Also known as: SOLVPN2 Index (Bloomberg) · DE000SL0C6H3 (Solactive code) · .SOLVPN2 (RIC)
At a glance
- Weighting schemeFree float market cap
- Constituent countMinimum: 25; Maximum: 40
- Single cap12
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 21 fields | |||
| Rebalancing frequency | semi-annually | Rebalancing Frequency Semi-AnnuallyOpen p.4 ↗ |
The index is rebalanced semi-annually. |
| Index name | Solactive Data Center REITs & Digital Infrastructure v2 Index | The INDEX is published under the following identifiers: Name ISIN Currency Type RIC BBG ticker Solactive Data Center REITs & Digital DE000SL0C6H3 USDOpen p.4 ↗ |
The official index name is Solactive Data Center REITs & Digital Infrastructure v2 Index. |
| Index short name | SOLVPN2 Index | DE000SL0C6H3 USD NTR* .SOLVPN2 SOLVPN2 IndexOpen p.4 ↗ |
The Bloomberg ticker used as the index short name is SOLVPN2 Index. |
| Index code | .SOLVPN2 | DE000SL0C6H3 USD NTR* .SOLVPN2 SOLVPN2 IndexOpen p.4 ↗ |
The index RIC is .SOLVPN2. |
| ISIN | DE000SL0C6H3 | Solactive Data Center REITs & Digital DE000SL0C6H3 USD NTR* .SOLVPN2 SOLVPN2 Index Infrastructure v2 IndexOpen p.4 ↗ |
The index ISIN is DE000SL0C6H3. |
| Vendor codes | Bloomberg: SOLVPN2 Index; Refinitiv: .SOLVPN2 | DE000SL0C6H3 USD NTR* .SOLVPN2 SOLVPN2 IndexOpen p.4 ↗ |
The index is identified by the RIC .SOLVPN2 and Bloomberg ticker SOLVPN2 Index. |
| Administrator | Solactive AG | The INDEX is owned, calculated, administered and published by Solactive AG (“SOLACTIVE”) assuming the role as administratorOpen p.3 ↗ |
The index is owned, calculated, administered, and published by Solactive AG. |
| Calculation agent | Solactive AG | The INDEX is owned, calculated, administered and published by Solactive AG (“SOLACTIVE”) assuming the role as administratorOpen p.3 ↗ |
Solactive AG calculates the index. |
| Index family | Solactive Data Center REITs & Digital Infrastructure v2 | SOLACTIVE DATA CENTER REITS & DIGITAL INFRASTRUCTURE V2 INDEXOpen p.1 ↗ |
The index belongs to the Solactive Data Center REITs & Digital Infrastructure v2 index series. |
| Launch date | 2021-03-01 | The initial level of the INDEX on the 01/03/2021, the START DATE, is 1000. Historical values from the 01/03/2021, the LIVE DATEOpen p.4 ↗ |
The index start date and live date is 01 March 2021. |
| Base date | 2021-03-01 | The initial level of the INDEX on the 01/03/2021, the START DATE, is 1000.Open p.4 ↗ |
The initial index level is set on 01 March 2021. |
| Base value | 1,000 | The initial level of the INDEX on the 01/03/2021, the START DATE, is 1000.Open p.4 ↗ |
The initial index level is 1000. |
| Currency | USD | Solactive Data Center REITs & Digital DE000SL0C6H3 USD NTR* .SOLVPN2 SOLVPN2 IndexOpen p.4 ↗ |
The index is calculated in USD. |
| Methodology version | 2.1 | 2.1 2024-04-19 ADJUSTMENT/REBALANCE DAY DEFINITIONOpen p.17 ↗ |
The methodology version is 2.1. |
| Methodology date | 2024-04-19 | 2.1 2024-04-19 ADJUSTMENT/REBALANCE DAY DEFINITIONOpen p.17 ↗ |
Version 2.1 is dated 19 April 2024. |
| Benchmark type | Not stated | assuming the role as administrator (the “INDEX ADMINISTRATOR”) under the Regulation (EU) 2016/1011 (the “BENCHMARK REGULATION” or “BMR”).Open p.3 ↗ |
The document identifies Solactive as administrator under the EU Benchmark Regulation but does not state whether the index is regulated, significant, or non-significant. |
| Objective | Representation of securities of companies that have business operations in the field of data centers and/or cellular towers. | Representation of securities of companies that have business Strategy operations in the field of data centers and/or cellular towers.Open p.4 ↗ |
The index represents securities of companies with business operations in data centers and/or cellular towers. |
| Market classification | Custom | Regional Allocation GlobalOpen p.4 ↗ |
The index has a global regional allocation and a custom country universe covering Solactive developed markets plus South Korea, Taiwan, Indonesia, and emerging-market ADRs. |
| Size segment | Custom | SHARE CLASS MARKET CAPITALIZATION of at least USD 200 million for companies that are not Index ComponentsOpen p.6 ↗ |
The index uses a custom minimum share-class market capitalization rather than a standard size segment. |
