Also known as: MLPAMIDG Index (Bloomberg) · DE000SL0ALT1 (Solactive code) · .MLPAMIDG (RIC)
At a glance
- Weighting schemeCapped market cap
- Constituent countMinimum: 20; Maximum: 30
- Single capRank: 1; Cap (%): 10, Rank: 2; Cap (%): 9, Rank: 3; Cap (%): 8, Rank: 4; Cap (%): 7, Rank: 5; Cap (%): 6, Rank: 6; Cap (%): 5
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 18 fields | |||
| Rebalancing frequency | Quarterly | Regional Allocation Developed Markets Rebalancing Fee - Rebalancing Frequency QuarterlyOpen p.4 ↗ |
The index is rebalanced quarterly. |
| Asset class | Equity | Category Description Asset Class Equity Representation of companiesOpen p.4 ↗ |
The index asset class is equity. |
| Index name | Solactive MLP Infrastructure Index | Solactive MLP Infrastructure Index DE000SLA4HM5 USD PR* .MLPAMIDP (Price)Open p.4 ↗ |
The official index name is the Solactive MLP Infrastructure Index. |
| Index short name | MLPAMID | Historical values from the 24/03/2015 for MLPAMID and MLPAMIDP and from the 06/03/2020 for MLPAMIDG, the LIVE DATEOpen p.4 ↗ |
The index short name or ticker stem is MLPAMID, with MLPAMIDG and MLPAMIDP used for return variants. |
| Index code | MLPAMID | Solactive MLP DE000SLA4HN3 USD NTR* .MLPAMID MLPAMID Index Infrastructure IndexOpen p.4 ↗ |
The vendor ticker shown for the net total return index is MLPAMID. |
| ISIN | DE000SL0ALT1, DE000SLA4HN3, DE000SLA4HM5 | Name ISIN Currency Type RIC BBG ticker Solactive MLP Infrastructure (Gross) DE000SL0ALT1 USD GTROpen p.4 ↗ |
The gross total return, net total return, and price index variants have ISINs DE000SL0ALT1, DE000SLA4HN3, and DE000SLA4HM5. |
| Vendor codes | Bloomberg: MLPAMIDG Index, MLPAMID Index; Refinitiv: .MLPAMIDG, .MLPAMID, .MLPAMIDP | Name ISIN Currency Type RIC BBG ticker Solactive MLP Infrastructure (Gross) DE000SL0ALT1 USD GTR .MLPAMIDG MLPAMIDG IndexOpen p.4 ↗ |
Bloomberg tickers are MLPAMIDG Index, MLPAMID Index, and MLPAMIDP Index; the listed RICs are .MLPAMIDG, .MLPAMID, and .MLPAMIDP. |
| Administrator | Solactive AG | The INDEX is published on the website of the INDEX ADMINISTRATOR (https://www.solactive.com/)Open p.4 ↗ |
Solactive AG is the index administrator and publisher. |
| Index family | Solactive MLP Infrastructure Index | SOLACTIVE MLP INFRASTRUCTURE INDEXOpen p.1 ↗ |
The index belongs to Solactive's MLP Infrastructure index family. |
| Launch date | 2010-02-28 | The initial level of the INDEX on the 28/02/2010, the START DATE, is 100.Open p.5 ↗ |
The start date of the index is 28 February 2010. |
| Base date | 2010-02-28 | The initial level of the INDEX on the 28/02/2010, the START DATE, is 100.Open p.5 ↗ |
The index base or start date is 28 February 2010. |
| Base value | 100 | The initial level of the INDEX on the 28/02/2010, the START DATE, is 100.Open p.5 ↗ |
The initial index level on the start date is 100. |
| Currency | USD | Solactive MLP Infrastructure (Gross) DE000SL0ALT1 USD GTROpen p.4 ↗ |
The index is calculated in USD. |
| Methodology version | 5.1 | Version 5.1Open p.1 ↗ |
The methodology document is Version 5.1. |
| Objective | Representation of companies that are structured as Master Strategy Limited Partnerships (MLP) and that are engaged in own and operate assets used in energy logistics. | Representation of companies that are structured as Master Strategy Limited Partnerships (MLP) and that are engaged in own and operate assets used in energy logistics.Open p.4 ↗ |
The index represents companies structured as Master Strategy Limited Partnerships that own and operate assets used in energy logistics. |
| Market classification | Developed | Regional Allocation Developed Markets Rebalancing Fee - Rebalancing Frequency QuarterlyOpen p.4 ↗ |
The index's regional allocation is developed markets. |
| Index family type | Thematic | Asset Class Equity Representation of companies that are structured as Master Strategy Limited Partnerships (MLP) and that are engaged in own and operate assets used in energy logistics.Open p.4 ↗ |
The index is a thematic equity index focused on MLP infrastructure and energy logistics. |
| Limitations | Levels published before the live date are back-tested rather than actual historical index levels. | Levels of the INDEX published for a period prior to the LIVE DATE have been back-tested.Open p.5 ↗ |
Index levels published for a period prior to the live date have been back-tested. |
| M2 Universe · 7 fields | |||
| Eligible universe | The index universe comprises all financial instruments that meet the index universe requirements and forms the starting pool from which index components are selected. | 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 poolOpen p.6 ↗ |
The index universe is the starting pool of financial instruments meeting the stated requirements, from which index components are selected. |
| Market watch requirement | Companies must be part of the market watch for the Solactive MLP Infrastructure Index. | 3) Part of the MARKET WATCH for the Solactive MLP Infrastructure Index which includes companies structured as Master Limited PartnershipOpen p.6 ↗ |
