Also known as: SOLURANT Index (Bloomberg) · DE000SLA4825 (Solactive code) · .SOLURANT (RIC)
At a glance
- Weighting schemeFree float market cap
- Single cap22.5
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 18 fields | |||
| Asset class | Equity | Category Description Asset Class Equity Representation of companiesOpen p.4 ↗ |
The index asset class is equity. |
| 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 listed index type is NTR, meaning a net total return index. |
| Rebalancing frequency | Quarterly | Regional Allocation Global Markets Rebalancing Fee - Rebalancing Frequency QuarterlyOpen p.4 ↗ |
The index rebalances quarterly. |
| Index name | Solactive Global Uranium & Nuclear Components Total Return Index | Name ISIN Currency Type RIC BBG ticker Solactive Global Uranium & Nuclear Components Total DE000SLA4825 USD NTR* .SOLURANT SOLURANT Index Return IndexOpen p.4 ↗ |
The official published index name is the Solactive Global Uranium & Nuclear Components Total Return Index. |
| Index short name | SOLURANT | Solactive Global Uranium & Nuclear Components Total DE000SLA4825 USD NTR* .SOLURANT SOLURANT Index Return IndexOpen p.4 ↗ |
The Bloomberg ticker shown for the index is SOLURANT Index. |
| Index code | .SOLURANT | Solactive Global Uranium & Nuclear Components Total DE000SLA4825 USD NTR* .SOLURANT SOLURANT Index Return IndexOpen p.4 ↗ |
The RIC shown for the index is .SOLURANT. |
| ISIN | DE000SLA4825 | Solactive Global Uranium & Nuclear Components Total DE000SLA4825 USD NTR* .SOLURANT SOLURANT Index Return IndexOpen p.4 ↗ |
The index ISIN is DE000SLA4825. |
| Vendor codes | Bloomberg: SOLURANT Index; Refinitiv: .SOLURANT | Name ISIN Currency Type RIC BBG ticker Solactive Global Uranium & Nuclear Components Total DE000SLA4825 USD NTR* .SOLURANT SOLURANT Index Return IndexOpen p.4 ↗ |
The document lists RIC .SOLURANT and Bloomberg ticker SOLURANT Index. |
| Administrator | Solactive AG | Solactive AG German Index Engineering Platz der Einheit 1 60327 Frankfurt am Main GermanyOpen p.20 ↗ |
Solactive AG is the index administrator and publisher. |
| Index family | Solactive Global Uranium & Nuclear Components Index | SOLACTIVE GLOBAL URANIUM & NUCLEAR COMPONENTS INDEXOpen p.1 ↗ |
The index belongs to the Solactive Global Uranium & Nuclear Components index family. |
| Launch date | 2018-01-30 | The INDEX is started at the close of trading on the start date of 30/01/2018.Open p.4 ↗ |
The index was started at the close of trading on 30 January 2018. |
| Currency | USD | Solactive Global Uranium & Nuclear Components Total DE000SLA4825 USD NTR* .SOLURANT SOLURANT Index Return IndexOpen p.4 ↗ |
The index is calculated and published in USD. |
| Methodology version | 6.3 | Version 6.3Open p.1 ↗ |
The methodology version shown in the document is version 6.3. |
| Methodology date | 2024-04-19 | 6.3 2024-04-19 ADJUSTMENT/REBALANCE DAY DEFINITIONOpen p.19 ↗ |
Version 6.3 is dated 19 April 2024 in the history of index changes. |
| Benchmark type | Not stated | — (not found verbatim in the PDF) |
The document does not classify the index as regulated, significant, or non-significant. |
| Objective | Representation of companies that have or are expected to have business operations or exposure in the uranium industry. | Representation of companies that have or are expected to have business operations or exposure in the uranium industry.Open p.4 ↗ |
The index represents companies that have or are expected to have business operations or exposure in the uranium industry. |
| Market classification | Global | Regional Allocation Global Markets Rebalancing Fee - Rebalancing Frequency QuarterlyOpen p.4 ↗ |
The index has a global regional allocation. |
| Index family type | Thematic | This Strategy particularly includes uranium mining, exploration, uranium investments and technologies related to the uranium industry.Open p.4 ↗ |
The index is a thematic equity index focused on the uranium industry and nuclear components. |
| M2 Universe · 7 fields | |||
| Universe construction source | Uranium Suppliers Annual published yearly by Ux Consulting Company (UxC) | The INDEX UNIVERSE will be constructed and defined by Solactive and supported with the “Uranium Suppliers Annual” as provided on a yearly basis by the Ux Consulting Company (UxC).Open p.6 ↗ |
Solactive constructs and defines the universe using the yearly UxC Uranium Suppliers Annual. |