| Index family type | Thematic | Asset Class Equity Representation of securities of companies that have business Strategy operations in the field of data centers and/or cellular towers.Open p.4 ↗ |
The index is a thematic equity index focused on data centers and cellular towers. |
| Limitations | Solactive does not guarantee index results or levels, strives to ensure correct calculation, has no duty to advise third parties of errors, and publication is not an investment recommendation. | SOLACTIVE does not offer any explicit or tacit guarantee or assurance, neither pertaining to the results from the use of the INDEX nor the level of the INDEXOpen p.3 ↗ |
Solactive provides no guarantee of index results or levels, has no obligation to advise third parties of errors, and publication is not an investment recommendation. |
| M2 Universe · 4 fields | |||
| Business scope | Companies must have business operations in data centers and/or cellular towers. | Representation of securities of companies that have business Strategy operations in the field of data centers and/or cellular towers.Open p.4 ↗ |
The index represents companies with business operations in data centers and/or cellular towers. |
| Markets | Solactive Developed Markets, South Korea, Taiwan, Indonesia, emerging markets via ADRs | Primary listing in one of the countries that are part of the Developed Markets as defined by the Solactive Country ClassificationOpen p.6 ↗ |
Eligible companies must have a primary listing in Solactive Developed Markets, South Korea, Taiwan, or Indonesia; ADRs of companies primarily listed in emerging markets are also eligible. |
| Security types | Common, Dr | Asset Class EquityOpen p.4 ↗ |
The universe comprises equity financial instruments, including primary-listed shares and ADRs of emerging-market companies. |
| Nationality rule | Country assignment is based on primary listing and the Solactive Country Classification; ADR eligibility depends on the company's primary-listing country being an emerging market. | Primary listing in one of the countries that are part of the Developed Markets as defined by the Solactive Country ClassificationOpen p.6 ↗ (not found verbatim in the PDF) |
The country rule is based on the primary listing country under the Solactive Country Classification, with ADRs assessed by the issuer's primary-listing country. |
| M3 Eligibility screens · 4 fields | |||
| Rule based universe determination | Yes | The determination of the INDEX UNIVERSE is fully rule-based and the INDEX ADMINISTRATOR cannot make any discretionary decisions.Open p.6 ↗ |
The index universe is determined fully by rules, and the index administrator has no discretion. |
| Liquidity screen | Metric: Average daily value; Window: last six months; Threshold: 2,000,000; Currency: USD; Buffer for existing: 1,400,000 | AVERAGE DAILY VALUE TRADED in the last six months of at least USD 2,000,000 for companies that are not Index ComponentsOpen p.6 ↗ |
Non-constituents must have average daily value traded of at least USD 2,000,000 over the last six months, while existing components must have at least USD 1,400,000. |
| Minimum size | Metric: Full market cap; Threshold: 200,000,000; Currency: USD; Buffer for existing: 160,000,000 | SHARE CLASS MARKET CAPITALIZATION of at least USD 200 million for companies that are not Index ComponentsOpen p.6 ↗ |
Non-constituents must have share-class market capitalization of at least USD 200 million, while existing components must have at least USD 160 million. |
| Minimum free float | 10% | FREE FLOAT percentage of total shares outstanding of at least 10% or a minimum FREE FLOAT MARKET CAPITALIZATION of USD 1 billion.Open p.6 ↗ |
A security must have free float of at least 10% of total shares outstanding or free-float market capitalization of at least USD 1 billion. |
| M4 Selection and constituent count · 9 fields | |||
| Revenue threshold | 50% | Companies are only eligible if they generate at least 50% of their revenues from data center and/or cellular tower related business operations.Open p.6 ↗ |
A company is eligible only if at least 50% of its revenues are generated from the relevant data center, cellular tower, or digital infrastructure business. |
