Also known as: 臺灣優選成長高股息指數 · IX0184 Index (Bloomberg) · IX0184 (TIP code)
Tracked by: 00934 (ETF)
At a glance
- Weighting schemeFactor tilted
- Review frequencySemi-annual
- Constituent count50
- Single cap7
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 12 fields | |||
| Target constituent count | 50 securities | 篩選出因子綜合表現佳之50 檔股票。Open p.1 ↗ |
The index selects 50 stocks with strong composite factor performance. |
| Weighting method | Group weighting using an exponentially smoothed liquidity indicator together with dividend yield. | 成分股以指數平滑法計算流動性指標搭配殖利率，進行分組加權Open p.1 ↗ |
Constituents are grouped and weighted using an exponentially smoothed liquidity indicator together with dividend yield. |
| Index name | Taiwan Index Company Select Taiwan Listed and Emerging Growth High Dividend Index | 臺灣指數公司特選臺灣上市上櫃優選成長高股息指數(簡稱「臺灣優選成長高股息指數」)係以臺灣上市上櫃股票為母體Open p.1 ↗ |
The document's full local name is Taiwan Index Company Select Taiwan Listed and OTC Growth High Dividend Index. |
| Index short name | 臺灣優選成長高股息指數 | 臺灣指數公司特選臺灣上市上櫃優選成長高股息指數(簡稱「臺灣優選成長高股息指數」)Open p.1 ↗ |
The short name is Taiwan Select Growth High Dividend Index. |
| Local index name | 臺灣指數公司特選臺灣上市上櫃優選成長高股息指數 | 臺灣指數公司特選臺灣上市上櫃優選成長高股息指數(簡稱「臺灣優選成長高股息指數」)Open p.1 ↗ |
The official local-language index name is stated in the preface. |
| Administrator | 臺灣指數公司 | 臺灣指數公司特選臺灣上市上櫃優選成長高股息指數(簡稱「臺灣優選成長高股息指數」)Open p.1 ↗ |
The index provider is Taiwan Index Company. |
| Index family | 臺灣指數公司特選系列 | 臺灣指數公司特選臺灣上市上櫃優選成長高股息指數(簡稱「臺灣優選成長高股息指數」)Open p.1 ↗ |
The index is a Taiwan Index Company select-series index. |
| Objective | 表彰兼具高股息、成長性與流動性之股票投資組合績效表現。 | 表彰兼具高股息、成長性與流動性之股票投資組合績效表現。Open p.1 ↗ |
The index represents the performance of an equity portfolio combining high dividend, growth, and liquidity characteristics. |
| Market classification | Domestic | 係以臺灣上市上櫃股票為母體，經流動性以及指標篩選後Open p.1 ↗ |
The index covers domestic Taiwan listed and OTC stocks. |
| Size segment | Custom | 發行市值前200 大、或發行市值前300 大當中近三年平均殖利率前50 名。Open p.2 ↗ |
The index uses a custom selection pool based on issued market-cap ranks and dividend-yield rankings rather than a standard size segment. |
| Index family type | Multi factor | 經流動性以及指標篩選後，結合股息、成長以及品質等投資因子計算因子綜合分數Open p.1 ↗ |
The methodology combines dividend, growth, and quality factors, so the closest supported family type is a strategy index. |
| Factor exposures | Yield, Growth, Quality, Multi factor | 因子綜合分數 = 20%∗股息因子 + 50%∗成長因子 + 30%∗品質因子。Open p.2 ↗ |
The index score incorporates dividend, growth, and quality investment factors. |
| M2 Universe · 6 fields | |||
| Suspension exception | Stocks suspended because new shares are issued due to capital reduction, conversion to a holding company, newly established company, or par-value change may remain in the universe. | 但因減資或轉換為控股公司、新設公司或變更面額等原因換發新股票而停止買賣者仍可列入母體。Open p.1 ↗ |
Stocks suspended solely because replacement shares are issued in specified restructuring or par-value events may still be included. |
| Markets | Taiwan | 指數母體：臺灣證券交易所上市與中華民國證券櫃檯買賣中心上櫃普通股股票Open p.1 ↗ |
The eligible market is Taiwan, covering listed and OTC stocks. |
| Exchanges | 臺灣證券交易所, 中華民國證券櫃檯買賣中心 | 臺灣證券交易所上市與中華民國證券櫃檯買賣中心上櫃普通股股票Open p.1 ↗ |
The universe includes stocks listed on the Taiwan Stock Exchange and stocks traded OTC on the Taipei Exchange. |
| Security types | Common | 中華民國證券櫃檯買賣中心上櫃普通股股票Open p.1 ↗ |
The universe consists of common stocks. |
| Parent universe index | 指數母體 | 2. 採樣範圍：指數母體。Open p.1 ↗ |
The sampling scope is the index universe itself rather than a named parent index. |
| Exclusions | Managed stocks, Emerging stocks, Stocks with announced changed trading method, Suspended stocks | 非屬管理股票、興櫃股票及經公告為變更交易方法或停止買賣股票者；但因減資或轉換為控股公司、新設公司或變更面額等原因換發新股票而停止買賣者仍可列入母體。Open p.1 ↗ |