| Included company categories | pure play companies, non-pure play companies, nuclear component producers | The report will also be considered to classify companies as PURE PLAY COMPANIES or NON-PURE PLAY COMPANIES.Open p.6 ↗ |
The universe includes pure play and non-pure play uranium companies, plus a list of nuclear component producers. |
| Rule based determination | Yes | The determination of the INDEX UNIVERSE is fully rule-based and the INDEX ADMINISTRATOR cannot make any discretionary decisions.Open p.7 ↗ |
The index universe is fully rule-based, and the index administrator has no discretion over its determination. |
| Markets | Developed markets, Emerging markets | Primary listing in one of the countries that are part of the Developed Markets and Emerging Markets (excluding China, India, and Taiwan) as defined by the Solactive Country ClassificationOpen p.6 ↗ |
The universe requires a primary listing in a developed or emerging market country under Solactive's country classification, excluding China, India, and Taiwan. |
| Security types | Common | The INDEX UNIVERSE is comprised of all financial instruments which fulfill the below requirementsOpen p.6 ↗ |
The universe consists of equity financial instruments, but the document does not specify a narrower share class beyond equity. |
| Nationality rule | Primary listing in a Solactive-classified developed or emerging market country, excluding China, India, and Taiwan. | Primary listing in one of the countries that are part of the Developed Markets and Emerging Markets (excluding China, India, and Taiwan) as defined by the Solactive Country ClassificationOpen p.6 ↗ |
Country eligibility is based on the company's primary listing and Solactive Country Classification. |
| Exclusions | China, India, Taiwan, companies involved in controversial weapons, producers or developers of key and dedicated controversial-weapon components, companies holding at least 20% in a controversial-weapons company, companies at least 50% owned by a controversial-weapons company | Developed Markets and Emerging Markets (excluding China, India, and Taiwan) as defined by the Solactive Country ClassificationOpen p.6 ↗ |
The universe excludes China, India, and Taiwan and companies connected with controversial weapons under the stated ownership and production criteria. |
| M3 Eligibility screens · 5 fields | |||
| Significant IPO minimum listing period | Minimum value: 10 calendar days | must have been listed at least 10 calendar days prior to the SELECTION DAY, if considered as Significant IPOOpen p.7 ↗ |
A significant IPO must have been listed at least 10 calendar days before the selection day. |
| Trading history | Minimum value: 3 calendar months; Exceptions: Significant IPOs with less than three calendar months of trading history must have been listed at least 10 calendar days before the selection day | initial public offerings (“IPOs”) with less than three calendar months of trading history as of the SELECTION DAY must have been listed at least 10 calendar days prior to the SELECTION DAY, if considered as Significant IPO, and three calendar months prior to the Selection Day, in the case of other IPOs.Open p.7 ↗ |
IPOs generally need three calendar months of trading history, while significant IPOs may be considered after at least 10 calendar days. |
| Liquidity screen | Metric: Average daily value; Window: applicable TRADING MEASUREMENT PERIOD; Threshold: Non constituent: 100,000; Existing constituent: 50,000; Currency: USD; Buffer for existing: Existing constituents have a lower threshold of USD 50,000 average daily trading value | Average daily trading value over the applicable TRADING MEASUREMENT PERIOD of at least USD 100,000 for companies which are not INDEX COMPONENTS on the respective SELECTION DAY, at least USD 50,000 for companies which are INDEX COMPONENTS on the respective SELECTION DAY.Open p.6 ↗ |
Average daily trading value must be at least USD 100,000 for non-constituents and USD 50,000 for existing constituents over the trading measurement period. |
| Minimum size | Metric: Float adjusted market cap; Threshold: Non constituent: 50,000,000; Existing constituent: 30,000,000; Currency: USD | FREE FLOAT MARKET CAPITALIZATION of at least USD 50 million for companies which are not INDEX COMPONENTS on the respective SELECTION DAY, at least USD 30 million for companies which are INDEX COMPONENTS on the respective SELECTION DAY.Open p.6 ↗ |