| Theme categories | Data center companies, Cellular tower companies, Digital infrastructure hardware companies | This may include companies that: (i) Own, operate, and or develop data centers (including data center REITs) “DATA CENTER COMPANIES”; (ii) Own, operate, and or develop cellular towers (including cellular tower REITs) “CELLULAR TOWER COMPANIES”; (iii) Manufacture the servers and/or other hardware often used in data centers and cellular towersOpen p.6 ↗ |
The theme categories cover data centers, cellular towers, and hardware used in data centers and cellular towers. |
| Existing data center or tower buffer | Retain unless index score is no longer positive or relevant revenue falls below 50%. | A DATA CENTER COMPANY or CELLULAR TOWER COMPANY that is currently in the index is only excluded if it does not have a positive INDEX SCORE anymore or it generates less than 50% of its revenues from data center and/or cellular tower related business operations.Open p.7 ↗ |
An existing data center or cellular tower company is excluded only if it no longer has a positive index score or generates less than 50% of revenue from relevant operations. |
| Existing hardware buffer | Retain unless score is non-positive, relevant revenue is below 50%, or displaced by a data center or cellular tower company. | A DIGITAL INFRASTRUCTURE HARDWARE COMPANY that is currently in the index is only excluded if it does not have a positive Index Score, if it generates less than 50% of its revenues from its digital infrastructure related business operations, or if a DATA CENTER COMPANY or CELLULAR TOWER COMPANY is added.Open p.7 ↗ |
An existing hardware company is excluded if it lacks a positive index score, derives less than 50% of revenue from relevant operations, or is displaced when a data center or cellular tower company is added. |
| Selection method | Rank by metric | The algorithm then ranks the companies according to the frequency with which the company is referenced in relation to the specific keywords (“INDEX SCORE”).Open p.6 ↗ |
Eligible theme-exposed companies are ranked by an algorithmic index score and selected under fully rule-based category and count constraints. |
| Ranking metrics | Name: Index score keyword reference frequency; Direction: higher frequency results in higher rank; Step order: 1, Name: Average daily volume; Window: 6 months; Direction: higher volume preferred only for tied ranks; Step order: 2 | The algorithm then ranks the companies according to the frequency with which the company is referenced in relation to the specific keywords (“INDEX SCORE”).Open p.6 ↗ |
Companies are ranked by index score, measured as the frequency of references to the theme keywords; tied ranks are resolved by the highest six-month average daily volume. |
| Target constituent count | Minimum: 25; Maximum: 40 | All DATA CENTER COMPANIES and CELLULAR TOWER COMPANIES are included as INDEX COMPONENTS, up to a limit of 40 INDEX COMPONENTS. If there are fewer than 25 INDEX COMPONENTS after all DATA CENTER COMPANIES and CELLULAR TOWER COMPANIES have been included, DIGITAL INFRASTRUCTURE HARDWARE COMPANIES are included until the index reaches 25 INDEX COMPONENTS.Open p.7 ↗ |
Data center and cellular tower companies are included up to 40 constituents; hardware companies are added only if needed to reach 25 constituents. |
| Tie break rule | Highest average daily volume over last 6 months | If there are two or more companies that share a rank, then preference is given to the company with the highest average daily volume over the last 6 months.Open p.7 ↗ |
If two or more companies share a rank, preference is given to the company with the highest average daily volume over the preceding six months. |
| Industry neutrality rule | Category priority data center and cellular tower first then hardware | All DATA CENTER COMPANIES and CELLULAR TOWER COMPANIES are included as INDEX COMPONENTS, up to a limit of 40 INDEX COMPONENTS. If there are fewer than 25 INDEX COMPONENTS after all DATA CENTER COMPANIES and CELLULAR TOWER COMPANIES have been included, DIGITAL INFRASTRUCTURE HARDWARE COMPANIES are included until the index reaches 25 INDEX COMPONENTS.Open p.7 ↗ |
Selection prioritizes data center and cellular tower companies, with digital infrastructure hardware companies used only to reach the minimum count or under stated rank conditions. |
| M5 Weighting and capping · 9 fields | |||
| Hardware company cap (%) | 2% | (b) The maximum weight of a SERVER AND/OR HARDWARE COMPANY is 2.0%.Open p.8 ↗ |
