Also known as: 特選臺灣高息動能指數 · IX0205 Index (Bloomberg) · IX0205 (TIP code)
Tracked by: 00939 (ETF)
At a glance
- Weighting schemeFactor tilted
- Review frequencyAnnual
- Single cap8%
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 11 fields | |||
| Target constituent count | 40 | 依配息率擇優選取 40 檔股票。Open p.1 ↗ |
The index selects 40 constituent stocks. |
| Index name | Taiwan Index Inc. Select Taiwan Listed and Emerging Stock Market High Dividend Momentum Index | 臺灣指數公司特選臺灣上市上櫃高息動能指數(簡稱「特選臺灣高息動能指數」) 係以臺灣上市上櫃股票為母體Open p.1 ↗ |
The document identifies the index as the Taiwan Index Company Select Taiwan Listed/OTC High Dividend Momentum Index. |
| Index short name | 特選臺灣高息動能指數 | 臺灣指數公司特選臺灣上市上櫃高息動能指數(簡稱「特選臺灣高息動能指數」)Open p.1 ↗ |
The vendor's short name is Select Taiwan High Dividend Momentum Index. |
| Local index name | 臺灣指數公司特選臺灣上市上櫃高息動能指數 | 臺灣指數公司特選臺灣上市上櫃高息動能指數(簡稱「特選臺灣高息動能指數」)Open p.1 ↗ |
The official local-language index name is 臺灣指數公司特選臺灣上市上櫃高息動能指數. |
| Administrator | 臺灣指數公司 | 臺灣指數公司特選臺灣上市上櫃高息動能指數(簡稱「特選臺灣高息動能指數」)Open p.1 ↗ |
The index is provided by 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高息動能指數(簡稱「特選臺灣高息動能指數」)Open p.1 ↗ |
The index belongs to Taiwan Index Company's Select series. |
| Objective | 成分股以配息率加權後、結合發行市值及風險調整後報酬配置成分股權重，表彰兼具高股息、成長動能與獲利能力之股票投資組合績效表現。 | 成分股以配息率加權後、結合發行市值及風險調整後報酬配置成分股權重，表彰兼具高股息、成長動能與獲利能力之股票投資組合績效表現。Open p.1 ↗ |
The index measures the performance of a portfolio combining high dividends, growth momentum, and profitability, with weights based on dividend payout and adjusted by issued market value and risk-adjusted return. |
| Market classification | Domestic | 係以臺灣上市上櫃股票為母體，自發行市值及自由流通市值前 250 大股票中Open p.1 ↗ |
The index covers Taiwan listed and OTC stocks as a domestic Taiwan market strategy. |
| Size segment | Custom | 採樣範圍：指數母體中自由流通市值與發行市值皆屬前250 大之股票。Open p.1 ↗ |
The selection universe is customarily restricted to stocks ranking in the top 250 by both issued market value and free-float market value. |
| Index family type | Dividend yield | 表彰兼具高股息、成長動能與獲利能力之股票投資組合績效表現。Open p.1 ↗ |
The index is a high-dividend and dividend-momentum strategy index. |
| Factor exposures | Yield, Momentum, Quality | 表彰兼具高股息、成長動能與獲利能力之股票投資組合績效表現。Open p.1 ↗ |
The portfolio targets high dividend, growth momentum, and profitability characteristics. |
| M2 Universe · 7 fields | |||
| Eligible universe | Common stocks listed on the Taiwan Stock Exchange or OTC market, excluding managed, emerging-board, altered-trading-method, and suspended stocks, with a replacement-share exception. | 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；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Open p.1 ↗ |
The sampling universe is Taiwan listed and OTC common stocks subject to the stated exclusions and exception. |
| Sampling rank scope | Metrics: Free float market value, Issued market value; Rank threshold: 250 | 採樣範圍：指數母體中自由流通市值與發行市值皆屬前250 大之股票。Open p.1 ↗ |
The sampling range includes stocks ranked in the top 250 by both free-float market value and issued market value. |
| Replacement share exception | Stocks whose trading is suspended because new shares are exchanged 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 ↗ |
A stock replaced by new shares following capital reduction, corporate conversion, establishment, or denomination change may remain in the universe despite the trading halt. |
| 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 universe consists of Taiwan 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 ↗ |
Securities must be listed on the Taiwan Stock Exchange or traded on the Taipei Exchange over-the-counter market. |
| 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 includes common stocks only. |
| Exclusions | managed stocks, emerging-market board stocks, stocks publicly announced as having altered trading methods, stocks whose trading is suspended | 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-board stocks, and stocks publicly designated for altered trading methods or trading suspension are excluded, subject to a capital-reduction or conversion exception. |
| M3 Eligibility screens · 8 fields | |||
| Selection process | After liquidity and indicator screens, 40 constituents are selected by dividend-yield ranking in two groups, each subject to buffer adjustment. | 採樣母體經流動性檢驗、指標篩選之股票進入排序，依下列順序選取40 檔成分股Open p.1 ↗ |
