Also known as: SOLVPN Index (Bloomberg) · DE000SL0BVK7 (Solactive code) · .SOLVPN (RIC)
At a glance
- Weighting schemeFree float market cap
- Constituent count25, 40
- Single cap12
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 17 fields | |||
| Return type | NTR | *NTR means that the Index is calculated as net total return Index as described in the Equity Index MethodologyOpen p.4 ↗ |
The index is calculated as a net total return index. |
| Asset class | Equity | Category Description Asset Class EquityOpen p.4 ↗ |
The index asset class is equity. |
| Regional allocation | Global | Regional Allocation GlobalOpen p.4 ↗ |
The index has global regional allocation. |
| Rebalancing frequency | semi-annually | Rebalancing Frequency Semi-AnnuallyOpen p.4 ↗ |
The index rebalances semi-annually. |
| Index name | Solactive Data Center REITs & Digital Infrastructure Index | Name ISIN Currency Type RIC BBG ticker Solactive Data Center REITs & Digital USD NTR* Infrastructure IndexOpen p.4 ↗ |
The official index name is Solactive Data Center REITs & Digital Infrastructure Index. |
| Administrator | Solactive AG | The INDEX is owned, calculated, administered and published by Solactive AG (“SOLACTIVE”) assuming the role as administrator (the “INDEX ADMINISTRATOR”) under the Regulation (EU) 2016/1011Open 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 and publishes the index. |
| Launch date | 2020-12-10 | The initial level of the INDEX on the 12/10/2020, the START DATE, is 1000. Historical values from the 12/10/2020, the LIVE DATE, will be recordedOpen p.4 ↗ |
The index start date and live date is December 10, 2020. |
| Base date | 2020-12-10 | The initial level of the INDEX on the 12/10/2020, the START DATE, is 1000.Open p.4 ↗ |
The initial index level is set on December 10, 2020. |
| Base value | 1,000 | The initial level of the INDEX on the 12/10/2020, the START DATE, is 1000.Open p.4 ↗ |
The initial index level is 1000. |
| Currency | USD | Name ISIN Currency Type RIC BBG ticker Solactive Data Center REITs & Digital USD NTR* Infrastructure IndexOpen p.4 ↗ |
The index is denominated in USD. |
| Methodology version | 2.1 | 2.1 2024-04-19 ADJUSTMENT/REBALANCE DAY DEFINITIONOpen p.17 ↗ |
The methodology version shown in the document is version 2.1. |
| Methodology date | 2024-04-19 | 2.1 2024-04-19 ADJUSTMENT/REBALANCE DAY DEFINITIONOpen p.17 ↗ |
Version 2.1 is dated April 19, 2024. |
| 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 | Primary listing in one of the countries that are part of the Developed Markets as defined by the Solactive Country Classification (https://www.solactive.com/documents/), South Korea, Taiwan, and Indonesia.Open p.6 ↗ |
The index uses a custom global market scope covering Solactive Developed Markets plus South Korea, Taiwan, Indonesia, and eligible emerging-market ADRs. |
| 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. Regional Allocation GlobalOpen p.4 ↗ |
The index is a thematic equity index focused on data centers and cellular towers. |
| Limitations | Solactive does not guarantee index results or index levels, 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 INDEX at any certain point in time nor in any other respect.Open p.3 ↗ |
Solactive provides no guarantee of index results or levels, and index publication does not constitute an investment recommendation. |
| M2 Universe · 4 fields | |||
| Index universe definition | All financial instruments meeting the index universe requirements form the starting pool for component selection. | The INDEX UNIVERSE comprises all those financial instruments which fulfill the INDEX UNIVERSE REQUIREMENTS (as specified in Section 2.1) and will constitute a starting pool from which the components of the INDEX will be selected.Open p.6 ↗ |
The index universe is the starting pool of financial instruments meeting the stated requirements and from which index components are selected. |
| Primary listing rule | Primary listing must be in an eligible country or market. | a) Primary listing in one of the countries that are part of the Developed Markets as defined by the Solactive Country ClassificationOpen p.6 ↗ |
A security must have its primary listing in one of the specified eligible countries or markets. |
| 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 Classification (https://www.solactive.com/documents/), South Korea, Taiwan, and Indonesia. Additionally, ADRs of any company whose primary listing is in a country that is part of the Emerging MarketsOpen p.6 ↗ |
Eligible companies must have a primary listing in Solactive Developed Markets, South Korea, Taiwan, or Indonesia; ADRs of emerging-market primary-listed companies are also eligible. |
| Security types | Common, Dr | Additionally, ADRs of any company whose primary listing is in a country that is part of the Emerging Markets (as defined by the Solactive Country Classification) are eligible.Open p.6 ↗ (not found verbatim in the PDF) |
