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STOXX Ltd., the operator of Deutsche Boerse Group’s index business, and a global provider of innovative and tradable index concepts, today announced that the EURO STOXX Select Dividend 30 Index has been licensed to Mirae Asset Global Investments, a leading Korean asset management firm, to underlie an exchange-traded fund (ETF). The ETF will be listed on Korea Stock Exchange as of today.
“The EURO STOXX Select Dividend 30 Index is part of STOXX’s innovative smart-beta offering. As we weigh the components in this index by dividend yield rather than market cap, it offers direct access to the performance of high-dividend paying companies,” said Matteo Andreetto, chief executive officer, STOXX Limited. “With the licensing of the EURO STOXX Select Dividend 30 Index to Mirae, we continue to strengthen our presence in the Korean market and look forward to further cooperation in the future.”
"We are pleased to license the EURO STOXX Select Dividend 30 Index as the underlying for our ETF in Korea. We are providing a variety of investment vehicles to investors, so that we can meet the various demand of the local market. In that sense, this partnership will pave the way to achieve our vision,” said Seo Yoo Seok, chief officer of the ETF Business Unit, Mirae Asset Global Investments.
The underlying universe of the EURO STOXX Select Dividend 30 Index is the EURO STOXX Index. The EURO STOXX Select Dividend 30 Index measures the performance of the 30 highest dividend-yielding stocks relative to their home market. To be included in the EURO STOXX Select Dividend 30 Index, stocks must have a positive, five-year dividend-per-share (DPS) growth rate and a defined dividend to earnings-per-share (EPS) ratio. For the selection, components are sorted by an outperformance factor to their home market and ranked accordingly. A minimum liquidity level and a buffer rule are applied. The EURO STOXX Select Dividend 30 Index is weighted based on net-dividend yields, with an additional weighting cap of 15% for individual components. The index is reviewed on an annual basis in March. The EURO STOXX Select Dividend 30 Index is calculated in price, net and gross return versions and is available in AUD, CAD, CHF, EUR, GBP, JPY and USD. Daily historical data is available from Dec. 30, 1998.
Please visit www.stoxx.com for further information.