A company must be part of the market watch for the Solactive MLP Infrastructure Index. |
| Business focus | Owning and operating assets used in energy logistics, including pipelines, storage, compression, marketing, distribution, transportation, gathering, and processing of natural gas, natural gas liquids, crude oil, or refined products. | with a business focus on owning and operating assets used in energy logistics, including, but not limited to, pipelines, storage facilities, compression servicesOpen p.6 ↗ |
Companies must focus on owning and operating energy-logistics assets for natural gas, natural gas liquids, crude oil, or refined products. |
| Markets | United States, developed markets | 1) Listed on a regulated stock exchange in the United StatesOpen p.6 ↗ |
The index covers United States-listed instruments and is regionally allocated to developed markets. |
| Exchanges | regulated stock exchanges in the United States | 1) Listed on a regulated stock exchange in the United StatesOpen p.6 ↗ |
Eligible financial instruments must be listed on a regulated stock exchange in the United States. |
| Security types | Other | 2) Structured as Master Limited Partnership, taxed as partnership, or a Master Limited Partnership which is taxed as a corporationOpen p.6 ↗ |
The universe consists of equity financial instruments structured as master limited partnerships, which are represented here as other structured equity securities. |
| Exclusions | General Partners | 7) General Partners (GPs) are not eligible for inclusionOpen p.6 ↗ |
General Partners are not eligible for inclusion in the index. |
| M3 Eligibility screens · 5 fields | |||
| Partnership structure requirement | The instrument must be structured as a master limited partnership taxed as a partnership, or as a master limited partnership taxed as a corporation. | 2) Structured as Master Limited Partnership, taxed as partnership, or a Master Limited Partnership which is taxed as a corporationOpen p.6 ↗ |
Eligible instruments must be master limited partnerships taxed either as partnerships or as corporations. |
| Liquidity screen | Metric: Average daily value; Window: last three months; Threshold: 2,500,000 | 5) Average daily traded value in the last three months of at least 2,500,000 USDOpen p.6 ↗ |
Average daily traded value over the last three months must be at least USD 2,500,000. |
| Minimum size | Metric: Float adjusted market cap; Threshold: 2,000,000,000 | 4) FREE FLOAT MARKET CAPITALIZATION of at least 2,000 million USDOpen p.6 ↗ |
Free-float market capitalization must be at least USD 2,000 million. |
| Financial screens | The company must have maintained or grown its distribution quarter over quarter in at least one of the trailing two quarters. | 6) Maintained or grown its distribution quarter-over-quarter for at least one of the trailing two quartersOpen p.6 ↗ |
A company must have maintained or grown its distribution quarter over quarter for at least one of the trailing two quarters. |
| Business or ESG exclusions | General Partners are excluded. | 7) General Partners (GPs) are not eligible for inclusionOpen p.6 ↗ |
General Partners are excluded from eligibility. |
| M4 Selection and constituent count · 10 fields | |||
| Partnership taxation preference | All eligible infrastructure MLPs taxed as partnerships are added before corporate-taxed infrastructure MLPs are considered. | All infrastructure MLPs which fulfil the INDEX UNIVERSE REQUIREMENTS criteria as outlined in SectionOpen p.6 ↗ |
Infrastructure MLPs satisfying the universe requirements and taxed as partnerships are added first; corporate-taxed infrastructure MLPs are added only if fewer than 20 qualifying companies remain. |
| Pending merger exclusion | Yes | If a company, which is not a current INDEX COMPONENT, has publicly announced a merger agreement to be acquired as of the SELECTION DAY, it will not be considered eligible for the SELECTION POOL.Open p.6 ↗ |
A non-constituent company that has publicly announced a merger agreement to be acquired as of the selection day is excluded from the selection pool. |
| Relaxation minimum free float market capitalization | 1,000 million USD | Minimum FREE FLOAT MARKET CAPITALIZATION is relaxed up to 1,000 million USDOpen p.6 ↗ |
If fewer than 20 companies qualify, the minimum free-float market capitalization is relaxed, in order, up to USD 1,000 million. |
| Relaxation minimum average daily traded value | 2 million USD | Minimum Average daily traded value in the last three months is relaxed up to 2 million USDOpen p.6 ↗ |
If needed, the minimum average daily traded value over the last three months is relaxed up to USD 2 million. |
| Relaxation distribution growth | Distribution must have been maintained or grown quarter over quarter in at least one of the trailing three quarters. | Maintained or grown its distribution quarter-over-quarter for at least one of the trailing three quartersOpen p.6 ↗ |
