. Good to see that the big boys see value at this SP level.
A 16.5% return(my spellcheck put brethren in:)) over 10 years for that fund shows they are pretty savvy.
Credit Suisse is another insto to declare SSH notice of more than 5%...
Good to see more good news. Doesn't have much of an impact on SP though. I would have thought sentiment would have changed following several SSH notices and several profit upgrades. What exactly is Mr Market waiting for? (still trading significantly down on pre share split value).