Market Vectors Index Solutions Licenses Australia Equal Weight Index
March 06 2014 - 6:00PM
Business Wire
Index underlies Market Vectors Australia
Equal Weight ETF
Market Vectors Index Solutions (MVIS) today announced the
licensing of the Market Vectors Australia Equal Weight Index
(MVMVWTRG) to Market Vectors Australia, the Australian
exchange-traded fund (ETF) branch of Van Eck Global, the 7th
largest provider of exchange-traded products in the US and the 10th
largest globally. The index serves as the underlying for the Market
Vectors Australia Equal Weight ETF (ASX: MVW) which began tracking
the index today.
“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”, said Lars Hamich, Chief Executive Officer at MVIS.
“Compared to a traditional Australian market cap-weighted index1,
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% large-
and 15% mid-cap to a balanced 55% large- and 45% 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 thirteen 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.
1 Containing the largest 200 Australian stocks
Market Vectors Australia Equal Weight Index
Full Market Capitalisation: (bn AUD): 1,283
Number of Components: 77
Base Date/Base Value: 31.12.2002/1000
Top 5 Companies by weighting:
Newcrest Mining (1.89%), Seek (1.66%), Incitec Pivot (1.63%),
Ramsay Health Care (1.52%), Boral (1.52%).
(Closing data as per 5 March 2014)
Detailed information about Market Vectors Australia Equal Weight
Index, including methodology details and comprehensive data is
available on www.marketvectorsindices.com.
Note to Editors:
About Market Vectors Index Solutions GmbH
Market Vectors Index Solutions GmbH (MVIS) develops, monitors
and licenses the Market Vectors Indices, a selection of focused,
investable and diversified benchmark indices which are especially
designed to underlie financial products. Market Vectors Indices
cover several asset classes, including hard assets and
international equity markets as well as fixed income markets and
are licensed to serve as underlying indices for financial
products.
Approximately USD 11.7 billion in assets under management are
currently invested in financial products based on Market Vectors
Indices. MVIS is a wholly owned subsidiary of Van Eck Associates
Corporation (also known as Van Eck Global).
Media:Market Vectors Index SolutionsLars Hamich, +49
(0)69 4056 695 10Lars.hamich@mvindices.comorMacMillan
CommunicationsMike MacMillan,
+1-212-473-4442mike@macmillancom.com