If needed, the distribution criterion is relaxed to require maintained or grown quarter-over-quarter distributions in at least one of the trailing three quarters. |
| Stepwise relaxation rule | Criteria are relaxed step by step only until 20 components pass. | To clarify, the criteria is only relaxed step-by-step until there are 20 INDEX COMPONENTS to pass the criteria.Open p.6 ↗ |
The relaxed criteria are applied sequentially, only until 20 index components satisfy the criteria. |
| Secondary minimum free float relaxation | 50 million USD | If this procedure would result in a number of INDEX COMPONENTS of less than 20, the Minimum FREE FLOAT MARKET CAPITALIZATION requirement is relaxed up to 50 million USD.Open p.7 ↗ |
If the procedure still produces fewer than 20 components, the minimum free-float market capitalization requirement is relaxed up to USD 50 million. |
| Selection method | Rank by metric | The companies in the INDEX UNIVERSE are ranked in a descending order according to their FREE FLOAT MARKET CAPITALIZATION expressed in USD.Open p.6 ↗ |
Eligible infrastructure MLPs are ranked by free-float market capitalization, and the highest-ranked companies are selected. |
| Ranking metrics | Name: Free float market capitalization; Direction: Descending; Step order: 4 | The companies in the INDEX UNIVERSE are ranked in a descending order according to their FREE FLOAT MARKET CAPITALIZATION expressed in USD.Open p.6 ↗ |
Companies are ranked in descending order by free-float market capitalization expressed in USD. |
| Target constituent count | Minimum: 20; Maximum: 30 | The required number of INDEX COMPONENTS is 20 and the maximum number of INDEX COMPONENTS is 30.Open p.6 ↗ |
The index targets 20 constituents, permits fewer than 20 if insufficient companies qualify after relaxations, and selects no more than the 30 highest-ranked eligible companies. |
| M5 Weighting and capping · 8 fields | |||
| Lower ranked component cap | Components ranked below 6 are capped at the weight of the rank-6 component. | all INDEX COMPONENTS with a rank number above 6 are capped at the weight of the Index Component with rank number 6.Open p.7 ↗ |
All components ranked seventh or lower are capped at the weight assigned to the sixth-ranked component. |
| Excess weight redistribution | Excess weight from capped components is allocated proportionally to all components whose percentage weights are not capped. | The excess weight is allocated proportionally to all INDEX COMPONENTS whose percentage weight is not capped.Open p.7 ↗ |
Weight removed through capping is redistributed proportionally to uncapped components. |
| Fewer than 20 components cap adjustment | Increment pct per missing component: 0.5; Applies to: six highest-ranked index components | If there are fewer than 20 INDEX COMPONENTS, the cap on each of the six highest-ranked INDEX COMPONENTS is increased by 0.5% multiplied by the difference between 20 and the current number of INDEX COMPONENTS.Open p.7 ↗ |
If fewer than 20 components are included, each of the six highest-ranked components' caps rises by 0.5 percentage point for each component below 20. |
| Oversight committee weighting discretion | The Oversight Committee may revise the weighting methodology if the weighting requirements cannot be met and may amend the capping methodology. | In case the above-mentioned weighting requirements can no longer be met, the Oversight Committee may decide to revise on the weighting methodology and determine appropriate actions.Open p.8 ↗ |
The Oversight Committee may determine appropriate weighting actions when requirements cannot be met and may amend capping to ensure representation and U.S. regulatory compliance. |
| Weighting scheme | Capped market cap | On each SELECTION DAY each INDEX COMPONENT of the Solactive MLP Infrastructure Index is weighted proportionally according to its FREE FLOAT MARKET CAPITALIZATION.Open p.7 ↗ |
Components are weighted proportionally to free-float market capitalization and then subject to rank-based caps. |
| Weight cap | Rank: 1; Cap (%): 10, Rank: 2; Cap (%): 9, Rank: 3; Cap (%): 8, Rank: 4; Cap (%): 7, Rank: 5; Cap (%): 6, Rank: 6; Cap (%): 5 | The percentage weight of an INDEX COMPONENT with the highest FREE FLOAT MARKET CAPITALIZATION is capped at 10%, the INDEX COMPONENT with the second highest FREE FLOAT MARKET CAPITALIZATION is capped at 9%.Open p.7 ↗ |
The six highest-ranked components are capped at 10%, 9%, 8%, 7%, 6%, and 5%, respectively. |
| Cap application timing | At review | On each SELECTION DAY each INDEX COMPONENT of the Solactive MLP Infrastructure Index is weighted proportionally according to its FREE FLOAT MARKET CAPITALIZATION.Open p.7 ↗ |
Weighting and capping restrictions are applied on each selection day, with shares implemented at the close of the following adjustment day. |