Free-float market capitalisation must be at least USD 50 million for non-constituents and USD 30 million for existing constituents. |
| Business or ESG exclusions | Anti-personnel mines, Biological weapons, Chemical weapons, Cluster munitions, Depleted uranium weapons, Nuclear weapons, Other weapons that violate humanitarian principles through normal use, Key and dedicated components for controversial weapons, At least 20% stake in a controversial-weapons company, At least 50% owned by a controversial-weapons company | Controversial Weapons: o Companies involved in the production development or maintenance of Anti-personnel mines, Biological or Chemical weapons, Cluster munitions, Depleted uranium, Nuclear weapons, or any other weapon that violate humanitarian principles through normal use.Open p.7 ↗ |
Companies involved in controversial weapons or connected through specified component production or ownership thresholds are excluded. |
| M4 Selection and constituent count · 4 fields | |||
| Capped company group selection limit | 15 companies | The overall number of NON-PURE PLAY COMPANIES and Nuclear Component Producer Companies (in aggregate) will be capped at 15Open p.7 ↗ |
The combined number of non-pure play companies and nuclear component producer companies selected for the index is capped at 15. |
| Selection discretion | Fully rule based no discretion | The selection of the INDEX COMPONENTS is fully rule-based and the INDEX ADMINISTRATOR cannot make any discretionary decision.Open p.7 ↗ |
Index component selection is fully rule-based, and the index administrator cannot make discretionary decisions. |
| Selection method | Screen all eligible | The overall number of NON-PURE PLAY COMPANIES and Nuclear Component Producer Companies (in aggregate) will be capped at 15, with preference given to current INDEX COMPONENTS first and then prioritized by FREE FLOAT MARKET CAPITALIZATION. Otherwise, all members of the INDEX UNIVERSE as determined in section 2.1 are included as INDEX COMPONENTS.Open p.7 ↗ |
All members of the index universe are included, except that non-pure play companies and nuclear component producer companies are capped in aggregate at 15 and prioritized when oversubscribed. |
| Ranking metrics | Name: Current index constituent status; Direction: Current constituents preferred; Step order: 1, Name: Free float market capitalization; Direction: Descending; Step order: 2 | with preference given to current INDEX COMPONENTS first and then prioritized by FREE FLOAT MARKET CAPITALIZATION.Open p.7 ↗ |
If the aggregate cap on non-pure play companies and nuclear component producer companies binds, current index components are preferred first and remaining candidates are prioritized by free-float market capitalization. |
| M5 Weighting and capping · 21 fields | |||
| Liquidity adjusted weight base multiplier | 2,000 | Average daily trading value multiplied by 2000.Open p.7 ↗ |
The liquidity-based weighting value is average daily trading value multiplied by 2,000. |
| Non pure play and nuclear component producer cap (%) | 2% | 2) NON-PURE PLAY COMPANIES and Nuclear Component Producer companies will be capped at 2.00%.Open p.8 ↗ |
Non-pure play companies and nuclear component producer companies are each capped at 2.00% in weighting. |
| Large pure play aggregate cap (%) | 47.5% | 4) The aggregate weight of all PURE PLAY COMPANIES with a weight larger than or equal to 5.00% will be capped to 47.50%.Open p.8 ↗ |
The aggregate weight of pure play companies with weights of at least 5.00% is capped at 47.50%. |
| Remaining pure play cap (%) | 4.75% | 5) All remaining PURE PLAY COMPANIES are capped at 4.75%.Open p.8 ↗ |
All remaining pure play companies are capped at 4.75%. |
| Physical uranium investment trust aggregate cap (%) | 10% | 6) The aggregate weight of all Index Components structured as Investment trusts which provide exposure to physical uranium is capped at 10%.Open p.8 ↗ |
Investment trusts providing exposure to physical uranium have an aggregate weight cap of 10%. |
| Excess weight redistribution | Pro rata to remaining non capped constituents | Any excess weight resulting from this procedure will be redistributed to all the remaining constituents which are not capped on a pro-rata basis.Open p.8 ↗ |
Excess weight from capping is redistributed pro rata to the remaining constituents that are not capped. |
| Quarterly top component review limit (%) | 25% | 1) The maximum weight of the top INDEX COMPONENT must not be larger than 25%.Open p.9 ↗ |
