The FTSE/ATHEX Index Advisory Committee met today to approve the semi review - which will be implemented after the close of business on the last Friday of November 2012 -, in line with the new index structure of the FTSE/ATHEX Index Series.
Briefly, the new structure involves the following changes:
- FTSE/ATHEX 20 will be renamed as FTSE/ATHEX Large Cap index and will have 25 constituents instead of 20
- FTSE/ATHEX 20 Capped will be renamed as FTSE/ATHEX Large Cap Capped and will have 25 constituents instead of 20
- FTSE/ATHEX 20 Net Total Return will be renamed as FTSE/ATHEX Large Cap Net Total Return index and will have 25 constituents instead of 20
- FTSE/ATHEX Mid Cap index will have 20 constituents instead of 40
- The calculation of FTSE/ATHEX Small Cap Index will cease permanently.
- The calculation of FTSE/ATHEX Liquid Mid Index will cease permanently.
- FTSE/ATHEX Market Index will continue to be calculated as a benchmark index which captures the performance of the constituents of the FTSE/ATHEX Large Cap index, FTSE/ATHEX Mid Cap index and all companies that fulfil the index ground rules criteria.
- Sector indices will be calculated based on the constituents of FTSE/ATHEX Market index.
Taking into consideration ATHEX listed company?s performance, for the period April to September 2012 the results of the review are the following:
- FTSE/ATHEX Large Cap
Six (6) additions, one (1) deletion and two (2) investability weight changes. After review the constituents will be twenty five (25) securities. - FTSE/ATHEX Large Cap Net Total Return
Six (6) additions, one (1) deletion and two (2) investability weight changes. After review the constituents will be twenty five (25) securities. - FTSE/ATHEX Large Cap Capped Index
Six (6) additions, one (1) deletion and two (2) investability weight changes. After review the constituents will be twenty five (25) securities.
The new capping factors will be calculated after the close of business on the second Friday of December and all changes will be implemented after the close of business on the third Friday of December. - FTSE/ATHEX Mid Cap
Six (6) additions, twenty six (26) deletions and zero (0) investability weight change. After review the constituents will be twenty (20) securities. - FTSE/ATHEX Liquid Mid
The calculation of the index is ceased.
FTSE/ATHEX-CSE Banking Index
Zero (0) additions, deletions or investability weight changes. After review the constituents will be seven (7) securities.- FTSE/ATHEX Small Cap
The calculation of the index is ceased. - FTSE/ATHEX Market Index
Seven (7) additions, twelve (12) deletions and two (2) investability weight changes. After the review the index constituents will be fifty eight (58) securities. - FTSE/ATHEX Sector Indices
All changes in the composition of FTSE/ATHEX Market Index will be applied in the composition of the relevant FTSE/ATHEX Sector Indices. Based on that, the calculation of the Indices:- FTSE/ATHEX Chemicals,
- FTSE/ATHEX Media
will start again at their close price on May 25, 2012 when the calculation ceased temporarily due to the lack of eligible securities.
Furthermore, the committee approved a number of changes to the FTSE/ATHEX Index Ground Rules in order to reflect the implementation of the new structure. The key points are the following:
- Apply new buffers for inclusion and exclusion from the two main indices. Since the constituents of FTSE/ATHEX Large Cap index are to be increased by 5, the buffers must also change to 20 for fast inclusion and 31 for exclusion instead of 15 and 25. Accordingly the buffers for the FTSE/ATHEX Mid Cap index will change to 35 for fast inclusion and 56 for exclusion.
- Apply changes to reflect the cease of calculation of the FTSE/ATHEX Liquid mid and FTSE/ATHEX Small Cap indices
- Apply changes to reflect the rename of FTSE/ATHEX 20 Index to FTSE/ATHEX Large Cap Index.
All changes are effective from Monday December 03, 2012.
See all changes in the file attached.