The universe includes eligible equity financial instruments and specifically permits ADRs of companies primarily listed in emerging markets. |
| M3 Eligibility screens · 4 fields | |||
| Discretionary decision rule | No | 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 cannot make discretionary decisions. |
| Liquidity screen | Metric: Average daily value; Window: last six months; Threshold: 2,000,000; Currency: USD; Buffer for existing: 1,400,000 | c) AVERAGE DAILY VALUE TRADED in the last six months of at least USD 2,000,000 for companies that are not Index Components on the respective SELECTION DAY and at least USD 1,400,000 for companies that are Index ComponentsOpen p.6 ↗ |
Non-components 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: Share class market capitalization; Threshold: 200,000,000; Currency: USD; Buffer for existing: 160,000,000 | b) SHARE CLASS MARKET CAPITALIZATION of at least USD 200 million for companies that are not Index Components on the respective Selection Day and at least USD 160 million for companies that are Index ComponentsOpen p.6 ↗ |
Non-components 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% | d) 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 · 7 fields | |||
| Revenue eligibility 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 come from data center, cellular tower, or related digital infrastructure operations. |
| Company category priority | Data center companies, Cellular tower companies, Digital infrastructure hardware companies | 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 selected first, and hardware companies are added only when needed to reach the minimum constituent count. |
| Future selection buffer rules | Incumbents are retained unless score, revenue, or category-priority conditions fail; additions and removals follow the number of data center and cellular tower companies currently in the index. | For any future selection the following buffer rules apply: 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 revenuesOpen p.7 ↗ |
Future selections apply category-specific retention and replacement buffers based on index score, 50% revenue exposure, and the current number of data center and cellular tower companies. |
| 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 ↗ |
Companies are identified by theme keywords, screened for at least 50% revenue exposure, and ranked by an algorithmic index score. |
| Ranking metrics | Name: Index score; Direction: higher frequency of keyword references ranks higher; Step order: 1, Name: Average daily volume; Window: 6 months; Direction: higher average daily volume preferred 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 ↗ |
Eligible companies are ranked by the frequency of references to theme keywords, with six-month average daily volume used to break tied ranks. |
| Target constituent count | 25, 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 ↗ |
The index includes up to 40 data center and cellular tower companies, adding hardware companies only if needed to reach 25 constituents. |
| Tie break rule | Highest average daily volume over the last 6 months wins. | 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 ↗ |
When two or more companies share a rank, preference is given to the company with the highest average daily volume over the prior six months. |
| M5 Weighting and capping · 9 fields | |||
| Server or 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 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%. |
| Remaining companies cap (%) | 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 outside the group weighted above 4.5% are individually capped at 4.5%. |
| Excess weight redistribution | Excess weight is redistributed proportionally so that none of the constraints are breached. | 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 by free-float market capitalization, subject to the stated 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 ↗ |
A data center company or cellular tower company may have a maximum weight of 12.0%, while a server and/or hardware company may have a maximum weight of 2.0%. |
| 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 weighted above 4.5% is capped at 45%, and the remaining companies are capped at 4.5%. |
| 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 the stated weighting 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 · 6 fields | |||
| Ordinary rebalance implementation | Shares determined on selection day are implemented according to weights calculated on 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 ↗ |
At the ordinary rebalance, Solactive implements the shares determined on selection day based on the weights calculated on selection day. |
| Extraordinary rebalance rule | Not permitted | The INDEX is not rebalanced extraordinarily.Open p.9 ↗ |