At the quarterly diversification review, the largest index component must not exceed 25%. |
| Quarterly top component breach cap (%) | 22% | If this criterion is breached, the stock is capped at 22% and the excess weight is redistributed to other non-capped stocks.Open p.9 ↗ |
If the largest component exceeds 25%, it is capped at 22% and the excess is redistributed to other non-capped stocks. |
| Quarterly top five breach cap (%) | 55% | If this criterion is breached, the stocks will be proportionally capped at 55% and the excess weight is redistributed to other non-capped stocks.Open p.9 ↗ |
If the top five components exceed 60% in aggregate, they are proportionally capped at 55%. |
| Low liquidity group review limit (%) | 30% | monthly average of the previous 6 months or available history if shorter) must not exceed 30%.Open p.9 ↗ |
Components below the specified share-volume and traded-value liquidity thresholds must not exceed 30% in aggregate. |
| Low liquidity group breach cap (%) | 25% | will be proportionally capped at 25% and the excess weight is redistributed to other non-capped stocks.Open p.9 ↗ |
If low-liquidity components exceed 30%, they are proportionally capped at 25%. |
| Small capitalization group review limit (%) | 10% | 4) The maximum weight of INDEX COMPONENTS with a MARKET CAPITALIZATION below USD 100m must not account for more than 10%.Open p.9 ↗ |
Components with market capitalization below USD 100 million must not account for more than 10%. |
| Small capitalization group breach cap (%) | 9% | If this criterion is breached, stocks with market capitalization below 100m will be proportionally capped at 9% and the excess weight is redistributed to other non- capped stocks.Open p.9 ↗ |
If sub-USD-100-million market-capitalization components exceed 10%, they are proportionally capped at 9%. |
| Reweighting iteration | Repeat until no constraints breached | This reweighting process will be repeated until none of the constraints are breached.Open p.9 ↗ |
The reweighting process is repeated until none of the diversification constraints are breached. |
| Unsatisfied constraints oversight | Oversight committee review with public decision | In the event that the above criteria cannot be satisfied using the buffers described above, the weighting will be reviewed by the OVERSIGHT COMMITTEE. After the review a decision will be announced publicly.Open p.9 ↗ |
If the buffers cannot satisfy the criteria, the weighting is reviewed by the oversight committee and a decision is announced publicly. |
| Weighting scheme | Free float market cap | On each SELECTION DAY the weights of the selected INDEX COMPONENTS are determined by applying an effective MARKET CAPITALIZATION weighting scheme that accounts for liquidity in determining final weights.Open p.7 ↗ |
Selected components receive effective market-capitalization weights that account for liquidity, using the lesser of free-float market capitalization and average daily trading value multiplied by 2,000. |
| Free float factor | Method: Free float | a. FREE FLOAT MARKET CAPITALIZATION b. Average daily trading value multiplied by 2000.Open p.7 ↗ |
Free-float market capitalization is one of the two bases used to determine each component's effective weight. |
| Weight cap | 22.5% | 3) The maximum weight of a PURE PLAY COMPANY is 22.50%.Open p.8 ↗ |
A pure play company has a maximum initial weight of 22.50%. |
| Group cap | Top n: 5; Aggregate (%): 60 | 2) The maximum aggregate weight of the top 5 INDEX COMPONENTS must not exceed 60%.Open p.9 ↗ |
The top five index components must not exceed 60% in aggregate at the quarterly diversification review. |
| Cap application timing | At review | On each SELECTION DAY the weights of the selected INDEX COMPONENTS are determined by applying an effective MARKET CAPITALIZATION weighting scheme that accounts for liquidity in determining final weights.Open p.7 ↗ |
Component weights and the stated weight caps are applied on each selection day, and diversification constraints are reviewed on each monitoring 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 | |||
| Interim adjustment notice period | 2 trading days | SOLACTIVE will announce the INDEX adjustment giving a notice period of at least two TRADING DAYS (with respect to the affected INDEX COMPONENT) on the SOLACTIVE website under the Section “Announcements”, which is available at https://www.solactive.com/news/announcements/.Open p.11 ↗ |
