As previously announced, several new indices are to be introduced this year. The first is the SPI EXTRATM which was launched yesterday, 29 April 2004.
This newly created index offers investors the opportunity to follow the general development of the small- and mid-cap universe of shares outside of the SMI®.
To facilitate comparability with the SPI®, SPI® mid-cap, SPI® small-cap and SMI®, data for the SPI EXTRATM have been calculated retroactively and reflected accordingly.
The following table reveals that, during the calculation time frame between 3 January 1996 and 31 March 2004, the SPI EXTRATM recorded on balance a higher level of performance and lower degree of volatility than the overall market and other Swiss benchmark indices.
| Average | SPI EXTRATM | SPI® S&M Caps | SPI® | SMIC* |
| Annual performance since 3 January 1996 |
11.32% | 9.75% | 8.13% | 7.97% |
| Annual volatility since 3 January 1996 |
12.40% | 13.82% | 19.47% | 21.33% |
| * SMI® cum dividend |
Quick Facts:
| Method of calculation | Laspeyres free-float; capital-weighted |
| Initial standardisation | Total Return Index: 31 December 1999 = 1000 Price Index: 31 December 1999 = 100 |
| Historical data | Since 3 January 1996 |
| Launch | 29 April 2004 |
| Publication | Every 3 minutes |
| Number of issues | 205 (status 31 March 2004) |
| Universe | SPI® excluding SMI® and SPI® Large-Caps |
| Index-basket review | Annually, as at 1 October |
| Adjustment of number of issues (free float) |
1 April and 1 October |
| Capitalisation (as at 31 March 2004) |
SPI EXTRATM: CHF 79,409 bln. SPI®: CHF 764,458 bln. |
These and other important details on the new index can be found in the enclosed factsheet.
Further information, such as the revised SPI® Rules, can be accessed via the following SWX Internet URL: http://www.swx.com/products/indices/products_spi_en.html.
«Listed on SWX» guides you to additional information on the SPI® Family as well as the SPI EXTRATM:
Should you have any further questions in this regard, please feel free to contact the SWX Indices department, tel. +41 (0)58 854 22 80.
Very truly yours
SWX Swiss Exchange
| Cédric Donzé | Frances Bornstein |
| Head of SWX Indices | Projekt Head |