The index is not rebalanced extraordinarily. |
| Review types | Scheduled review, Ad hoc | In order to reflect the new selection of the INDEX COMPONENTS determined on the SELECTION DAY (in accordance with Section 2.1 and 2.2) the INDEX is adjusted on the REBALANCE DAY after CLOSE OF BUSINESS.Open p.9 ↗ |
The index undergoes ordinary scheduled rebalances and may be adjusted between regular rebalance days for corporate actions; extraordinary rebalances are not used. |
| Announcement rule | Scheduled changes: Published with sufficient notice before the rebalance day in Solactive's Announcement section; Corporate action adjustments: Announced with at least two trading days' notice regarding 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 ↗ |
Solactive publishes ordinary constituent changes with sufficient notice before the rebalance day and corporate-action adjustments with at least two trading days' notice. |
| Effective date rule | Ordinary rebalances take effect after close of business on the rebalance day; 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 are implemented after close of business on the rebalance day, while interim adjustments are implemented on the effective day stated in the relevant notice. |
| Data cutoff rule | Target weights and shares are determined on a Selection Day or Fixing Day as specified by the Index Guideline and rebalance methodology. | Target Weights of Index Components which are determined on the Selection Day according to the Index Guideline are used to calculate the Fraction of Shares of each Index Component on the Adjustment Day.From Solactive Equity Index Methodology ↗ |
Selection-day or fixing-day data are used according to the rebalance methodology stated in the Index Guideline. |
| M8 Corporate actions, IPOs, ad-hoc changes · 9 fields | |||
| Interim adjustment trigger | An adjustment between regular rebalance days is required when a corporate action occurs in relation to an index component. | Such adjustment has to be made if a corporate action (as specified in Section 4.4 below) in relation of an INDEX COMPONENT occurs.Open p.10 ↗ |
Solactive must adjust the index between regular rebalance days when a specified corporate action affects an index component. |
| 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 effectOpen p.11 ↗ |
Corporate actions are implemented from the cum-day to the ex-day so the index adjustment aligns with the price effect. |
| Relevant corporate actions | 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 ↗ |
Solactive lists cash and stock distributions, splits, capital increases, repurchases, spin-offs, mergers and acquisitions, delistings, nationalization, and insolvency as relevant corporate actions. |
| Discretion for unusual or complex actions | 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 actionOpen p.11 ↗ |
Solactive may depart 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.12 ↗ |
Relevant corporate-action events include delistings, mergers and acquisitions, insolvency, and nationalization, among other events. |
| Merger spinoff rules | Corporate actions, including spin-offs and mergers and acquisitions, are implemented from cum-day to ex-day under the Equity Index Methodology. | 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 effectOpen p.11 ↗ |
Spin-offs, mergers, acquisitions, and other corporate actions are handled from cum-day to ex-day in accordance with the Solactive Equity Index Methodology. |
| Corporate actions guide ref | Equity Index Methodology | will be made in compliance with the Solactive Equity Index Methodology, which is incorporated by reference and available on the SOLACTIVE websiteOpen p.10 ↗ |
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 · 15 fields | |||
| FX source intraday | ICE spot foreign exchange rate | TRADING PRICES of INDEX COMPONENTS not listed in the INDEX CURRENCY are converted using the current Intercontinental Exchange (ICE) spot foreign exchange rate.Open p.5 ↗ |
Intraday prices of components not quoted in the index currency are converted using the current ICE spot foreign exchange rate. |
| FX source closing | 4:00 p.m. London time WM Fixing quoted by Reuters, or the last available fixing if absent | The CLOSING PRICES of INDEX COMPONENTS not listed in the INDEX CURRENCY are converted using the 04:00 p.m. London time WM Fixing quoted by Reuters.Open p.5 ↗ |
Closing prices in foreign currencies are converted using the 4:00 p.m. London time WM Fixing quoted by Reuters, or the last available such fixing if none exists on the calculation day. |
| Divisor precision | 6 decimal places | Divisors will be rounded to six decimal places.Open p.10 ↗ |
Divisors are rounded to six decimal places. |
| 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. |