Managed stocks, emerging-market stocks, and stocks announced as having changed trading methods or suspended trading are excluded, subject to a share-swap exception. |
| M3 Eligibility screens · 11 fields | |||
| Dividend yield median screen | The most recent one-year dividend yield must not be below the median one-year dividend yield of stocks in the sampling scope. | c. 近一年殖利率不低於採樣範圍股票之近一年殖利率中位數。Open p.2 ↗ |
A candidate's one-year dividend yield must be at least the median one-year dividend yield of the sampling universe. |
| Selection ranking | Eligible stocks are ranked by composite factor score in descending order; the top 50% by historical dividend-gap-filling performance are selected first, and remaining stocks fill the 50-stock target. | 依照因子綜合分數大小遞減排序後；歷史填息表現較佳之50%優先選入，若不足再由剩餘股票補足50 檔成分股Open p.2 ↗ |
Eligible stocks are ranked by descending composite factor score, with the better half by historical ex-dividend price recovery selected first and the rest used to complete 50 constituents. |
| September factor score weights | Dividend factor: 20; Growth factor: 50; Quality factor: 30 | a. 9 月定審：因子綜合分數 = 20%∗股息因子 + 50%∗成長因子 + 30%∗品質因子。Open p.2 ↗ |
At the September periodic review, the composite score is 20% dividend, 50% growth, and 30% quality. |
| April factor score weights | Dividend factor: 50; Growth factor: 20; Quality factor: 30 | b. 4 月定審：因子綜合分數 = 50%∗股息因子 + 20%∗成長因子 + 30%∗品質因子。Open p.2 ↗ |
At the April periodic review, the composite score is 50% dividend, 20% growth, and 30% quality. |
| Dividend factor inputs | one-year dividend yield, average ex-dividend price recovery days over five years, standard deviation of ex-dividend price recovery days over five years | 股息因子：採近一年殖利率、近五年填息天數平均數以及標準差，三項指標加權計算。Open p.2 ↗ |
The dividend factor is calculated from one-year yield, the five-year average gap-filling days, and their standard deviation. |
| Growth factor inputs | year-over-year revenue per share over the most recent four quarters, year-over-year after-tax EPS over the most recent four quarters | 成長因子：採近四季每股營業收入YoY以及近四季稅後EPS之YoY，兩項指標加權計算。Open p.2 ↗ |
The growth factor is calculated from year-over-year four-quarter revenue per share and year-over-year four-quarter after-tax EPS. |
| Quality factor inputs | average after-tax ROE over the most recent twelve quarters, average after-tax EPS over the most recent twelve quarters | 品質因子：採近十二季平均稅後ROE 以及近十二季平均稅後EPS，兩項指標加權計算。Open p.2 ↗ |
The quality factor is calculated from average after-tax ROE and average after-tax EPS over twelve quarters. |
| Insufficient candidates relaxation | If fewer than 50 stocks qualify, the five-year cash dividend payment count is relaxed sequentially from four to three, two, or one year, while the five-year average cash dividend payout ratio must remain positive. | 由四年依序放寬條件為三年、兩年、一年直至滿足符合參、二、1 及2 所有條件者達50 檔股票為止，惟近五年平均現金股利發放率仍需為正數。Open p.2 ↗ |
If 50 qualifying stocks cannot be found, the required number of dividend-paying years is relaxed from four to three, two, or one, but the average payout ratio must remain positive. |
| Liquidity screen | Metric: Average daily value; Window: Most recent three months; Threshold: 20,000,000 | 1. 流動性檢驗：最近三個月日平均成交金額達2000 萬元以上。Open p.2 ↗ |
A security must have average daily trading value of at least NT$20 million over the most recent three months. |
| Minimum size | Metric: Rank; Threshold: Top 200 by issued market capitalization, or top 50 by three-year average dividend yield among the top 300 by issued market capitalization | 發行市值前200 大、或發行市值前300 大當中近三年平均殖利率前50 名。Open p.2 ↗ |