For an interim index adjustment, Solactive gives notice of at least two trading days with respect to the affected index component. |
| Extraordinary rebalance policy | Not permitted | The INDEX is not rebalanced extraordinarily.Open p.10 ↗ |
The index is not rebalanced extraordinarily. |
| Review types | Scheduled review, Ad hoc | — (not found verbatim in the PDF) |
|
| Data cutoff rule | Selection is determined on the selection day, weights on the monitoring selection day, and shares on the fixing day. | — (not found verbatim in the PDF) |
|
| Announcement rule | Changes are published on Solactive's website under Announcements with sufficient notice before the rebalance day. | — (not found verbatim in the PDF) |
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| Effective date rule | Ordinary adjustments occur on the adjustment day and monitoring adjustment day after close of business; interim corporate-action adjustments occur on the effective day stated in the notice. | — (not found verbatim in the PDF) |
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| M8 Corporate actions, IPOs, ad-hoc changes · 7 fields | |||
| Corporate action adjustment scope | A corporate-action adjustment may affect an index component, the number of index components, and/or the weighting of certain components. | Such adjustment may have to be done in relation to an INDEX COMPONENT and/or may also affect the number of INDEX COMPONENTS and/or the weighting of certain INDEX COMPONENTS and will be made in compliance with the Solactive Equity Index MethodologyOpen p.11 ↗ |
A required interim adjustment may affect an index component, the number of index components, or the weighting of certain components. |
| 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 Distributions (e.g. payment of a dividend) Stock distributions (e.g. payment of a dividend in form of additional shares) Stock distributions of another companyOpen p.12 ↗ |
Solactive identifies a non-exhaustive list of relevant corporate actions, including distributions, splits, capital changes, repurchases, spin-offs, mergers and acquisitions, delistings, nationalization, and insolvency. |
| Ad-hoc deletion | Delisting, Acquisition, Bankruptcy, Other | — (not found verbatim in the PDF) |
|
| 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; Solactive may deviate for unusual or complex events to preserve comparability and representativeness. | — (not found verbatim in the PDF) |
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| Corporate actions guide ref | Equity Index Methodology | — (not found verbatim in the PDF) |
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| 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 | |||
| Foreign exchange intraday source | current 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 denominated in currencies other than the index currency are converted using current ICE spot foreign exchange rates. |
| Foreign exchange closing source | 04:00 p.m. London time WM Fixing quoted by Reuters | 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 denominated in currencies other than the index currency are converted using the 4:00 p.m. London time WM Fixing quoted by Reuters. |
| Closing FX fallback | last available 04:00 p.m. London time WM Fixing | If there is no 04:00 p.m. London time WM Fixing for the relevant CALCULATION DAY, the last available 04:00 p.m. London time WM Fixing will be used for the closing level calculation.Open p.5 ↗ |
If the relevant day's 4:00 p.m. London time WM Fixing is unavailable, the last available fixing is used for the closing calculation. |
| Divisor precision | 6 decimal places | Divisors will be rounded to 6 decimal places.Open p.11 ↗ |
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 6 decimal places.Open p.11 ↗ |
Trading prices and foreign exchange rates are rounded to six decimal places. |
| 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.11 ↗ |
The index uses a divisor index formula, with index level changes driven by constituent price changes, weights, and any required currency conversion. |
| Price source | exchange trading prices intraday; exchange closing prices for the closing level; most recent closing price or last preceding trading day's trading price when no current trading price exists | The level of the INDEX is calculated on each CALCULATION DAY from 1:00am to 10:50pm CET based on the TRADING PRICES on the EXCHANGES on which the INDEX COMPONENTS are listed.Open p.5 ↗ |