Each server and/or hardware company has a maximum weight of 2.0%. |
| Minimum constituent weight (%) | 0.3% | (c) The minimum weight of a company is 0.3%.Open p.8 ↗ |
Each company has a minimum weight of 0.3%. |
| Individual cap for companies outside above 4 5 group (%) | 4.5% | The aggregate weight of companies weighted above 4.5% is capped at 45%. The remaining companies are capped at 4.5%.Open p.8 ↗ |
Companies not included in the group weighted above 4.5% are individually capped at 4.5%. |
| Excess weight redistribution | Excess weight is redistributed proportionally until all stated constraints are satisfied. | The excess weight that results from implementing these constraints is redistributed proportionally such that none of the above constraints are breached.Open p.8 ↗ |
Excess weight created by applying the constraints is redistributed proportionally without breaching any constraint. |
| Weighting scheme | Free float market cap | On each SELECTION DAY each INDEX COMPONENT is assigned a weight according to FREE FLOAT MARKET CAPITALIZATION subject to the following constraintsOpen p.8 ↗ |
Each index component is weighted according to free-float market capitalization, subject to minimum, maximum, and aggregate weight constraints. |
| Weight cap | 12% | (a) The maximum weight of a DATA CENTER COMPANY or CELLULAR TOWER COMPANY is 12.0%. (b) The maximum weight of a SERVER AND/OR HARDWARE COMPANY is 2.0%.Open p.8 ↗ |
The maximum weight is 12.0% for a data center company or cellular tower company and 2.0% for a server and/or hardware company. |
| Group cap | Aggregate (%): 45 | (d) The aggregate weight of companies weighted above 4.5% is capped at 45%. The remaining companies are capped at 4.5%.Open p.8 ↗ |
The aggregate weight of companies whose weights exceed 4.5% is capped at 45%, while the remaining companies are capped at 4.5% each. |
| Cap application timing | At review | On each SELECTION DAY each INDEX COMPONENT is assigned a weight according to FREE FLOAT MARKET CAPITALIZATION subject to the following constraintsOpen p.8 ↗ |
Weights and capping constraints are assigned on each selection day. |
| Divisor adjustment rule | The divisor is adjusted so that an event does not change the index level, using the ratio of post-event market capitalization or adjusted index value to pre-event value. | This change in Market Capitalization requires a Divisor adjustment to keep the index level constant.From Solactive Equity Index Methodology ↗ |
For divisor indices, corporate actions and some rebalances adjust the divisor to keep the index level continuous. |
| M6 Review and rebalance schedule · 5 fields | |||
| Extraordinary rebalance policy | Not permitted | The INDEX is not rebalanced extraordinarily.Open p.9 ↗ |
The index is not rebalanced extraordinarily. |
| Review types | Scheduled review, Ad hoc | — (not found verbatim in the PDF) |
|
| Data cutoff rule | Shares and weights used at the ordinary rebalance are those determined on the selection day. | This is carried out by implementing the shares as determined on the SELECTION DAY based on the weights calculated on the SELECTION DAY.Open p.9 ↗ |
The ordinary rebalance implements the shares and weights determined on the selection day. |
| Announcement rule | Ordinary rebalance: Solactive publishes constituent changes with sufficient notice before the rebalance day on its Announcement webpage; Corporate action adjustment: Solactive announces the adjustment with at least two trading days' notice for the affected component | SOLACTIVE will publish any changes made to the INDEX COMPONENTS with sufficient notice before the REBALANCE DAY on the SOLACTIVE webpage under the section “Announcement”Open p.9 ↗ |
Ordinary constituent changes are announced with sufficient notice before the rebalance day, and corporate-action adjustments receive at least two trading days' notice. |
| Effective date rule | Ordinary changes are implemented on the rebalance day after close of business; corporate-action adjustments take effect on the day specified in the notice. | the INDEX is adjusted on the REBALANCE DAY after CLOSE OF BUSINESS.Open p.9 ↗ |
Ordinary changes take effect after close of business on the rebalance day, while corporate-action adjustments are implemented on the effective day stated in the notice. |