| Equity index methodology reference | Calculation follows the Equity Index Methodology, with formula mechanics described in Section 1.2. | The calculation is performed according to the Equity Index Methodology, which is available on the SOLACTIVE websiteOpen p.10 ↗ |
The index calculation is performed according to Solactive's Equity Index Methodology, including its Section 1.2 formula mechanics. |
| Formula type | Divisor | The divisor index formula stipulates that the level of the INDEX changes based on the change of the prices of its INDEX COMPONENTS taking into account their weight in the INDEX and any currency conversionOpen p.10 ↗ |
The index uses a divisor formula whose level reflects component price changes, weights, and any required currency conversion. |
| Price source | Exchange trading prices are used intraday; exchange closing prices are used for the closing level; stale closing or trading prices are used when no current price exists. | 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 calculation uses trading prices on the exchanges where components are listed, while the closing level uses component closing prices; absent a current price, the later of the most recent closing price or last available preceding trading-day price is used. |
| Calculation frequency | intraday_from_1:00_to_22:50_CET_and_closing_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 a closing level is also calculated each calculation day. |
| Precision | 2 decimal places | The level of the INDEX will be rounded to 2 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 index is calculated as a net total return index. |
| 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 ↗ |
Dividends and other distributions are reinvested across the whole index basket by adjusting the divisor at the opening of the payment's 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 divisor treatment at the opening of the relevant ex-date. |
| Market disruption rule | Solactive follows the predefined and exhaustive arrangements in the Solactive Disruption Policy during periods of market stress, illiquidity, fragmentation, inaccurate prices, or delayed prices. | In periods of market stress SOLACTIVE calculates its indices following predefined and exhaustive arrangements as described in the Solactive Disruption PolicyOpen p.12 ↗ |
During market stress or when component prices are inaccurate or delayed, index calculation follows the Solactive Disruption Policy's predefined arrangements. |
| Recalculation policy | Solactive endeavors to correct identified errors within a reasonable period, with measures specified in the Solactive Correction Policy. | SOLACTIVE endeavors to correct all errors that have been identified within a reasonable period of time.Open p.12 ↗ |
Solactive seeks to correct all identified errors within a reasonable period, as specified by the incorporated 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 · 12 fields | |||
| Method 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 index method is final and binding. |
| Change triggers | market environment, supervisory reasons, legal reasons, financial reasons, tax reasons, prevention or correction of error | However, it cannot be excluded that the market environment, supervisory, legal and financial or tax reasons may require changes to be made to this method.Open p.13 ↗ |
Changes to the index method may be required by market, supervisory, legal, financial, or tax reasons, or to prevent or correct errors. |
| Modification information not required | Yes | The INDEX ADMINISTRATOR is not obliged to provide information on any such modifications or changes.Open p.13 ↗ |
The index administrator is not obliged to provide information about modifications or changes. |
| Amendment approval | Rule amendments that may amend the guideline require prior Oversight Committee approval and compliance with the Methodology Policy. | Any such amendment, which may result in an amendment of the GUIDELINE, must be submitted to the OVERSIGHT COMMITTEE for prior approval and will be made in compliance with the Methodology PolicyOpen p.14 ↗ |
Any rule amendment that may amend the guideline must receive prior Oversight Committee approval and comply with the Methodology Policy. |
| 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 is responsible for decisions on amendments to the index rules. |
| Discretion points | determination of the index universe, if applicable, selection of index components, if applicable, other relevant index decisions | 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 be exercised in determining the index universe, selecting components, and making other relevant index decisions, subject to strict rules. |
| 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, at least once per year. |
