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MVIS licenses Australia Equal Weight Index


Market Vectors Index Solutions (MVIS) has licensed the Market Vectors Australia Equal Weight Index to Market Vectors Australia, the Australian exchange-traded fund branch of Van Eck Global.

The index serves as the underlying for the Market Vectors Australia Equal Weight ETF (MVW) which has now begun tracking the index.
“We are very pleased to have licensed our Australia Equal Weight Index to Market Vectors Australia and believe that its specific weighting characteristic will be attractive for an ETF tracking this index,” says Lars Hamich, chief executive officer at MVIS.
“Compared to a traditional Australian market cap-weighted index, the Market Vectors Australia Equal Weight Index is less concentrated in large-cap companies. Its equal weighting scheme changes the large-, mid- and small-cap weighting from an 80 per cent large- and 15 per cent mid-cap to a balanced 55 per cent large- and 45 per cent mid-cap breakdown. Due to the increased weighting in mid-cap companies the equal weight index has outperformed the market cap weighted index in ten out of 13 years.”
MV Australia Equal Weight Index currently contains 77 components. The index is calculated as a price, total return net and total return gross index using AUD prices and is reviewed quarterly. Index history is available back to December 2002.

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