| Divisor adjustment rule | Share counts calculated from selection-day weights are implemented at the adjustment-day close to match the correct index level on the adjustment day. | To match the correct INDEX level on the ADJUSTMENT DAY, this is carried out by implementing the shares as determined based on the weights calculated on the SELECTION DAY.Open p.8 ↗ |
To maintain index-level continuity, shares determined from weights calculated on the selection day are implemented at the close of the adjustment day. |
| M6 Review and rebalance schedule · 6 fields | |||
| Ordinary rebalance implementation | The index is adjusted by implementing shares and weights 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.8 ↗ |
At an ordinary rebalance, the index reflects the newly selected components using the shares and weights determined on the selection day. |
| Ordinary rebalance reference guide | Equity Index Methodology | For more information on the rebalance procedure please refer to the Equity Index Methodology, which is incorporated by reference and available on the Solactive websiteOpen p.8 ↗ |
The ordinary rebalance procedure refers to the Solactive Equity Index Methodology. |
| 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 ADJUSTMENT DAY after the CLOSE OF BUSINESS.Open p.8 ↗ |
The index has ordinary rebalances based on selections made on a selection day and extraordinary or other adjustments between regular rebalances. |
| Data cutoff rule | Shares and weights are 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.8 ↗ |
For ordinary rebalancing, shares are implemented as determined on the selection day, based on weights calculated on the selection day. |
| Announcement rule | Ordinary rebalance: Published with sufficient notice before the rebalance day in the Solactive website Announcements section; Extraordinary rebalance: Announced after close of business on the day the oversight committee determines the new index composition; Interim adjustment: At least two trading days' notice for the affected component, with implementation on the effective day specified in the notice | SOLACTIVE will publish any changes made to the INDEX COMPONENTS with sufficient notice before the REBALANCE DAY on the SOLACTIVE website under the section “Announcements”Open p.9 ↗ |
Ordinary constituent changes are published with sufficient notice before rebalancing; extraordinary replacements are announced after close on the determination day; other interim adjustments receive at least two trading days' notice. |
| Effective date rule | Ordinary changes take effect on the adjustment day after close of business; interim corporate-action adjustments take effect on the day stated in the relevant notice. | the INDEX is adjusted on the ADJUSTMENT DAY after the CLOSE OF BUSINESS.Open p.8 ↗ |
Ordinary rebalancing is implemented after close of business on the adjustment day, while corporate-action adjustments are implemented on the effective day specified in the notice. |
| M8 Corporate actions, IPOs, ad-hoc changes · 9 fields | |||
| Extraordinary successor weighting | A successor receives a weight based on its free-float market capitalization as of the business day preceding Solactive's announcement, and the difference from the removed company's weight is distributed proportionally among remaining components. | The successor will be given the weight based on its FREE FLOAT MARKET CAPITALIZATION (as of BUSINESS DAY preceding the announcement by SOLACTIVE). The weight difference between the successor and the removed company will be distributed proportionallyOpen p.9 ↗ |
An extraordinary successor is weighted by free-float market capitalization as of the business day before the announcement, with the weight difference allocated proportionally to the other constituents. |
| Extraordinary rebalance timing | The index is adjusted on the same day as an extraordinary replacement. | The weight difference between the successor and the removed company will be distributed proportionally to the remaining INDEX COMPONENTS. The Solactive MLP Infrastructure Index is adjusted on the same day.Open p.9 ↗ |
When an extraordinary successor is designated, the Solactive MLP Infrastructure Index is adjusted on the same day. |
| Corporate action 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)Open p.10 ↗ |
Solactive announces index adjustments for corporate actions with at least two trading days' notice regarding the affected component. |
| 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)Open p.11 ↗ |
Solactive lists cash and stock distributions, splits, capital increases, repurchases, spin-offs, mergers and acquisitions, delistings, nationalization and insolvency as relevant, non-exhaustive corporate actions. |
| Ad-hoc deletion | Delisting, Acquisition, Bankruptcy, Other | Spin-offs (the company splits its business activities into two or more entities and distributes new equity shares in the created entities to the shareholders of the former entity)Open p.11 ↗ |
Relevant events include delistings, mergers and acquisitions, insolvency, nationalization, spin-offs and other corporate actions that may require an index adjustment. |