| M8 Corporate actions, IPOs, ad-hoc changes · 8 fields | |||
| Corporate action timing | cum-day_to_ex-day | Corporate actions will be implemented from the cum-day to the ex-day of the corporate action, so that the adjustment to the INDEX coincides with the occurrence of the price effect of the respective corporate action.Open p.11 ↗ |
Corporate actions are implemented from the cum-day to the ex-day so the index adjustment coincides with the price effect. |
| Corporate action examples | cash distributions, stock distributions, stock distributions of another company, share splits, reverse splits, capital increases, share repurchases, spin-offs, mergers and acquisitions, Delistings, Nationalization, Insolvency | SOLACTIVE considers following, but not conclusive, list of corporate actions as relevant for INDEX maintenance: Cash DistributionsOpen p.11 ↗ |
The methodology lists cash and stock distributions, splits, capital increases, repurchases, spin-offs, mergers and acquisitions, delistings, nationalization, and insolvency as relevant corporate actions. |
| Unusual or complex action discretion | Solactive may deviate from standard procedures for unusual or complex corporate actions, or to preserve comparability and representativeness. | it retains the right in accordance with the Equity Index Methodology to deviate from these standard procedures in case of any unusual or complex corporate action or if such a deviation is made to preserve the comparability and representativeness of the INDEX over time.Open p.11 ↗ |
Solactive may deviate from standard corporate-action treatment for unusual or complex events or to preserve the index's comparability and representativeness. |
| Ad-hoc deletion | Delisting, Acquisition, Bankruptcy, Other | Mergers & Acquisitions (transaction in which the ownership of a company (or other business organizations) are transferred or consolidated with other entitiesOpen p.11 ↗ |
Relevant corporate actions include mergers and acquisitions, delistings, nationalization, and insolvency, among other events. |
| Merger spinoff rules | Corporate actions, including spin-offs and mergers and acquisitions, are adjusted between regular rebalances in accordance with the Equity Index Methodology and are implemented from cum-day to ex-day. | Corporate actions will be implemented from the cum-day to the ex-day of the corporate action, so that the adjustment to the INDEX coincides with the occurrence of the price effect of the respective corporate action.Open p.11 ↗ |
Spin-offs and mergers or acquisitions are handled as corporate actions between regular rebalances, implemented from cum-day to ex-day under the Equity Index Methodology. |
| Corporate actions guide ref | Equity Index Methodology | Adjustments to the INDEX to account for corporate actions will be made in compliance with the Equity Index Methodology, which is available on the SOLACTIVE websiteOpen p.11 ↗ |
Corporate-action adjustments are made in compliance with Solactive's Equity Index Methodology. |
| Replacement policy | None | The weight will be distributed pro rata across the remaining Index Components.From Solactive Equity Index Methodology ↗ |
Deleted weights are generally distributed pro rata across remaining components rather than replaced from a reserve list. |
| Deletion price | Typically the last available stock price; alternative-market prices, transaction deal terms, distribution terms, or 0.00000001 may be used when a robust market price is unavailable; sanctioned securities may be removed at zero. | If available, the Index Component is deleted on the basis of its last available stock price.From Solactive Equity Index Methodology ↗ |
Securities are generally deleted at the last available price, with alternative prices, deal terms, distribution values, a nominal near-zero price, or zero in specified situations. |
| M9 Calculation and return variants · 12 fields | |||
| Divisor precision | 6 decimal places | Divisors will be rounded to six decimal places.Open p.10 ↗ |
Divisors are rounded to six decimal places. |
| Trading price and FX precision | 6 decimal places | TRADING PRICES and foreign exchange rates will be rounded to six decimal places.Open p.10 ↗ |
Trading prices and foreign exchange rates are rounded to six decimal places. |