Stocks passing liquidity and indicator screens are ranked and 40 constituents are selected in two dividend-yield groups after buffer adjustment. |
| Declared dividend group | Candidate type: Stocks with cash dividend decisions or proposed distributions declared but not yet trading ex-dividend; Ranking metric: Dividend yield; Selection count: 30; Buffer adjustment: Yes | 已宣告發放現金股利決議或擬議分派金額、但尚未除息者，依配息率3由大到小排序，並經緩衝區調整後選取30 檔成分股。Open p.1 ↗ |
Thirty constituents are selected after buffer adjustment from declared-but-not-yet-ex-dividend stocks, ranked by dividend yield from high to low. |
| Remaining annual dividend group | Candidate type: Other annual-dividend stocks entering the ranking; Declared ranking metric: Dividend yield; Undeclared ranking metric: Estimated dividend yield; Selection count: 10; Buffer adjustment: Yes | 自進入排序之其餘年配息股票中，依下列數值由大到小排序，並經緩衝區調整後選取10 檔成分股： i. 已宣告發放現金股利決議或擬議分派金額者：依據配息率； ii. 未宣告發放現金股利決議或擬議分派金額者：依據預估配息率4。Open p.1 ↗ |
Ten additional constituents are selected after buffer adjustment from remaining annual-dividend stocks, using declared dividend yield or estimated dividend yield for stocks without a declared amount. |
| Liquidity screen | Metric: Liquidity ratio; Window: 12 calendar months for trading-value rank; 3 calendar months for average volume and turnover alternatives; Threshold: Existing constituents pass unconditionally; non-constituents pass if 12-month total trading value ranks in the top 20%, or in the top 80% plus either three-month average monthly volume of at least 10,000 trading units or three-month average monthly turnover of at least 6%; Buffer for existing: Existing constituents pass unconditionally | 既有成分股無條件通過流動性檢驗。Open p.1 ↗ |
A stock passes liquidity testing if it is an existing constituent, ranks in the top 20% by 12-month total trading value, or ranks in the top 80% and meets a three-month volume or turnover alternative. |
| Minimum size | Metric: Rank; Threshold: Top 250 by both free-float market value and issued market value | 採樣範圍：指數母體中自由流通市值與發行市值皆屬前250 大之股票。Open p.1 ↗ |
Candidates must rank in the top 250 by both free-float market value and issued market value. |
| Financial screens | Sum of EPS over the most recent two quarters must be greater than zero, Average cash dividend payout ratio over the most recent three years must be between 0% and 120%, Stocks whose latest-quarter operating margin level and quarter-over-quarter growth rate are both in the bottom 30% are excluded, Annual-dividend stocks already trading ex-dividend before the periodic review effective date and stocks announcing no cash dividend are excluded | 最近2 季每股盈餘總和大於0。 b. 最近3 年平均現金股利發放率介於0%與120%之間。 c. 排除最近一季營業利益率之數值及季增率同屬最低30%之股票2。 d. 排除定期審核生效日前已除息之年配息股票或宣告不發放現金股利之股票。Open p.1 ↗ |
The indicator screens require positive two-quarter EPS, a three-year average cash payout ratio of 0% to 120%, exclusion for weak operating margin level and growth, and exclusion for already-ex-dividend or no-cash-dividend stocks. |
| Business or ESG exclusions | — | — (not found verbatim in the PDF) |
No business-activity or ESG exclusion screen is stated in the provided sections. |
| Suspension rule | Stocks announced as suspended are outside the universe, except stocks suspended because replacement shares are issued due to capital reduction, conversion to a holding company, newly established company, or par-value change. | 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 ↗ |
Suspended stocks are generally excluded from the universe, with a specific exception for replacement shares issued after certain corporate changes. |
| M5 Weighting and capping · 10 fields | |||
| Annual constituent review weighting | Dividend yield then issuer market cap adjustment | — (not found verbatim in the PDF) |
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| Periodic weight review adjustment | Risk adjusted return | — (not found verbatim in the PDF) |
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| Minimum weight (%) | 0.5% | — (not found verbatim in the PDF) |
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| Minimum weight exception for downward adjustment | If a constituent's review-data-date weight is below 0.5% and the risk-adjusted-return adjustment would reduce it, the floor is the review-data-date weight. | — (not found verbatim in the PDF) |