Intraday calculation uses exchange trading prices, the closing level uses constituent closing prices, and stale-price fallbacks apply when a current trading price is unavailable. |
| Calculation frequency | intraday from 1:00am to 10:50pm CET on each calculation day, plus a daily closing level | The level of the INDEX is calculated on each CALCULATION DAY from 1:00am to 10:50pm 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 and once for the daily closing level. |
| Precision | 4 decimal places | The level of the INDEX will be rounded to 4 decimal places.Open p.11 ↗ |
The published index level is rounded to four decimal places. |
| Return variants | NTR | The INDEX is calculated as a net total return Index.Open p.11 ↗ |
The index is calculated as a net total return index. |
| Dividend treatment | Dividends and other distributions are reinvested across the entire index basket by means of 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.11 ↗ |
Cash dividends and other distributions are reinvested across the whole constituent basket through a divisor adjustment 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.11 ↗ |
Dividends and other distributions trigger reinvestment through a divisor adjustment. |
| Market disruption rule | During market stress, Solactive follows the predefined arrangements in the incorporated Solactive Disruption Policy; stress may produce inaccurate or delayed prices and may limit or impair index determination. | 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.13 ↗ |
In periods of market stress, the index is calculated under the Solactive Disruption Policy, which is incorporated by reference. |
| Recalculation policy | Solactive endeavors to correct identified errors within a reasonable period, with measures and timing governed by the incorporated Solactive Correction Policy. | SOLACTIVE endeavors to correct all errors that have been identified within a reasonable period of time.Open p.13 ↗ |
Identified index errors are corrected within a reasonable period according to the Solactive Correction Policy, which is incorporated by reference. |
| 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 · 13 fields | |||
| Discretion governance | Discretion and expert judgement must follow strict rules. | shall be made in accordance with strict rules regarding the exercise of discretion or expert judgement.Open p.14 ↗ |
Any discretion or expert judgement used in determining the index must be exercised under strict governance rules. |
| Change trigger example | Methodology changes may be identified when the underlying market or economic reality changes and existing assumptions or factors become obsolete, less accurate, reliable, or appropriate. | 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 beforeOpen p.14 ↗ |
A review may lead to a methodology change when market or economic reality has changed and the current methodology relies on obsolete assumptions. |
| Amendment approval | Rule amendments 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.15 ↗ |
Any amendment to the index rules or guideline must receive prior Oversight Committee approval and comply with the Methodology Policy. |
| Method final and binding | Yes | The application by the INDEX ADMINISTRATOR of the method described in this document is final and binding.Open p.14 ↗ |
The index administrator's application of the described method is stated to be final and binding. |
| No change notification obligation | Yes | The INDEX ADMINISTRATOR is not obliged to provide information on any such modifications or changes.Open p.14 ↗ |
The index administrator is not obligated to provide information about modifications or changes to the calculation method. |
| 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.15 ↗ |
The Solactive Oversight Committee, composed of staff from Solactive and its subsidiaries, is responsible for approving 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 needed for market, supervisory, legal, financial, or tax reasons, changes 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.14 ↗ |
Solactive may exercise discretion over universe determination, component selection, other relevant index decisions, required market or regulatory changes, and corrections of errors or deficient terms. |