| Formula type | Divisor | The INDEX is calculated as a net total return Index. The calculation is performed according to the Equity Index Methodology, which is available on the SOLACTIVE websiteOpen p.10 ↗ |
The index uses a divisor index formula, with net total return treatment. |
| Price source | Intraday: trading prices on constituent listing exchanges; if unavailable, the later of the most recent closing price or last available trading price for the preceding trading day; Closing: closing prices on constituent listing exchanges; FX intraday: current ICE spot foreign exchange rate; FX closing: 4:00 p.m. London time WM Fixing quoted by Reuters; if unavailable, last available fixing | The level of the INDEX is calculated on each CALCULATION DAY from 1:00 a.m. to 10:50 p.m. CET based on the TRADING PRICES on the EXCHANGES on which the INDEX COMPONENTS are listed.Open p.5 ↗ |
Intraday calculations use exchange trading prices, closing calculations use exchange closing prices, and non-index-currency prices are converted using ICE spot rates or the London 4 p.m. WM Fixing. |
| Calculation frequency | Intraday window: 1:00 a.m. to 10:50 p.m. CET each calculation day; Closing level: each calculation day | The level of the INDEX is calculated on each CALCULATION DAY from 1:00 a.m. to 10:50 p.m. CET based on the TRADING PRICES on the EXCHANGES on which the INDEX COMPONENTS are listed.Open p.5 ↗ |
The index is calculated intraday on each calculation day from 1:00 a.m. to 10:50 p.m. CET and also has a daily closing level. |
| Precision | 2 decimal places | The level of the INDEX will be rounded to 2 decimal places. Divisors will be rounded to six decimal places.Open p.10 ↗ |
The published index level is rounded to two decimal places. |
| Return variants | NTR | The INDEX is calculated as a net total return Index.Open p.10 ↗ |
The document specifies a net total return index variant. |
| Dividend treatment | Dividends and other distributions are reinvested across the entire basket through a divisor at the opening of the ex-date. | Any dividends or other distributions are reinvested across the entire basket of INDEX COMPONENTS by means of a divisor at the opening of the effective date (the so-called ex-date) of the payment of such dividend or other distribution.Open p.10 ↗ |
Cash dividends and other distributions are reinvested across the whole constituent basket by adjusting the divisor at the opening of their effective ex-date. |
| Divisor adjustment | Dividends, other distributions | Any dividends or other distributions are reinvested across the entire basket of INDEX COMPONENTS by means of a divisor at the opening of the effective date (the so-called ex-date) of the payment of such dividend or other distribution.Open p.10 ↗ |
Dividends and other distributions trigger reinvestment through a divisor adjustment at the opening of the ex-date. |
| Market disruption rule | During market stress, Solactive follows the predefined and exhaustive arrangements in the Solactive Disruption Policy incorporated by reference. | In periods of market stress SOLACTIVE calculates its indices following predefined and exhaustive arrangements as described in the Solactive Disruption Policy, which is incorporated by reference and available on the SOLACTIVE websiteOpen p.12 ↗ |
When market stress causes inaccurate or delayed prices, Solactive follows the predefined arrangements in its Disruption Policy. |
| Recalculation policy | Identified errors are corrected within a reasonable period of time as determined under the incorporated Solactive Correction Policy. | SOLACTIVE endeavors to correct all errors that have been identified within a reasonable period of time.Open p.12 ↗ |
Solactive endeavors to correct identified index errors within a reasonable period under the Solactive Correction Policy. |
| Withholding tax basis | Withholding tax or other typical investor costs are deducted in Net Total Return indices, generally using Solactive's applicable withholding tax rates and country or security-specific exceptions. | a Net Total Return Index considers payments, such as dividends, after the deduction of any withholding tax or other amounts an investor holding the Index Components would typically be exposed to.From Solactive Equity Index Methodology ↗ |