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| Weight metric formula | free_float_market_cap_share plus average_turnover_share_over_recent_3_months | — (not found verbatim in the PDF) |
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| Weighting scheme | Factor tilted | — (not found verbatim in the PDF) |
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| Free float factor | Method: Free float | — (not found verbatim in the PDF) |
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| Weight cap | 8% | — (not found verbatim in the PDF) |
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| Cap application timing | At review | — (not found verbatim in the PDF) |
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| 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 | 40 constituents | 每次定期審核後選取固定的成分股檔數40 檔。Open p.5 ↗ |
Each periodic review selects a fixed count of 40 constituents. |
| Divisor maintenance input | Closing data on the trading day before the periodic review effective date is used to calculate the market-capitalization change for divisor maintenance. | 指數除數維護方式，採定期審核生效日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.5 ↗ |
Divisor maintenance uses closing data on the trading day immediately before the periodic review effective date to measure the market-capitalization difference between the new and old constituent portfolios. |
| Insufficient history data rule | For a holding company or newly established company lacking sufficient screening history, data from a representative converted company or stock may be combined if that 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 ↗ |
Holding or newly established companies with insufficient data for the periodic review may combine data from a representative converted company or stock if that representative meets the sampling-universe qualification. |
| Review frequency | Annual | 每年1 次進行成分股定期審核，以5 月的第17 個交易日為審核基準日，審核資料截至5 月的第10 個交易日7。Open p.5 ↗ |
Constituents are reviewed once per year. |
| Review types | Annual review, Ad hoc | 每年1 次進行成分股定期審核，以5 月的第17 個交易日為審核基準日，審核資料截至5 月的第10 個交易日7。Open p.5 ↗ |
The index has an annual constituent review and ad hoc adjustments. |
| Review months | May | 每年1 次進行成分股定期審核，以5 月的第17 個交易日為審核基準日，審核資料截至5 月的第10 個交易日7。Open p.5 ↗ |
The annual constituent review uses a review reference date in May. |
| Data cutoff rule | Constituent review: Reference date: 17th trading day of May; Data cutoff: 10th trading day of May; Weight reviews: Reference date: 7th trading day of January; Data cutoff: last trading day of December, Reference date: 17th trading day of September; Data cutoff: 10th trading day of September | 每年1 次進行成分股定期審核，以5 月的第17 個交易日為審核基準日，審核資料截至5 月的第10 個交易日7。Open p.5 ↗ |
The annual constituent review uses the 17th trading day of May as reference date with data through the 10th trading day of May; weight reviews use the stated January and September reference dates and data cutoffs. |
| Announcement rule | — | — (not found verbatim in the PDF) |
The document does not specify when or how periodic review results are announced. |
| Effective date rule | Periodic review changes take effect five trading days after the review reference date. | 定期審核結果，於審核基準日之後，間隔5 個交易日後生效。Open p.5 ↗ |
Periodic review results become effective five trading days after the review reference date. |
| Rebalance frequency | Semi-annual | 每年2 次進行權重定期審核，以1 月的第7 個交易日、9 月的第17個交易日為審核基準日，審核資料截至12 月最後一個交易日、9 月的第10 個交易日。Open p.5 ↗ |
Constituent weights are reviewed twice per year. |
| Weight reset frequency | Semi-annual | 成分股權重審核以既有成分股重新進行權重計算，使其符合「參、三、2」項之規定。Open p.5 ↗ |
Existing constituents have weights recalculated twice a year to meet the weighting rules. |
| M7 Buffers and turnover control · 2 fields | |||
| Candidate rank bands | Candidate band: ranks 16 to 45; Priority: existing constituents first, then selection by rank, Candidate band: ranks 6 to 15; Priority: existing constituents first, then selection by rank | 處理後，將排名第16 至45 / 6 至15 名視為候選成分股，以既有成分股優先，按排名挑選成分股。Open p.5 ↗ |
After forced entries and exits, ranks 16–45 and 6–15 are treated as candidate constituent positions, with existing constituents prioritized and then selection by rank. |