| Material change definition | A need to change the methodology may arise when underlying market or economic reality has changed and the methodology rests on obsolete assumptions that no longer reflect reality accurately, reliably, and appropriately. | In case a need of a change of the methodology has been identified within such review (e.g. if the underlying market or economic reality has changed since the launch of the INDEX, i.e. if the present methodology is based on obsolete assumptions and factors and no longer reflects the reality as accurately, reliably and appropriately as before)Open p.13 ↗ |
A methodology change may be needed when changed market or economic reality makes the existing assumptions obsolete and less accurate, reliable, and appropriate. |
| Error correction policy | The index administrator may change terms or calculation methods to prevent obvious or demonstrable error or to remedy, correct, or supplement incorrect terms; identified index 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 remedied through methodology changes, and identified calculation errors are corrected under the Solactive Correction Policy. |
| Change announcement | Solactive website Announcement section at https://www.solactive.com/news/announcements/ | 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 on the Solactive website in the Announcement section. |
| Cessation policy | Orderly cessation may occur only when no other options remain, such as when market or economic reality changes substantially, rules cannot be applied coherently, or the index is no longer used; procedures follow the Solactive Termination Policy. | Nevertheless, if no other options are available the orderly cessation of the INDEX may be indicated.Open p.14 ↗ |
Solactive may orderly terminate the index when substantial changed reality, incoherent rules, or lack of use leaves no alternative, following the Solactive Termination Policy's stakeholder and transition procedures. |
| 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 · 37Model-written, for reference
- 1Index ISIN is not populated in the provided publication table.
- 2Bloomberg and Refinitiv ticker values are not populated in the provided publication table.
- 3No explicit short name or abbreviation other than the full index name is provided.
- 4No minimum trading-history requirement is stated.
- 5No minimum foreign room requirement is stated.
- 6No minimum voting-rights requirement is stated.
- 7No minimum share price screen is stated.
- 8No financial profitability or financial-health screens are stated.
- 9No explicit business or ESG exclusion list beyond the thematic business-operations criterion is stated.
- 10No suspension rule is stated.
- 11No extreme price screen is stated.
- 12No specific exchanges or listing boards are named.
- 13No nationality assignment rule beyond primary listing and Solactive Country Classification is stated.
- 14No parent index whose constituents form the universe is identified.
- 15No specific list of excluded security kinds is provided.
- 16Benchmark regulation status category (regulated, significant, or non-significant) is not explicitly stated.
- 17No explicit free-float factor methodology or free-float bands are stated.
- 18No domestic inclusion factor or foreign ownership limit treatment is stated.
- 19No sector or country weight cap is stated beyond company-category caps and the aggregate high-weight cap.
- 20No shares-outstanding source or update schedule is stated.
- 21No divisor adjustment rule is stated.
- 22No reserve list or pre-ranked replacement pool is stated.
- 23No sector or industry neutrality requirement in selection is stated.
- 24Review frequency and specific review or rebalance months are not stated.
- 25The selection day data cut-off or reference-date rule is not stated.
- 26Any separate weight-rebalancing or weight-reset frequency is not stated.
- 27Rank buffers, size-segment buffers, liquidity buffers for existing constituents, and maximum turnover per review are not stated.
- 28Fast-entry rules for large new listings are not stated.
- 29Replacement policy and reserve-list treatment for ad hoc removals are not stated.
- 30The deletion price for removed constituents is not stated.
- 31A quantitative threshold for implementing share or free-float changes between reviews is not stated.
- 32No explicit withholding tax rate or tax basis for the net total return index is stated.
- 33No external review or independent consultation requirement is stated.
- 34No specific consultation procedure or notice period for methodology changes is stated.
- 35Whether constituents are published and, if so, their publication frequency is not stated.
- 36The full list of non-dividend divisor adjustment events is not stated and may reside in the incorporated Equity Index Methodology.
- 37Not 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 · 82 of 83 quotes found word for word in the PDF · includes general rules: Equity Index Methodology v1.20, Disruption Policy v1.5
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