Iceland Stock Exchange (ICEX) has according to the introduction of Act No. 30/2003, on Units for Collective Investment in Transferable Securities (UCITS) and Investment Funds decided to change the representation of listed companies on its market reports. Equity funds will no longer be categorised apart from other listed companies since this separation no longer applies under the new law. According to the new law, the term ?equity fund? is used for an investment fund that issues shares and operates under operating license granted by the Financial Supervisory Authority.
ICEX intends to adopt a different categorisation in the reports according to the above-mentioned law, thus reflecting the types of mutual funds that are listed on the Exchange.
This change of representation has no effect on the equities now included in the sectoral index of Equity funds and investment companies, however, the name of the index will be changed to Investment companies. Changes will be effective as of 1 July 2003.