| Buffer zone | Entry rank: 15; Exit rank: 45, Entry rank: 5; Exit rank: 15 | 排名在第15 / 5 名以內之股票即納入成為指數成分股，既有成分股若排名在第45 / 15 名之後則從指數成分股中刪除；處理後，將排名第16 至45 / 6 至15 名視為候選成分股，以既有成分股優先，按排名挑選成分股。Open p.5 ↗ |
For the 30- and 10-stock selections, stocks ranked within 15th or 5th enter, existing constituents ranked after 45th or 15th exit, and ranks 16–45 or 6–15 are candidate positions with existing constituents prioritized. |
| M8 Corporate actions, IPOs, ad-hoc changes · 5 fields | |||
| Adhoc maintenance items | Ad hoc constituent adjustments, Coefficient products, Issued shares, Index divisor | 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 ↗ |
Ad hoc constituent adjustments, coefficient products, issued shares, and index divisor maintenance follow the TIP corporate-actions rules. |
| Ad-hoc deletion | Other | 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 ↗ |
Constituents may be removed on an ad hoc basis under the TIP index-series corporate-actions general rules, but the specific triggers are not listed in this excerpt. |
| Replacement policy | None | 成分股若因此刪除，則不予遞補。Open p.5 ↗ |
If a constituent is removed because of a corporate-action-related ad hoc adjustment, it is not replaced. |
| Merger spinoff rules | Ad hoc constituent adjustments, coefficient products, issued shares, and index divisor maintenance follow the TIP Index Series Corporate Actions 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 ↗ |
Ad hoc constituent adjustments and maintenance for corporate actions are handled under the TIP Index Series Corporate Actions 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 Actions General Rules. |
| M9 Calculation and return variants · 11 fields | |||
| Base date | 2023-10-27 | 註1：基期設定為2023 年10 月27 日，基準指數設定為5000 點。Open p.4 ↗ |
The base date is set as October 27, 2023. |
| Base index level | 5,000 points | 註1：基期設定為2023 年10 月27 日，基準指數設定為5000 點。Open p.4 ↗ |
The base index level is set at 5,000 points. |
| Calculation agent | 臺灣證券交易所 | 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 Commission compiles the index and entrusts the Taiwan Stock Exchange with calculation and real-time information transmission. |
| Formula type | Divisor | 指數市值× 基準指數指數=指數除數Open p.3 ↗ |
The index is calculated as indexed market capitalization divided by an index divisor, multiplied by the base index level. |
| Price source | Latest trade price | 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Open p.3 ↗ |
Intraday index calculations use each constituent's latest transaction price during exchange trading hours. |
| Calculation frequency | Frequency: Every 5 seconds; Scope: Real time; Start date: 2023-11-27, Frequency: Once daily; Scope: Close, Frequency: Once daily after close; Scope: Total return index | 自2023 年11 月27 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，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 ↗ |
Since November 27, 2023, the real-time index has been calculated and published every five seconds during trading hours, with a closing index once after the close; the total return index is calculated and published once after the close. |
| Return variants | PR, GTR | 特選臺灣高息動能指數分「價格指數」 (Price Index)、「報酬指數」 (Total Return Index)Open p.1 ↗ |
The index is published in a price index version and a total return index version. |
| Dividend treatment | Cash dividends adjusted into total return index | 臺灣指數公司另編製特選臺灣高息動能報酬指數，就特選臺灣高息動能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 returns including cash dividends. |
| Divisor adjustment | Post close constituent changes, Changes in index market capitalization, Corporate actions per 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，調整方式如下：指數除數= 前1 日指數除數前1 日收盤之指數市值± 異動指數市值) × (前1 日收盤之指數市值Open p.4 ↗ |
After the close, the divisor is adjusted for constituent changes, changes in index market capitalization, and corporate actions under the 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 | |||
| Periodic review | Periodic review | 臺灣指數公司依指數編製規則進行定期審核。Open p.1 ↗ |
Taiwan Index Commission conducts periodic reviews according to the index compilation rules. |
| Market capitalization records | Closing market capitalization records for all constituents retained | 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 Commission keeps closing market capitalization records for all constituent stocks. |
