The data is updated on a daily basis at midnight SET.

Asia & Oceania:

green Bullish

yellow Neutral

red

 Bearish

The Director Sentiment indicator provides some information about the general bullish or bearish market sentiment conveyed by the aggregation of Asian/Oceanian directors’ dealings. The graphical indicator is based on the ratio of purchases and sales of stock. The indicated value is the standardized 30 day moving average of this value used to smoothen out transaction spikes.

Comments:

The research is based on analyzing all the director events we identify. A director event is defined as the aggregated director activity on a stock.

Altana Director Alignment Research Asia & Oceania

Daily Filings per Country

In Asia, directors’ dealings regulations depend substantially on the individual country. Generally, research suggests that the enforcement and insider trading laws in some Asian countries might be more lax than in the US (Shen, 2009). Such significant country differences merit detailed analyses.

The ADAS fund strategy is based on detailed country-level analysis, which leads to a sophisticated understanding of different categories of directors’ dealings. Hence, only a subset of all directors’ dealings are taken into account to inform profitable trades. This allows the fund strategy to outperform its benchmark over the long run while keeping the volatility at comparatively lower levels. Recent proprietary research for instance revealed that in Asia, director sentiment in terms of aggregated shares traded and transaction volumes can significantly predict future market returns.

All transaction data is collected from the most reliable sources including financial service regulators, accredited data providers, and the issuers themselves, and stored on Altana Wealth servers for analysis and trading purposes. The data is collected in real time on a continuous basis.

Asia

Oceania

Open Market and Derivative Purchase/Sell Data

Buy & Sell Activity

The Buy & Sell Activity table illustrates the volume of transactions pertaining to combined cash and derivative markets purchases (All Buy), combined cash and derivative markets sales (All Sell), derivative market purchases (Buy Div), and derivative market sales (Sell Div) after applying proprietary filters to eliminate transactions of low informational value. Only companies with a market capitalization of at least $250 million are included in this data set.

10 year Averages

The data is for t-3 business days as the SEC allows 2 business days to file.

Director Sentiment Ratio

Buy & Sell Ratio

The Buy-Sell Ratio is the ratio of director purchases in both the cash market and the derivative market over directors’ sales transactions.

Transaction Levels

Daily Transactions

The Filing and Transaction data illustrates the magnitude of filings and transactions that are stored on the Altana Wealth servers and analyzed by the algorithm. Every filing has at least one corresponding transaction.

Insider Position Distribution

Executive Board, Executive Committee, None Executive & Significant Shareholders

The Position Distribution illustrates the different categories of insiders that are being monitored. A Significant Shareholder is country specific and is characterized by having substantial interest in the company.

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Altana Wealth Limited is authorised and regulated by the "Financial Conduct Authority". Altana Wealth SAM is authorised and regulated by the "Commission de Contrôle des Activités Financières".

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