STOXX Limited, the market-moving provider of innovative, substantial and global index concepts, has announced the results of the annual review of the STOXX Select Dividend Index series and the STOXX Global Grand Prix Index; as well as the result of the semi-annual review of the STOXX TMI Growth and STOXX TMI Value indices, its respective large, mid- and small sub-indices and the respective indices for the euro zone.
Furthermore, the results of an extraordinary review of the STOXX Sustainability Indices are being announced as Bank Sarasin & Co Ltd took over the research and analysis for the indices earlier this year. All changes will be effective on March 21, 2011.
The STOXX Sustainability Indices have been reviewed extraordinarily as Bank Sarasin took over the research and analysis of the index components earlier this year. While the methodology of the indices remains unchanged, components are now selected from the STOXX Europe 600 Index according to Bank Sarasin’s rating. In order to be included in the STOXX Sustainability Indices, a company must reach a “positive overall sustainability rating” according to Bank Sarasin’s Sustainability Matrix. The rating is composed of “industry rating” and “company rating.”
To become eligible for the index, companies operating in industries with relatively low “industry ratings” (high sustainability-related risks such as environmental impacts) are required to achieve a much higher “company rating” (which measures the company’s actions to manage and reduce these risks) than companies operating in industries with higher “industry ratings.” Bank Sarasin’s ratings cover almost all companies in the STOXX Europe 600 Index, which offers users of the STOXX Sustainability Indices a broader index base. Furthermore, the combination of “company” and “industry rating” in the Sustainability Matrix ensures high standards in terms of index component selection. A full explanation of Bank Sarasin’s Sustainability Matrix can be found in the STOXX Index guide (http://www.stoxx.com/download/indices/rulebooks/stoxx_indexguide.pdf).
Effective with the open of European markets on March 21, 2011, the number of components in the STOXX Europe Sustainability Index will increase to 342 from 157 components, and the number of components in the EURO STOXX Sustainability Index will increase to 168 from 87 components.
The STOXX Sustainability Index family also includes two specialized indices that exclude companies that generate revenues from alcohol, gambling, tobacco, armaments, firearms (AGTAF) and adult entertainment (AGTAFA). Both are available for Europe and the euro zone.
Effective with the open of European markets on March 21, 2011, the number of components in the STOXX Europe Sustainability ex AGTAF and STOXX Europe Sustainability ex AGTAFA indices will increase to 322 from 137 components, and 322 from 135 components, respectively. In the EURO STOXX Sustainability ex AGTAF Index, the number of components will increase to 157 from 74; as well as in the EURO STOXX Sustainability ex AGTAFA where the component number will increase to 157 from 73.
The new composition of all STOXX Sustainability Indices will be published on www.stoxx.com with the open of European markets on March 21, 2011.
Effective as of the open of European markets on March 21, 2011, 13 components will be replaced in the STOXX Global Select Dividend 100 Index. The index comprises the 100 highest dividend-paying companies in the three regions of the STOXX Global 1800 Index.
As of March 4, 2011, the dividend yield of the reconstituted STOXX Global Select Dividend 100 Index increased to 4.29% from 4.63%. The dividend yield of the STOXX Europe Select Dividend 30 Index increased to 5.40% from 4.08% and the dividend yield of the EURO STOXX Select Dividend 30 Index increased to 4.36% from 4.08%. The dividend yield of the STOXX Nordic Select Dividend 20 Index rose to 3.42% from 3.38% and the dividend yield of the STOXX EU Enlarged Select Dividend 15 Index increased to 8.99% from 7.37%.
Changes in the STOXX Select Dividend Index series are being announced today after the conclusion of a regular annual component review.
The STOXX Global Grand Prix Index measures the performance of publicly traded companies globally that are supporters or supplies of Formula One teams, including engine manufacturers, tire suppliers, oil/fuel suppliers and title sponsors. Changes in the index are being announced today after the conclusion of a regular annual component review.
As of February 28, 2011, the total free-float market capitalization of the reconstituted STOXX Global Grand Prix Index decreased to € 839 billion from € 843 billion.
Changes in the STOXX Global Grand Prix Index are being announced today after the conclusion of a regular annual component review.
The STOXX Europe Style Indices include three categories: growth, value and neutral. Effective with the opening of European markets on March 21, 2011, the number of components in the STOXX Europe TMI Growth Index will increase to 388 from previously 365 components, and the number of components in the STOXX Europe TMI Value Index will decrease to 313 from 350 components.
Reasons for component changes in STOXX Europe TMI Growth and Value indices can be the change of style characteristics of an index component from growth to value, or vice versa, as well as the addition of a component stock as the result of its initial public offering (IPO).
Changes in the STOXX Europe TMI Growth and STOXX Europe TMI Value indices, its respective large, mid- and small sub-indices as well as the respective indices for the euro zone, are being announced today after the conclusion of a regular semi-annual component review.
The adjusted component weightings, including the number of shares and free-float factors for all reviewed indices will be announced on March 11, 2011 after the close of markets. All changes will be effective as of the open of markets on March 21, 2011.