Candidates must rank in the top 200 by issued market capitalization, or rank among the top 50 by three-year average dividend yield within the top 300 by issued market capitalization. |
| Financial screens | Positive aggregate after-tax net profit over the most recent four quarters., Positive sum of EPS over the most recent four quarters., Positive average cash dividend payout ratio over the most recent five years., Cash dividends paid in at least four of the most recent five years. | a. 近四季稅後純益及近四季EPS 總和為正數。Open p.2 ↗ |
Candidates must have positive four-quarter after-tax profit and EPS, positive five-year average cash dividend payout, and at least four years of cash dividends. |
| M4 Selection and constituent count · 3 fields | |||
| Rank groups | Rank from: 1; Rank to: 30; Group: High score, Rank from: 31; Rank to: 50; Group: Next high score | 1 ≤ R ≤30為高分群，30 < R ≤50為次高分群Open p.3 ↗ |
Constituents are split into a high-score group for ranks 1-30 and a next-high-score group for ranks 31-50. |
| Weighting selection metric | Name: Dividend yield and liquidity; Formula: 近一年殖利率∗√流動性指標; Window: 近一年 | 依殖利率暨流動性(近一年殖利率∗√流動性指標)加權2。Open p.3 ↗ |
Weighting uses dividend yield and liquidity, calculated as the past-year dividend yield multiplied by the square root of the liquidity indicator. |
| Target constituent count | 50 securities | 以參、二、3 排序結果(R)為基準，將50 檔成分股分為兩群，1 ≤ R ≤30為高分群，30 < R ≤50為次高分群Open p.3 ↗ |
The index contains 50 constituent stocks. |
| M5 Weighting and capping · 8 fields | |||
| Minimum weight (%) | 0.5% | 個別成分股權重上限min(7%, 自由流通市值占比*5)，權重下限0.5%。Open p.3 ↗ |
Each constituent has a minimum weight of 0.5%. |
| Free float market cap share cap component | min(7%, free_float_market_capitalization_share * 5) | 個別成分股權重上限min(7%, 自由流通市值占比*5)，權重下限0.5%。Open p.3 ↗ |
The individual weight ceiling is the lesser of 7% and the constituent's free-float market-cap share multiplied by five. |
| Free float factor update timing | At periodic review effective date | 配合成分股定期審核生效日，更新自由流通量係數。Open p.5 ↗ |
The free-float factor is updated to coincide with the periodic constituent review effective date. |
| Free float factor data source | Taiwan Index Plus Free-Float Factor Compilation Rules, latest available data | 自由流通量係數依據臺灣指數公司「自由流通量係數編製規則」產製之最近期數據更新。Open p.5 ↗ |
The free-float factor is updated using the most recent data produced under Taiwan Index Company's free-float factor compilation rules. |
| Weighting scheme | Factor tilted | 依殖利率暨流動性(近一年殖利率∗√流動性指標)加權2。Open p.3 ↗ |
Constituents are weighted by a dividend-yield-and-liquidity metric rather than solely by market capitalization. |
| Free float factor | Method: Free float | 自由流通量係數若低於10%，則不納入成分股採樣。Open p.5 ↗ |
The free-float factor follows the free-float coefficient rules, is updated at periodic review effective dates, and securities with a factor below 10% are not sampled as constituents. |
| Weight cap | 7% | 個別成分股權重上限min(7%, 自由流通市值占比*5)，權重下限0.5%。Open p.3 ↗ |
An individual constituent's weight is capped at the minimum of 7% and five times its free-float market-capitalization share. |
| Divisor adjustment rule | Market-capitalization reference indices adjust the divisor while leaving coefficient products unchanged; investable and Smart Beta indices may adjust coefficient products or the divisor according to indexing-investment needs. | 「市值參考型指數」係傳統的市場參考指標，主要反映指數成分股價格波動所造成的發行市值消長，為避免僅因企業活動改變指數市值而導致指數斷層的不連續現象，採調整指數除數但係數乘積不變的方式，以維持指數的連續性From TIP Corporate Actions and Events Methodology ↗ |
To maintain index continuity, market-capitalization reference indices adjust the divisor without changing coefficient products, while market-capitalization investable and Smart Beta indices assess practical indexing needs and adjust coefficient products or the divisor. |