| General index principles 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 index compilation, maintenance, and management refer to the Taiwan Index Commission general rules for securities indices. |
| Oversight body | 臺灣指數公司 | 臺灣指數公司依指數編製規則進行定期審核。Open p.1 ↗ |
Taiwan Index Commission is responsible for compiling the index and conducting periodic reviews under the index compilation rules. |
| Change announcement | 臺灣證券交易所即時資訊傳輸 | 委請臺灣證券交易所計算及即時資訊傳輸。Open p.1 ↗ |
Real-time index information is transmitted through the Taiwan Stock Exchange. |
| 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. |
| Methodology review frequency | The general rules are reviewed from time to time; the committee normally meets twice per year. | 本指數通則由本公司不定期審視，以期能持續實現指數之編製目標From TIP General Principles for TIP Securities Indices ↗ |
The general rules are reviewed irregularly, while the Index Compilation Committee is normally convened twice per year. |
| 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, third-party vendor tickers, launch date, base date, base value, calculation currency, methodology version, and methodology date were not stated.
- 2Calculation agent, intended use, benchmark regulatory status, and stated index limitations were not provided.
- 3No explicit minimum listing or trading-history requirement was stated.
- 4No explicit minimum free-float percentage, foreign-room threshold, voting-rights threshold, minimum share price, or abnormal-price screen was stated.
- 5No business-sector or ESG exclusion was stated beyond trading-status, financial, dividend, and profitability screens.
- 6Listing boards or market segments beyond listed and OTC common stocks were not specified; the text excludes emerging-board stocks but does not name a board taxonomy.
- 7The exact definition of 配息率 weighting and how it translates into initial weights is not fully shown.
- 8The document does not state a domestic inclusion factor or foreign ownership limit treatment.
- 9No separate group, sector, or country cap is stated beyond the individual 8% cap and the five-times composite metric.
- 10The source and update timing for shares outstanding are not stated.
- 11No divisor adjustment or continuity rule is provided.
- 12The free-float factor bands or numerical factors are not provided.
- 13No announcement publication timing or channel for periodic review results was stated.
- 14No fast-entry rule for large newly listed companies was stated.
- 15No detailed ad hoc deletion triggers beyond reference to the corporate-actions guide were stated.
- 16No deletion price was stated.
- 17No share or free-float change implementation threshold was stated.
- 18No maximum constituent turnover per review was stated.
- 19No size-segment buffer or separate liquidity buffer for existing constituents was stated.
- 20Number of decimal places used for the published index level is not stated.
- 21Withholding tax basis for a net total return variant is not stated; only a total return index and price index are identified.
- 22Specific cash-dividend reinvestment mechanics beyond adjusting the total return index for cash dividends are not stated.
- 23Market disruption or market-closure calculation rule is not stated.
- 24Policy for recalculating or correcting published index levels is not stated.
- 25Name or membership of a separate oversight committee, if any, is not stated; the sections identify Taiwan Index Company responsibilities.
- 26Discretionary powers and the situations in which they may be used are not stated.
- 27Frequency of methodology-rule reviews is not stated.
- 28External review or consultation procedure for methodology changes is not stated.
- 29Definition of material methodology changes is not stated.
- 30Notice period for changes is not stated.
- 31Error correction and restatement policy is not stated.
- 32Whether and how often a constituent list is published is not stated.
- 33Index cessation or discontinuation policy is not stated.
- 34Not coveredM4 Selection and constituent count: not covered by this edition
Read by a language model (doubao-seed-2.1-pro) on 2026-10-03 · prompt 1.2 · schema 1 · 63 of 63 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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