Net Total Return indices deduct withholding tax or other amounts a typical investor would bear, using applicable Solactive withholding tax rates and specified country, REIT, depository receipt, Brazil, Australia, Japan, New Zealand, and other exceptions. |
| M10 Governance, change policy, disclosure · 11 fields | |||
| Discretion governance | Discretion must be exercised in accordance with strict rules regarding discretion or expert judgement. | shall be made in accordance with strict rules regarding the exercise of discretion or expert judgement.Open p.13 ↗ |
Any discretion or expert judgment used in determining the index must follow strict internal rules. |
| Methodology change policy | Methodology changes identified during review are made under the incorporated Solactive Methodology Policy and require Oversight Committee prior approval. | such change will be made in accordance with the Solactive Methodology Policy, which is incorporated by reference and available on the SOLACTIVE websiteOpen p.13 ↗ |
Reviewed methodology changes are made under the Solactive Methodology Policy and receive prior Oversight Committee approval. |
| Method application finality | The index administrator's application of the described method is final and binding. | The application by the INDEX ADMINISTRATOR of the method described in this document is final and binding.Open p.13 ↗ |
The index administrator's application of the documented method is final and binding. |
| Oversight body | Oversight Committee composed of staff from Solactive and its subsidiaries | An oversight committee composed of staff from SOLACTIVE and its subsidiaries (the “OVERSIGHT COMMITTEE”) is responsible for decisions regarding any amendments to the rules of the INDEX.Open p.14 ↗ |
An oversight committee made up of Solactive and subsidiary staff approves amendments to the index rules. |
| Discretion points | determination of the index universe, if applicable, selection of index components, if applicable, other relevant decisions in relation to the index, changes necessary to prevent obvious or demonstrable error or to remedy, correct, or supplement incorrect terms and conditions | Any discretion which may need to be exercised in relation to the determination of the INDEX (for example the determination of the INDEX UNIVERSE (if applicable), the selection of the INDEX COMPONENTS (if applicable) or any other relevant decisions in relation to the INDEX)Open p.13 ↗ |
Discretion may apply to universe determination, component selection, other relevant index decisions, and corrections needed to prevent or remedy obvious errors. |
| Methodology review frequency | at least annually | The methodology of the INDEX is subject to regular review, at least annually.Open p.13 ↗ |
The index methodology is reviewed regularly and at least once per year. |
| Error correction policy | The index administrator may change terms or the calculation method to prevent obvious or demonstrable error or to remedy, correct, or supplement incorrect terms and conditions; identified calculation errors are handled under the Solactive Correction Policy. | The INDEX ADMINISTRATOR may also make changes to the terms and conditions of the INDEX and the method applied to calculate the INDEX that it deems to be necessary and desirable in order to prevent obvious or demonstrable error or to remedy, correct or supplement incorrect terms and conditions.Open p.13 ↗ |
Errors may be corrected through methodology or terms changes, and identified calculation errors are addressed under the Solactive Correction Policy. |
| Change announcement | Solactive website Announcements section | Such change in the methodology will be announced on the SOLACTIVE website under the Section “Announcement”, which is available at https://www.solactive.com/news/announcements/.Open p.13 ↗ |
Methodology changes are announced in the Announcement section of the Solactive website. |
| Cessation policy | If no alternative exists, orderly cessation may occur when the underlying market or economic reality changes substantially, index rules or selection criteria can no longer be coherently applied, or the index is no longer used; details are governed by the Solactive Termination Policy. | Nevertheless, if no other options are available the orderly cessation of the INDEX may be indicated.Open p.14 ↗ |
The index may be orderly terminated under specified viability conditions, with stakeholder information and consultation governed by the Solactive Termination Policy. |