| M6 Review and rebalance schedule · 11 fields | |||
| Fixed constituent count after review | 50 constituents | 每次定期審核後選取固定的成分股檔數50 檔。Open p.4 ↗ |
Each scheduled review selects a fixed constituent count of 50 securities. |
| Divisor maintenance basis | The divisor is maintained using closing data on the trading day immediately before the scheduled-review transition period, measuring the market-capitalisation difference between the new and original constituent portfolios. | 指數除數維護方式，採成分股定期審核之指數調整過渡期前一交易日收盤資料，計算新成分股組合與原成分股組合之指數市値差異作為異動指數市值。Open p.4 ↗ |
The divisor is maintained using closing data from the trading day before the scheduled-review transition period and the market-capitalisation difference between the new and old constituent portfolios. |
| Insufficient history data rule | For holding companies or newly established companies with insufficient constituent-screening data for a scheduled review, data from a representative company or stock may be combined if the share-conversion representative qualifies for the sampling universe. | 控股公司或新設公司定期審核使用之成分股篩選資料期間不足者，如轉換股份之代表公司符合採樣母體資格，得合併採用該代表公司或股票之資料。Open p.5 ↗ |
When a holding company or newly established company lacks sufficient screening history, data from a qualifying representative company or stock may be combined. |
| Review frequency | Semi-annual | 每年2 次進行成分股定期審核，以4、9 月的第7 個交易日為審核基準日，審核資料截至前一個月最後一個交易日。Open p.4 ↗ |
Constituents are reviewed twice per year. |
| Review types | Semi annual review, Ad hoc | 每年2 次進行成分股定期審核，以4、9 月的第7 個交易日為審核基準日，審核資料截至前一個月最後一個交易日。Open p.4 ↗ |
The index uses semiannual scheduled constituent reviews and may make non-scheduled adjustments for corporate events. |
| Review months | April, September | 每年2 次進行成分股定期審核，以4、9 月的第7 個交易日為審核基準日，審核資料截至前一個月最後一個交易日。Open p.4 ↗ |
The scheduled reviews use review reference dates in April and September. |
| Data cutoff rule | The review reference date is the seventh trading day of April or September, and review data is as of the last trading day of the preceding month. | 每年2 次進行成分股定期審核，以4、9 月的第7 個交易日為審核基準日，審核資料截至前一個月最後一個交易日。Open p.4 ↗ |
The review reference date is the seventh trading day of April or September, with review data cut off at the last trading day of the previous month. |
| Announcement rule | — | — (not found verbatim in the PDF) |
|
| Effective date rule | Review results take effect five trading days after the review reference date. | 成分股定期審核結果，於審核基準日之後，間隔5 個交易日後生效；於指數定期審核生效日(含)起設有3 個交易日的指數調整過渡期，將定期審核異動之權重分配在3 個交易日內調整。Open p.4 ↗ |
Scheduled review results become effective after an interval of five trading days following the review reference date. |
| Rebalance frequency | — | — (not found verbatim in the PDF) |
|
| Weight reset frequency | Review-related weight changes are allocated over a three-trading-day transition period beginning on the effective date. | 於指數定期審核生效日(含)起設有3 個交易日的指數調整過渡期，將定期審核異動之權重分配在3 個交易日內調整。Open p.4 ↗ |
Weight changes from each scheduled review are spread over the three trading days from and including the effective date. |
| M8 Corporate actions, IPOs, ad-hoc changes · 5 fields | |||
| Smartbeta maintenance scope | The Taiwan Select Growth High Dividend Index is a Smart Beta investment index and maintains non-scheduled constituent adjustments, coefficient products, issued shares, and the index divisor under the corporate-action rules. | 臺灣優選成長高股息指數為SmartBeta 投資型指數，成分股不定期調整、係數乘積、發行股數、指數除數等維護，依本公司「TIP 指數系列企業活動處理通則」辦理Open p.5 ↗ |
As a Smart Beta investment index, non-scheduled constituent changes, coefficient products, issued shares, and divisor maintenance follow the corporate-action processing rules. |
| Replacement policy | None | 成分股不定期調整、係數乘積、發行股數、指數除數等維護，依本公司「TIP 指數系列企業活動處理通則」辦理；成分股若因此刪除，則不予遞補。Open p.5 ↗ |
