Methodology Change | Solactive L&G Gender in Leadership UK Index | Solactive United Kingdom Infrastructure Investment Trust Index | Solactive Asia Ex-Japan Technology & Internet Tigers Index | Solactive Global 200 Ex-Australia Index | Solactive US Free Cash Flow Yield Index | Solactive US Momentum Index | Effective Date 30 May 2019
Today, on 12 April 2019, Solactive announces the following changes to the methodology of the following Indices (the ‘Affected Indices’):
NAME OF THE INDICES | INDEX RIC | INDEX ISIN |
Solactive L&G Gender in Leadership UK GTR Index | .SOLGIRLG | DE000SLA5DP4 |
Solactive L&G Gender in Leadership UK NTR Index | .SOLGIRLN | DE000SLA5DN9 |
Solactive L&G Gender in Leadership UK PR Index | .SOLGIRLP | DE000SLA5DM1 |
Solactive United Kingdom Infrastructure Investment Trust Index GTR | .SOLIITG | DE000SLA5ZV5 |
Solactive United Kingdom Infrastructure Investment Trust Index NTR | .SOLIITN | DE000SLA5ZU7 |
Solactive United Kingdom Infrastructure Investment Trust Index PR | .SOLIITP | DE000SLA5ZT9 |
Solactive Asia Ex-Japan Technology & Internet Tigers Index NTR | .SOLATECN | DE000SLA5WQ2 |
Solactive Asia Ex-Japan Technology & Internet Tigers Index PR | .SOLATECP | DE000SLA5WN9 |
Solactive Asia Ex-Japan Technology & Internet Tigers Index TR | .SOLATECT | DE000SLA5WP4 |
Solactive Global 200 Ex-Australia Index NTR | .SDXA200N | DE000SLA5WM1 |
Solactive Global 200 Ex-Australia Index PR | .SDXA200P | DE000SLA5WK5 |
Solactive Global 200 Ex-Australia Index TR | .SDXA200T | DE000SLA5WL3 |
Solactive US Free Cash Flow Yield Index NTR | .SOLUFCFN | DE000SLA5X01 |
Solactive US Free Cash Flow Yield Index PR | .SOLUFCFP | DE000SLA5XZ1 |
Solactive US Free Cash Flow Yield Index TR | .SOLUFCFT | DE000SLA5X19 |
Solactive US Momentum Index NTR | .SOLUMMN | DE000SLA5XX6 |
Solactive US Momentum Index PR | .SOLUMMP | DE000SLA5XW8 |
Solactive US Momentum Index TR | .SOLUMMT | DE000SLA5XY4 |
Rationale for methodology change
The indices of the Solactive Global Benchmark Series (“GBS”) serve as the base universe for all Affected Indices. Solactive has determined that the current setup may lead to situations where an Affected Index’s Selection Day takes place prior to the Selection Day of its respective GBS base index. Hence the base universe would not reflect the latest, updated composition and free float figures of the GBS base index. Since the Selection Date in the GBS base index is determined as a function of the Adjustment Date and, in the event of a shift in the Adjustment Date due to, for example, stock exchange closures, the Selection Days are also shifted, which means that the selection days of any index that is derived from GBS can only be aligned by synchronizing the adjustment days.
The adjustment to the Affected Indices’ guidelines aligns their periodical Selection Days and Adjustment Days with the periodical updates of the GBS indices (semi-annual index adjustment, quarterly IPO Review). By doing so, it will be achieved that all Affected Indices always reflect the latest selection of the respective GBS index as their base universe and free float figures used in the selection or weighting of the Affected Index’s new components are in line with the respective GBS base index. This change is aimed to ensure that the Affected Indices and their components reflect the latest available market environment and data available through their respective GBS base index.
Changes to the Index Guidelines
The amendments to and addition of some definitions in Section 4 of the relevant index guidelines will be implemented as follows:
A.With respect to the following indices:
NAME | INDEX RIC | INDEX ISIN |
Solactive L&G Gender in Leadership UK GTR Index | .SOLGIRLG | DE000SLA5DP4 |
Solactive L&G Gender in Leadership UK NTR Index | .SOLGIRLN | DE000SLA5DN9 |
Solactive L&G Gender in Leadership UK PR Index | .SOLGIRLP | DE000SLA5DM1 |
- The definition “Adjustment Day” is amended from:
“Adjustment Day” is the close of the first Wednesday in May and November.
to:
“Adjustment Day” is the close of the first Wednesday in May and November. If that day is not an Eligible Rebalancing Day, the Adjustment Day will be the following Eligible Rebalancing Day.
