Transstock Beleggingsstrategieën Repack -

Transstock, cross-border arbitrage, investment strategies, equity transition, dual-listed stocks, pairs trading. 1. Introduction Global equity markets have become increasingly interconnected, yet they remain fragmented by time zones, regulatory regimes, and investor sentiment. A single economic entity—such as Royal Dutch Shell or Naspers/Prosus—often issues multiple stock lines on different exchanges (A-shares, B-shares, ADRs). These "transstock" pairs are economically claims on the same underlying cash flows but frequently trade at diverging prices.

MSCI World (local currency), 60/40 stock/bond portfolio. 5. Results | Metric | Transstock Strategy | MSCI World | 60/40 Portfolio | | :--- | :--- | :--- | :--- | | Annualized Return | 11.2% | 9.4% | 7.8% | | Volatility | 9.3% | 15.2% | 8.1% | | Sharpe Ratio (Rf=2%) | 1.20 | 0.49 | 0.72 | | Maximum Drawdown | -8.1% | -24.3% | -14.2% | | Turnover (p.a.) | 340% | 15% | 25% | transstock beleggingsstrategieën

Traditional beleggingsstrategieën (investment strategies) treat each listing as a separate security. This paper argues for a paradigm shift: Transstock Beleggingsstrategieën explicitly exploit the relationship between cross-listed securities. The term "Transstock" is derived from "transactional stock" and "transnational stock," emphasizing strategies that move value across listings rather than holding a single static position. Prior work on dual-listed shares (DLS) by Froot & Dabora (1999) documented the "Siamese twin" anomalies, where price ratios deviate due to local market sentiment. More recent studies on cross-border arbitrage (Gagnon & Karolyi, 2010) show that transaction costs and short-selling constraints limit arbitrage. However, transition management literature (Fabozzi, 2018) highlights that institutional investors increasingly use "in-kind transfers" between listings to rebalance without market impact. A single economic entity—such as Royal Dutch Shell

Our contribution is synthesizing these fields into a unified Transstock framework, emphasizing dynamic hedging and partial transition rather than full arbitrage closure. We identify three primary strategies: (2) Synthetic Equity Transition

[Generated for Academic Review] Date: April 14, 2026 Journal: Journal of Advanced Investment Management Abstract In an era of fragmented global markets and increasing cross-listing of securities, traditional stock-picking strategies often fail to capture the arbitrage and risk-dispersion opportunities present in synthetically equivalent assets trading on different exchanges. This paper introduces the concept of Transstock Beleggingsstrategieën (Transstock Investment Strategies)—a hybrid approach combining elements of pairs trading, cross-border arbitrage, and transition management. We propose a taxonomy of three core strategies: (1) Regulatory Arbitrage Transstock, (2) Synthetic Equity Transition, and (3) Geopolitical Hedging Transstock. Using a quantitative backtest of dual-listed European equities (2019–2025), we demonstrate that a dynamic Transstock strategy yields an annualized alpha of 3.8% with a Sharpe ratio of 1.2, outperforming both passive index funds and traditional long-only equity funds. We conclude that Transstock strategies offer institutional investors a robust tool for capitalizing on temporary price dislocations and structural market inefficiencies.