| Methodology review frequency | at least annually | The methodology of the INDEX is subject to regular review, at least annually.Open p.14 ↗ |
The index methodology is reviewed regularly, at least once per year. |
| Error correction policy | Index errors are handled under the incorporated Solactive Correction Policy; Solactive has no obligation to advise third parties of errors and endeavors to correct identified errors within a reasonable period. | There is no obligation for SOLACTIVE – irrespective of possible obligations to issuers – to advise third parties, including investors and/or financial intermediaries, of any errors in the INDEX.Open p.3 ↗ |
Errors are corrected under the Solactive Correction Policy, but the document states that Solactive is not obligated to notify third parties of errors. |
| 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.14 ↗ |
Methodology changes are announced on the Solactive website in the Announcements section. |
| Cessation policy | Orderly cessation may occur when no other options remain, such as after substantial changes in underlying market or economic reality, incoherent index rules or selection criteria, or no use as an underlying value; procedures 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.15 ↗ |
If continuation is not feasible, Solactive may orderly cease the index under the incorporated Solactive Termination Policy after considering stakeholder information, consultation, termination, or transition procedures. |
| 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 · 30Model-written, for reference
- 1Index base value and base date are not stated; only the 30 January 2018 start date is provided.
- 2Calculation agent is not separately identified from the index administrator.
- 3Specific exchanges and listing boards are not stated.
- 4The exact length and definition of the TRADING MEASUREMENT PERIOD are not included.
- 5The document does not state a regulatory benchmark status such as regulated, significant, or non-significant.
- 6No explicit minimum free-float percentage, foreign room, voting rights, minimum share price, financial-health screen, suspension rule, or extreme-price screen is provided in the sections.
- 7No fixed target constituent count or target count range is stated; all eligible universe members are generally included.
- 8No explicit tie-break rule beyond preference for current constituents and free-float market-capitalization prioritization is stated.
- 9No industry-neutrality or sector-balancing rule in selection is stated.
- 10No reserve list or pre-ranked replacement candidate pool is stated.
- 11No domestic inclusion factor is stated.
- 12No foreign ownership limit or foreign-room treatment is stated.
- 13No separate sector cap or country cap is stated.
- 14No shares-outstanding data source or update schedule is stated.
- 15No divisor continuity or divisor adjustment rule is stated.
- 16The provided sections do not state the ordinary review or rebalance frequency, review months, or calendar schedule for selection days, adjustment days, or rebalance days.
- 17No rank buffer, size-segment buffer, liquidity buffer for existing constituents, or maximum turnover per review is stated.
- 18No fast-entry rule for large new listings is stated.
- 19No replacement policy or reserve-list treatment for removed constituents is stated.
- 20No deletion price is stated.
- 21No numerical threshold for implementing share or free-float changes between reviews is stated.
- 22The provided sections do not state whether insolvency maps to bankruptcy only or has a separate ad-hoc treatment; it is reported under bankruptcy with other relevant corporate actions noted.
- 23The provided sections do not state a distinct weight-reset frequency or whether it differs from the ordinary rebalance schedule.
- 24No explicit withholding tax rate or tax basis for the net total return variant is stated.
- 25No explicit external review or public consultation procedure is stated.
- 26No definition of a material methodology change is stated.
- 27No notice period for methodology or constituent changes is stated.
- 28No publication frequency or publication location specifically for constituent lists is stated.
- 29No exhaustive list of divisor adjustment events beyond dividends and other distributions is stated.
- 30Not 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 · 88 of 88 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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