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Dow Jones Brazil Titans 20 ADR Index to underlie Samsung exchange-traded fund

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Dow Jones Indexes has licensed the Dow Jones Brazil Titans 20 ADR Index to Samsung Investments, a Korean investment management company, as the underlying basis for an exchange-traded fund,

Dow Jones Indexes has licensed the Dow Jones Brazil Titans 20 ADR Index to Samsung Investments, a Korean investment management company, as the underlying basis for an exchange-traded fund, the first time the index has been licensed to underlie an ETF.

The Dow Jones Brazil Titans 20 ADR Index measures the American Depository Receipt prices of the 20 largest and most liquid Brazilian stocks listed on the New York Stock Exchange, American Stock Exchange or Nasdaq.

 ‘The Dow Jones Brazil Titans 20 ADR Index is unique in that it combines the advantages of liquid and US-dollar denominated ADRs listed at major US stock exchanges with the transparent and rules-based methodology of the Dow Jones Titans indexes,’ says Michael A. Petronella, president of Dow Jones Indexes.

Jaekyu Bae, a managing director in the index and alternative division at Samsung Investments, says: ‘We have chosen the Dow Jones Brazil Titans 20 ADR Index to serve as underlying as it monitors the performance of 20 leading companies in Brazil, one of the most dynamically evolving markets in South America.’

The index was launched in November 2004 as part of the Dow Jones Country Titans index series that comprises blue-chip indices for Australia, Brazil, Canada, Cyprus, Egypt, France, Germany, Hong Kong, Italy, Japan, Kuwait, the Netherlands, Russia, South Africa, South Korea, Spain, Sri Lanka, Sweden, Switzerland, Turkey and the UK.

Historical data for the Brazil Titans 20 ADR Index is available back to December 31, 2000. The index is weighted by float-adjusted market capitalisation and reviewed annually in March. Individual components are capped at 25 per cent and the five largest companies are capped 50 per cent of the total index to prevent dominance by any one company.

Best known for the Dow Jones Industrial Average, Dow Jones Indexes is also co-owner of the Dow Jones Stoxx indices (it owns Stoxx in partnership with Deutsche Börse and Swiss Exchange) and together with Wilshire Associates it provides the Dow Jones Wilshire Global Index family, which is anchored by the Dow Jones Wilshire 5000 and covers more than 12,000 securities in 61 markets. Dow Jones Indexes also maintains various alternative indices, including measures of the hedge fund and commodity markets.

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