| Replacement policy | Reserve list | if necessary, the OVERSIGHT COMMITTEE shall designate a successor, if the INDEX would otherwise consist of less than 20 companies.Open p.9 ↗ |
If a constituent is removed due to an extraordinary event and the index would otherwise contain fewer than 20 companies, the oversight committee designates a successor. |
| Merger spinoff rules | Corporate actions, including spin-offs and mergers or acquisitions, are implemented from cum-day to ex-day under the Equity Index Methodology; Solactive may deviate for unusual or complex actions to preserve comparability and representativeness. | 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 ↗ |
Mergers, acquisitions, spin-offs and other corporate actions are adjusted from cum-day to ex-day and are handled under the Equity Index Methodology, with possible deviation for unusual or complex events. |
| 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 and interim adjustment treatments are governed by the Solactive Equity Index Methodology, which is incorporated by reference. |
| 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 conversion intraday | 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 of components not quoted in the index currency are converted using the current ICE spot foreign exchange rate. |
| Foreign exchange conversion closing | 4:00 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 of components not quoted in the index currency are converted using the 4:00 p.m. London time WM Fixing quoted by Reuters. |
| Closing FX fallback | Last available 4:00 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 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.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 6 decimal places.Open p.10 ↗ |
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.10 ↗ |
The index uses a divisor-based equity index formula. |
| Price source | Intraday calculations use current trading prices on the constituent exchanges; if no current trading price exists, the later of the most recent closing price or last available trading price for the preceding trading day is used. Closing levels use closing prices on the respective exchanges. | based on the TRADING PRICES on the EXCHANGES on which the INDEX COMPONENTS are listed.Open p.5 ↗ |
Intraday calculations use exchange trading prices, with stale-price fallback rules, and closing calculations use exchange closing prices. |
| Calculation frequency | Each calculation day from 09:30 to 16:50 EST, plus a daily closing level | The level of the INDEX is calculated on each CALCULATION DAY from 09:30am to 4:50pm EST based on the TRADING PRICES on the EXCHANGESOpen p.5 ↗ |
The index is calculated intraday on each calculation day from 09:30 a.m. to 4:50 p.m. EST and also has a closing level on each calculation day. |
| Precision | 4 decimal places | The level of the INDEX will be rounded to 4 decimal places.Open p.10 ↗ |
The published index level is rounded to four decimal places. |
| Return variants | GTR | The INDEX is calculated as a gross total return Index.Open p.10 ↗ |
The index is calculated as a gross total return index. |
| Dividend treatment | Dividends and other distributions are reinvested across the entire 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)Open p.10 ↗ |
Cash dividends and other distributions are reinvested across all index components through a divisor at the opening of their 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)Open p.10 ↗ |
Dividends and other distributions trigger divisor treatment when reinvested 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 PolicyOpen p.12 ↗ |
During market stress resulting in inaccurate or delayed prices, calculation follows the Solactive Disruption Policy. |
| 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 ↗ |
Identified index errors are corrected within a reasonable period under 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 | |||
| Administrator role | Solactive AG owns, calculates, administers, and publishes the index and acts as benchmark administrator under the EU BMR. | 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 ↗ |
Solactive AG owns, calculates, administers, and publishes the index as its EU Benchmark Regulation administrator. |
| Rule amendment approval | Prior Oversight Committee approval is required for amendments that may amend the guideline. | Any such amendment, which may result in an amendment of the GUIDELINE, must be submitted to the OVERSIGHT COMMITTEE for prior approvalOpen p.14 ↗ |
Any amendment that may change the guideline must receive prior approval from the Oversight Committee. |
| Method final and binding | Yes | 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 described method is final and binding. |