| Material change definition | A material change includes a change in index objective, or a methodology change altering the overall concept or nature of the index and affecting integrity and continued comparability, with expected significant impact on composition, weighting or level; uncertain classifications default to material. | A ‘MATERIAL CHANGE’ is considered in the following events: change in the objective of the INDEX (e.g., change in the market or economic reality that the Index is intended to represent;From Solactive Methodology Policy ↗ |
A material change changes the index objective or overall concept/nature, affects integrity and comparability, and is expected to significantly affect composition, weighting or index level; ambiguous changes are treated as material. |
| Notice period | 2 trading days | SOLACTIVE shall announce the extraordinary INDEX adjustment with a notice period of at least two TRADING DAYS.From Solactive Disruption Policy ↗ |
An extraordinary index adjustment for removal is announced with a notice period of at least two trading days. |
Open points · 31Model-written, for reference
- 1No local-language index name was provided.
- 2No parent index or parent universe index was stated.
- 3No intended use was explicitly stated.
- 4The benchmark's regulated, significant, or non-significant classification under BMR was not stated.
- 5No specific exchanges or listing boards were stated.
- 6No minimum trading history, foreign room, voting-rights, share-price, financial, suspension, or abnormal-price screen was stated.
- 7The supplied sections do not specify how the thematic business-operation screen is classified beyond the scope description.
- 8No reserve list or pre-ranked replacement-pool rule is stated in the selection and constituent count section.
- 9No free-float factor calculation method or factor bands are stated in the weighting and capping section.
- 10No domestic inclusion factor is stated in the weighting and capping section.
- 11No foreign ownership limit treatment is stated in the weighting and capping section.
- 12No separate sector cap or country cap is stated in the weighting and capping section.
- 13No shares-outstanding source or update schedule is stated in the weighting and capping section.
- 14No divisor adjustment rule is stated in the weighting and capping section.
- 15Could not determine the ordinary review or rebalance frequency.
- 16Could not determine the review months.
- 17Could not determine whether weight rebalancing or weight resets occur at a different frequency from constituent reviews.
- 18Could not find rank, size-segment, or liquidity buffers for existing constituents.
- 19Could not find a maximum turnover limit per review.
- 20Could not find a fast-entry rule for large new listings.
- 21Could not determine the replacement policy for constituents removed because of corporate actions.
- 22Could not find the deletion price used when a constituent is removed.
- 23Could not find a threshold for implementing share or free-float changes between reviews.
- 24The supplied text lists corporate-action events but does not specify precise ad hoc deletion treatment for every event; nationalization is reported only as an extra corporate-action example because it has no matching enum.
- 25Calculation returns: no withholding tax rate or tax basis for the net total return variant is stated.
- 26Governance: no external review body or external review procedure is stated.
- 27Governance: no explicit definition of a material methodology change is stated.
- 28Governance: no consultation procedure or notice period for methodology changes is stated.
- 29Governance: whether constituents are published and their publication frequency are not stated.
- 30Calculation returns: the precise intraday update interval is not stated; only the intraday calculation window from 1:00 a.m. to 10:50 p.m. CET is provided.
- 31Not coveredM7 Buffers and turnover control: not covered by this edition
Read by a language model (doubao-seed-2.1-pro) on 2026-10-04 · prompt 1.3 · schema 1 · 81 of 82 quotes found word for word in the PDF · includes general rules: Equity Index Methodology v1.20, Methodology Policy v1.6, Disruption Policy v1.5
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