If a constituent is removed because of a non-scheduled corporate-event adjustment, it is not replaced. |
| Merger spinoff rules | Non-scheduled constituent adjustments, coefficient products, issued shares, and index divisor maintenance for corporate events follow the TIP Index Series Corporate Action Processing General Rules. | 成分股不定期調整、係數乘積、發行股數、指數除數等維護，依本公司「TIP 指數系列企業活動處理通則」辦理Open p.5 ↗ |
Corporate-event constituent adjustments and related coefficient, share, and divisor maintenance are handled under the TIP Index Series Corporate Action Processing General Rules. |
| Corporate actions guide ref | TIP 指數系列企業活動處理通則 | 依本公司「TIP 指數系列企業活動處理通則」辦理Open p.5 ↗ |
The referenced separate corporate-actions guide is the TIP Index Series Corporate Action Processing General Rules. |
| Ad-hoc deletion | Delisting, Risk warning, Acquisition, Other | Constituents may be deleted ad hoc on delisting or cessation that removes index-universe eligibility, persistent changed trading methods, and merger-related termination; the document also includes an other-event category. | |
| M9 Calculation and return variants · 14 fields | |||
| Base value | 5,000 index points | 註1：基期設定為2023 年3 月30 日，基準指數設定為5000 點。Open p.4 ↗ |
The base index value is set at 5,000 points. |
| Base date | 2023-03-30 | 註1：基期設定為2023 年3 月30 日，基準指數設定為5000 點。Open p.4 ↗ |
The index base date is 30 March 2023. |
| Shares used in formula | Issued shares | 𝑝𝑖,𝑡=成分股i 在t 日的價格𝑠𝑖,𝑡=成分股i 在t 日的發行股數Open p.4 ↗ |
The formula uses each constituent's issued shares on the calculation date. |
| Coefficient source | TIP 指數系列企業活動處理通則 SmartBeta 投資型指數 | 𝑐𝑝𝑖,𝑡=成分股i 在t 日的係數乘積；使用之係數依本公司「TIP 指數系列企業活動通則」SmartBeta 投資型指數所定Open p.4 ↗ (not found verbatim in the PDF) |
Coefficients used in the market-capitalisation formula follow the TIP corporate-action rules for SmartBeta indices. |
| Price index start date | 2023-05-29 | 臺灣優選成長高股息指數自2023 年5 月29 日起，於臺灣證券交易所與中華民國證券櫃檯買賣中心交易時間內Open p.3 ↗ |
Real-time calculation and publication of the price index began on 29 May 2023. |
| Total return index start date | 2025-01-20 | 臺灣優選成長高股息報酬指數自2025 年1 月20 日起，於臺灣證券交易所交易時間與中華民國證券櫃檯買賣中心內Open p.3 ↗ |
Real-time calculation and publication of the total return index began on 20 January 2025. |
| Formula type | Divisor | 指數市值× 基準指數指數=指數除數Open p.4 ↗ |
The index is calculated using market capitalisation divided by an index divisor. |
| Price source | Latest trade price | 每隔五秒以成分股最新成交價格計算及公布即時指數一次，並於每日收盤後計算一次收盤指數。Open p.3 ↗ |
Real-time index values are calculated using each constituent's latest transaction price. |
| Calculation frequency | Real time interval seconds: 5; End of day: Yes | 於臺灣證券交易所與中華民國證券櫃檯買賣中心交易時間內，每隔五秒以成分股最新成交價格計算及公布即時指數一次，並於每日收盤後計算一次收盤指數。Open p.3 ↗ |
Both the price and total return indices are calculated every five seconds during market hours and once at the daily close. |
| Return variants | PR, GTR | 臺灣優選成長高股息指數分「價格指數」 (Price Index)、「報酬指數」 (Total Return Index)，由臺灣指數公司負責編製Open p.1 ↗ |
The index is published as a price index and a total return index that reflects returns including cash dividends. |
| Dividend treatment | Total return index adjusted for cash dividends | 就臺灣優選成長高股息指數考量現金股利因素後加以調整，用以反映包含現金股利之報酬。Open p.3 ↗ |
The total return index adjusts the price index for cash dividends to reflect dividend-inclusive returns. |
| Divisor adjustment | Post close constituent changes and corporate action events under smartbeta rules | 收盤後成分股依本公司「TIP 指數系列企業活動處理通則」SmartBeta 投資型指數調整指數除數以維持指數連續性Open p.4 ↗ |
After the close, the divisor is adjusted for constituent and corporate-action changes under the TIP SmartBeta corporate-action rules to maintain index continuity. |
