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Solactive US Internet Index used as the basis for IBI ETF on Tel Aviv Stock Exchange

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The Solactive US Internet Index is being used as the underlying index for IBI’s newly-launched ETF, IBI (4D) SAL Solactive US Internet, which is now trading on the Tel Aviv Stock Exchange.

The index tracks the performance of US companies operating in the Internet sector with a minimum market capitalisation of USD500 million. These companies provide Internet-related goods or services, and are involved in activities such as network communications, Internet access, Internet infrastructure, Internet software, e-commerce, website design, web hosting, and cloud computing.
 
Starting from the Solactive US Broad Market Index, the index selects companies that generate most of their revenues from the Internet. Examples of constituents include Twitter, Ebay, Paypal, Morningstar, and Yelp.
 
Timo Pfeiffer, Head of Research at Solactive, says: “The Internet has become one of the main drivers of business growth and we are happy that IBI Investment House has chosen Solactive to offer access to this theme. Through this index, investors can get an overview of the Internet sector in the US, understand who the major players are, and gain investment exposure in proportion to their market capitalization. The Solactive US Internet Index is also an example of how thematic investment strategies can be successfully built from our benchmarks.”
 
Shai Sasportas, Head of ETF sector, IBI Investment House, says: “We are pleased to deepen the relationship and cooperation with Solactive. After IBI’s success in using Solactive real estate indices, we decided to expand our cooperation and enter into the growing and interesting Internet sector.”
 
The index is calculated as a net total return index and is denominated in USD. The companies are weighted by market capitalisation with a maximum cap of 10 per cent per index constituent. The index includes 60 companies, with Amazon, Facebook, and Netflix as the top three components.
 

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