S&P/ASX 200 Index (AXJO)

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Revision as of 17:38, October 21, 2008

S&P/ASX 200 Index is the investable benchmark for the Australian Securities Exchange. It measures the performance of the 200 largest index eligible stocks list on the exchange. The index is float-adjusted, covering approximately 80% of Australian equity market capitalization.

1 Composition
- 1.1 Eligibility
- 1.2 Sector Breakdown
2 References

Composition

Eligibility

To be eligilbile for inclusion in the ASX 200 Index^[1] :

Market Capitalization: A stock’s weight in the index is determined by the

float-adjusted market capitalization of the stock. This is a function of current index shares, the latest available stock price and the Investable weight factor (IWF). The IWF represents the float-adjusted portion of a stock’s equity capital. Therefore any strategic holdings that are classified as either corporate, private or government holdings reduce the IWF which, in turn, results in a reduction in the float-adjusted market capital. Shares owned by founders, directors of the company, trusts, venture capitalists and other companies are also excluded. These are also deemed strategic holders, and are considered long-term holders of a stock’s equity. Any strategic shareholdings that are greater than 5% of total issued shares are excluded from the relevant float.

Liquidity: The trading volume in terms of dollar value and the number of transactions must exceed at least 0.025% of the sum of all eligible securities' trading volume. To ensure that no single company dominates trading, they are capped at a maximum of 15% for value, volume and transactions.

Listing: Only stocks listed on the Australian Stock Exchange will be considered for inclusion in any of the S&P/ASX indices.

Sector Breakdown

^[2]

References

Retrieved from "http://www.wikinvest.com/index/S%26P/ASX_200_Index_(AXJO)"

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 To be eligilbile for inclusion in the ASX 200 Index<ref>[http://www2.standardandpoors.com/spf/pdf/index/SP_Australian_Indices_Methodology_Web.pdf ASX Methodology]</ref> :
-* Market Capitalization: A stock’s weight in the  index is determined by the
+* '''Market Capitalization:''' A stock’s weight in the  index is determined by the
 float-adjusted market capitalization of the stock. This is a function of current index
-shares, the latest available stock price and the Investable weight factor (IWF).
+shares, the latest available stock price and the Investable weight factor (IWF).  The IWF represents the float-adjusted portion of a stock’s equity capital. Therefore any strategic holdings that are classified as either corporate, private or government holdings reduce the IWF which, in turn, results in a reduction in the float-adjusted market capital. Shares owned by founders, directors of the company, trusts, venture capitalists and other companies are also excluded. These are also deemed strategic holders, and are considered long-term holders of a stock’s equity. Any strategic shareholdings that are greater than 5% of total issued shares are excluded from the relevant float.
-The IWF represents the float-adjusted portion of a stock’s equity capital. Therefore any strategic holdings that are classified as either corporate, private or government holdings reduce the IWF which, in turn, results in a reduction in the float-adjusted market capital.
+* '''Liquidity:''' The trading volume in terms of dollar value and the number of transactions must exceed at least 0.025% of the sum of all eligible securities' trading volume. To ensure that no single company dominates trading, they are capped at a maximum of 15% for value, volume and transactions.
-Shares owned by founders, directors of the company, trusts, venture capitalists and other companies are also excluded. These are also deemed strategic holders, and are considered long-term holders of a stock’s equity. Any strategic shareholdings that are greater than 5% of total issued shares are excluded from the relevant float.
+* '''Listing:''' Only stocks listed on the Australian Stock Exchange will be considered for inclusion in any of the S&P/ASX indices.
-* Liquidity: The trading volume in terms of dollar value and the number of transactions must exceed at least 0.025% of the sum of all eligible securities' trading volume. To ensure that no single company dominates trading, they are capped at a maximum of 15% for value, volume and transactions.
-* Listing: Only stocks listed on the Australian Stock Exchange will be considered for inclusion in any of the S&P/ASX indices.
 ===Sector Breakdown===