| Market disruption rule | If the TWSE centralised market cannot open normally or is closed, index calculation and publication stop. | 若證交所有價證券集中交易市場（以下稱：集中市場）因故無法正常開市或休市，指數將停止計算發布。From TIP General Principles for TIP Securities Indices ↗ |
Index calculation and publication are stopped when the Taiwan Stock Exchange centralised market is unable to open normally or is closed. |
| Recalculation policy | Missed intraday real-time indices are not recalculated after a real-time calculation or publication system failure., Affected daily closing indices after a major-emergency suspension are recalculated within five trading days after operations resume. | 若指數發生3.3.2 之情事，將不會回溯計算發布遺漏的盤中即時指數。From TIP General Principles for TIP Securities Indices ↗ |
Missed intraday real-time values are not back-calculated, whereas closing values affected by a major-emergency suspension are retrospectively calculated and corrected. |
| M10 Governance, change policy, disclosure · 9 fields | |||
| Calculation agent | Taiwan Stock Exchange | 由臺灣指數公司負責編製，委請臺灣證券交易所計算及即時資訊傳輸。Open p.1 ↗ |
The Taiwan Stock Exchange is entrusted to calculate the index and transmit real-time information. |
| General rules reference | 臺灣指數公司有價證券指數通則 | 指數編製、維護及管理等原則，參閱「臺灣指數公司有價證券指數通則」。Open p.1 ↗ |
Principles for compilation, maintenance and management refer to Taiwan Index Company's general rules for securities indices. |
| Market capitalisation records | Closing market capitalisation records retained for all constituents | 臺灣指數公司將保存所有成分股的收盤市值紀錄。Open p.1 ↗ |
Taiwan Index Company retains closing market-capitalisation records for all constituents. |
| Oversight body | Taiwan Index Company | 由臺灣指數公司負責編製，委請臺灣證券交易所計算及即時資訊傳輸。Open p.1 ↗ |
Taiwan Index Company compiles the index and conducts periodic constituent reviews. |
| Methodology review frequency | Periodic constituent review | 臺灣指數公司依指數編製規則進行成分股定期審核。Open p.1 ↗ |
Taiwan Index Company conducts periodic constituent reviews according to the index compilation rules, but the text does not state the methodology review cycle. |
| Change announcement | Taiwan Stock Exchange real-time information transmission | 委請臺灣證券交易所計算及即時資訊傳輸。Open p.1 ↗ |
The Taiwan Stock Exchange is entrusted with index calculation and real-time information transmission. |
| Discretion points | handling urgent situations not covered or not clearly governed by the rules, deciding whether to terminate an index, final decision on changes to individual index compilation rules, adjusting weight-cap parameters when weights total less than 100%, shortening the announcement period for methodology changes in specified circumstances | 又必須及時處理時，其處理方式的任何決定，本公司將基於指數能符合公正、公平、公開的原則下進行決策。From TIP General Principles for TIP Securities Indices ↗ |
The company may decide treatment of unforeseen urgent matters, determine whether to terminate indices, make final decisions on methodology changes, and adjust weight-cap parameters or notice periods in specified situations. |
| External review | The Index Compilation Committee is consulted on content formulation and major changes to the general rules. | 內容制定或任何重大變更將向指數編製委員會徵詢意見，作為擬訂或增修之參考。From TIP General Principles for TIP Securities Indices ↗ |
Opinions are sought from the Index Compilation Committee when formulating the rules or making any material changes. |
| Cessation policy | insufficient number of constituents, incomplete or unreliable data required for periodic review, changes in market environment, regulations or potential constituents making the objective difficult to achieve, a customised index's original purpose no longer exists or there is no practical application demand | 指數終止編製發布之啟動事由，包含但不限於下列情事；本公司經審慎評估後，決定指數是否終止編製發布。指數成分數量不足From TIP General Principles for TIP Securities Indices ↗ |
