Market Vectors Index Solutions (MVIS) has introduced the Market Vectors Australia Index, a pure-play Australian benchmark index that is calculated and distributed as a capped, uncapped and equally weighted index version.
Market Vectors Australia Index (MVAUS), Market Vectors Australia Uncapped Index (MVAUSU) and Market Vectors Australia Equal Weight Index (MVMVW) are comprised of the same companies but with different weighting schemes.
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A licensing agreement to make the indices available as underlying for exchange-traded funds (ETFs) is expected to be signed soon.
MVAUS applies a capping to single index companies to ensure that financial products based on this index meet regulatory and diversification requirements.
In the uncapped index version companies retain their full weighting, leading to an index that is not necessarily as diversified as the capped index version. MVMVW, the equally weighted index, provides the broadest diversification.
Instead of tilting towards larger companies, this index assigns the same weights to all of its components. Index weightings are detached from the actual size of a company, thus all index components have the same impact on the index performance.
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By GlobalDataThe set of new Australian indices follow the same quality standards as all Market Vectors Indices. A demanding set of rules is applied to ensure liquidity and transparency and to provide an investable and ideal index tool which is especially suited to underlie ETFs.
The indices are distributed between 10am and 5pm Sydney time as price, total return and total return gross indices and are calculated in local currency (AUD).
Key Index Features
Full market capitalization (in billion USD): 1,256. No of components: 74. Base date/Base value: 31.12.2002/1000.