- The following new definition is added to Section 4.
“Eligible Rebalancing Day” is each day that is a Trading Day at the New York Stock Exchange, the London Stock Exchange, the EUREX Exchange and the Tokyo Stock Exchange.
B. With respect to the following indices:
NAME | INDEX RIC | INDEX ISIN |
Solactive United Kingdom Infrastructure Investment Trust Index GTR | .SOLIITG | DE000SLA5ZV5 |
Solactive United Kingdom Infrastructure Investment Trust Index NTR | .SOLIITN | DE000SLA5ZU7 |
Solactive United Kingdom Infrastructure Investment Trust Index PR | .SOLIITP | DE000SLA5ZT9 |
- The definition “Business Day”:
A “Business Day” is any day on which London Stock Exchange is open for trading.
is replaced with:
“Business Day” is any weekday from Monday through Friday.
- The definition “Eligible Rebalancing Day”:
“Eligible Rebalancing Day” is each day that is a Trading Day at the London Stock Exchange.
is replaced with:
“Eligible Rebalancing Day” is each day that is a Trading Day at the New York Stock Exchange, the London Stock Exchange, the EUREX Exchange and the Tokyo Stock Exchange.
C. With respect to the following indices:
NAME | INDEX RIC | INDEX ISIN |
Solactive Asia Ex-Japan Technology & Internet Tigers Index NTR | .SOLATECN | DE000SLA5WQ2 |
Solactive Asia Ex-Japan Technology & Internet Tigers Index PR | .SOLATECP | DE000SLA5WN9 |
Solactive Asia Ex-Japan Technology & Internet Tigers Index TR | .SOLATECT | DE000SLA5WP4 |
Solactive US Free Cash Flow Yield Index NTR | .SOLUFCFN | DE000SLA5X01 |
Solactive US Free Cash Flow Yield Index PR | .SOLUFCFP | DE000SLA5XZ1 |
Solactive US Free Cash Flow Yield Index TR | .SOLUFCFT | DE000SLA5X19 |
- The definition “Adjustment Day” is amended from:
The “Adjustment Day” is the close of the first Wednesday in May and November. If that day is not a Business Day, the Adjustment Day will be the following Business Day.
to:
“Adjustment Day” is the close of the first Wednesday in May and November. If that day is not an Eligible Rebalancing Day, the Adjustment Day will be the following Eligible Rebalancing Day.
- The following new definition is added to Section 4.
“Eligible Rebalancing Day” is each day that is a Trading Day at the New York Stock Exchange, the London Stock Exchange, the EUREX Exchange and the Tokyo Stock Exchange.
D. With respect to the following indices:
NAME | INDEX RIC | INDEX ISIN |
Solactive Global 200 Ex-Australia Index NTR | .SDXA200N | DE000SLA5WM1 |
Solactive Global 200 Ex-Australia Index PR | .SDXA200P | DE000SLA5WK5 |
Solactive Global 200 Ex-Australia Index TR | .SDXA200T | DE000SLA5WL3 |
Solactive US Momentum Index NTR | .SOLUMMN | DE000SLA5XX6 |
Solactive US Momentum Index PR | .SOLUMMP | DE000SLA5XW8 |
Solactive US Momentum Index TR | .SOLUMMT | DE000SLA5XY4 |
- The definition “Adjustment Day” should is amended from:
The “Adjustment Day” is the close of the first Wednesday in February, May, August and November. If that day is not a Business Day, the Adjustment Day will be the following Business Day.
to:
“Adjustment Day” is the close of the first Wednesday in February, May, August and November. If that day is not an Eligible Rebalancing Day, the Adjustment Day will be the following Eligible Rebalancing Day.
- The following new definition is added to Section 4.
“Eligible Rebalancing Day” is each day that is a Trading Day at the New York Stock Exchange, the London Stock Exchange, the EUREX Exchange and the Tokyo Stock Exchange.
Defined terms used in this announcement, but not defined herein, have the meaning assigned to them in the respective Index Guideline of the Affected Indices and the GBS base index.