An index may be terminated after careful assessment when constituents are insufficient, review data are incomplete or unreliable, market or regulatory changes prevent achievement of its objective, or a customised index has no purpose or demand. |
Open points · 34Model-written, for reference
- 1Index code, ISIN, vendor tickers, launch date, base date, base value, calculation currency, methodology version, and methodology date are not stated.
- 2Calculation agent is not separately identified.
- 3No explicit minimum trading history or listing-age requirement is stated.
- 4No minimum free-float percentage is stated.
- 5No foreign ownership limit or foreign room screen is stated.
- 6No minimum voting rights or minimum share price screen is stated.
- 7No business, controversy, or ESG exclusion screen is stated.
- 8No abnormal price-rise screen is stated.
- 9The treatment of suspended securities at a scheduled review is not separately described beyond universe exclusion and the share-swap exception.
- 10The intended use and benchmark regulatory status are not stated.
- 11The selection and constituent count section has no body text, so the underlying selection method, ranking metric definition, tie-break rule, industry-neutrality rule, and reserve-list policy could not be verified.
- 12No explicit group, sector, or country aggregate weighting cap is stated.
- 13No explicit cap application timing is stated beyond the free-float factor update at periodic review effective dates.
- 14No shares-outstanding source or divisor continuity adjustment rule is stated.
- 15No foreign-ownership-limit treatment or domestic inclusion factor is stated.
- 16No announcement timing or publication channel for scheduled review results was stated.
- 17No rank buffer, size-segment buffer, liquidity buffer for existing constituents, or maximum turnover per review was stated.
- 18No fast-entry rule for large new listings was stated.
- 19No specific ad-hoc deletion triggers were listed beyond general corporate-event maintenance.
- 20No deletion price rule was stated.
- 21No threshold for implementing share or free-float changes between reviews was stated.
- 22No separate weight-rebalancing frequency distinct from the scheduled constituent review was stated.
- 23Published index precision or number of decimal places is not stated.
- 24Withholding tax basis for a net total return variant is not stated; only price and total return indices are identified.
- 25Detailed cash-dividend reinvestment mechanics are not stated beyond adjusting the total return index for cash dividends.
- 26Market-disruption or market-closure calculation treatment is not stated.
- 27Recalculation or published-level error-correction policy is not stated.
- 28Specific discretionary powers of the administrator are not stated.
- 29Frequency for reviewing the methodology document itself is not stated; only periodic constituent review is mentioned.
- 30External review, consultation procedure, material-change definition and notice period are not stated.
- 31Whether and how often a constituent list is published are not stated.
- 32Index cessation or discontinuation policy is not stated.
- 33The complete enumerated list of corporate events that trigger divisor adjustments is not included; the section references a separate corporate-action rulebook.
- 34Not 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 · 76 of 77 quotes found word for word in the PDF · includes general rules: General Principles for TIP Securities Indices v1.1.2, TIP Corporate Actions and Events Methodology v2.3.7
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