| Change triggers | market environment, supervisory reasons, legal reasons, financial reasons, tax reasons, obvious or demonstrable error, incorrect terms and conditions | 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 method may be required by market, supervisory, legal, financial, or tax reasons, or to prevent or correct errors. |
| Oversight body | Solactive Oversight Committee | 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 composed of staff from Solactive and its subsidiaries 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 needed to prevent obvious or demonstrable error or to remedy, correct, or supplement incorrect terms and conditions | 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 INDEXOpen p.13 ↗ |
Discretion may apply to index-universe determination, component selection, other relevant index decisions, and corrections needed to prevent or remedy errors, subject to Solactive's discretion 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. |
| Error correction policy | Errors are corrected within a reasonable period as specified in the Solactive Correction Policy; Solactive is not obliged to advise third parties of errors. | SOLACTIVE endeavors to correct all errors that have been identified within a reasonable period of time.Open p.12 ↗ |
Index errors are handled under the Solactive Correction Policy, and the document states that Solactive has no obligation 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 “Announcements”Open p.13 ↗ |
Methodology changes are announced in the Announcements section of the Solactive website. |
| Cessation policy | Orderly cessation may occur when the underlying market or economic reality changes substantially, index rules or selection criteria can no longer 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 ↗ |
If no alternative remains, Solactive may orderly cease the index under the incorporated Termination Policy after considering stakeholder consultation and 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 · 35Model-written, for reference
- 1No local-language index name is stated because the document is in English.
- 2No separate calculation agent is identified.
- 3No parent index or parent universe index is stated.
- 4No methodology publication date is stated.
- 5No benchmark regulatory status such as regulated, significant, or non-significant is stated.
- 6No intended use such as ETF or derivatives benchmark is stated.
- 7No explicit size-segment classification is stated.
- 8No factor exposures are stated.
- 9No listing board or market segment is specified.
- 10No minimum trading history is stated.
- 11No minimum free-float percentage is stated; the document uses free-float market capitalization only.
- 12No foreign room, voting rights, or minimum share price screen is stated.
- 13No suspension treatment or abnormal price increase screen is stated.
- 14No explicit tie-breaking rule for equal free-float market capitalization rankings is stated.
- 15No sector or industry neutrality requirement in selection is stated.
- 16No reserve list or pre-ranked replacement candidate rule is stated.
- 17No explicit free-float factor methodology or free-float bands are stated beyond use of free-float market capitalization.
- 18No domestic inclusion factor is stated.
- 19No foreign ownership limit treatment is stated.
- 20No aggregate top-N group cap, sector cap, or country cap is stated.
- 21The source and update timing for shares outstanding are not specified, except that calculated numbers of shares as of the selection day are implemented on the adjustment day.
- 22The stated sections do not specify the ordinary review or rebalance frequency, review months, or specific calendar rule for selection day or adjustment day.
- 23No rank buffer, size-segment buffer, liquidity buffer for existing constituents, or maximum turnover per review is stated.
- 24No fast-entry rule for large new listings is stated.
- 25No deletion price or share/float-change threshold is stated.
- 26The successor source is not described as a pre-ranked reserve list; replacement policy is mapped to reserve list because the oversight committee designates a successor, but the selection pool is not specified.
- 27The supplied corporate-action list includes nationalization and several non-deletion events, but it does not identify all of them as deletion triggers.
- 28No explicit withholding-tax basis is stated because the documented index version is gross total return.
- 29No complete list of divisor-adjustment events beyond dividends and other distributions is stated.
- 30No methodology-change notice period is stated.
- 31No external review or consultation procedure for methodology changes is stated.
- 32No definition of a material methodology change is stated.
- 33No publication frequency or location specifically for constituent lists is stated.
- 34The intraday calculation interval is stated, but the real-time update frequency within that interval is not specified.
- 35Not 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 · 90 of 90 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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