STOXX Limited announced the results of the annual review of the STOXX Select Dividend Index series and the STOXX Global Grand Prix Index; as well as the result of the semi-annual review of the STOXX TMI Growth and STOXX TMI Value indices, its respective large, mid- and small sub-indices and the respective …
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indices for the euro zone. Furthermore, the results of an extraordinary review of the STOXX Sustainability Indices are being announced as Bank Sarasin & Co. Ltd. took over the research and analysis for the indices earlier this year. All changes will be effective on March 21, 2011.
STOXX Sustainability Indices
The STOXX Sustainability Indices have been reviewed extraordinarily as Bank Sarasin took over the research and analysis of the index components earlier this year. While the methodology of the indices remains unchanged, components are now selected from the STOXX Europe 600 Index according to Bank Sarasin’s rating. In order to be included in the STOXX Sustainability Indices, a company must reach a “positive overall sustainability rating” according to Bank Sarasin’s Sustainability Matrix. The rating is composed of “industry rating” and “company rating.”
To become eligible for the index, companies operating in industries with relatively low “industry ratings” (high sustainability-related risks such as environmental impacts) are required to achieve a much higher “company rating” (which measures the company’s actions to manage and reduce these risks) than companies operating in industries with higher “industry ratings.” Bank Sarasin’s ratings cover almost all companies in the STOXX Europe 600 Index, which offers users of the STOXX Sustainability Indices a broader index base. Furthermore, the combination of “company” and “industry rating” in the Sustainability Matrix ensures high standards in terms of index component selection.
Effective with the open of European markets on March 21, 2011, the number of components in the STOXX Europe Sustainability Index will increase to 342 from 157 components, and the number of components in the EURO STOXX Sustainability Index will increase to 168 from 87 components.
The following stocks will be added to and deleted from the STOXX Europe Sustainability 40 Index:
| Additions | Deletions |
| GLAXOSMITHKLINE (U.K., Healthcare, GSK.L) | BARCLAYS (U.K., Banks, BARC.L) |
| SANOFI-AVENTIS (France, Healthcare, SASY.PA) | STANDARD CHARTERED (U.K., Banks, STAN.L) |
| BNP PARIBAS (France, Banks, BNPP.PA) | MUENCHENER RUECK (Germany, Insurance, MUVGn.DE) |
| UBS (Switzerland, Banks, UBSN.VX) | BASF (Germany, Basic Materials, BASFn.DE) |
| SCHNEIDER ELECTRIC (France, Industrial Goods & Services, SCHN.PA) | RWE (Germany, Utilities, RWE.DE)
|
| FRANCE TELECOM (France, Telecommunications, FTE.PA) | TOTAL (France, Oil & Gas, TOTF.PA)
|
| ZURICH FINANCIAL SERVICES (Switzerland, Insurance, ZURN.VX) | ENI (Italy, Oil & Gas, ENI.MI)
|
| NOKIA (Finland, Technology, NOK1V.HE) | ANGLO AMERICAN (U.K., Basic Resources, AAL.L) |
| ERICSSON LM B (Sweden, Technology, ERICb.ST) | ASTRAZENECA (U.K., Healthcare, AZN.L) |
| VIVENDI (France, Media, VIV.PA) | DIAGEO (U.K., Food &Beverage, DGE.L) |
| AIR LIQUIDE (France, Chemicals, AIRP.PA) | BRITISH AMERICAN TOBACCO (U.K., Personal & Household Goods, BATS.L) |
| RECKITT BENCKISER GRP (U.K., Personal & Household Goods, RB.L) | E.ON (Germany, Utilities, EONGn:DE)
|
| HENNES & MAURITZ B (Sweden, Retail, HMb.ST) | XSTRATA (U.K., Basic Resources, XTA.L) |
| VINCI (France, Construction & Materials, SGEF.PA) | RIO TINTO (U.K., Basic Resources, RIO.L) |
| CARREFOUR SUPERMARCHE (France, Retail, CARR.PA) | BHP BILLITON (U.K., Basic Resources, BLT.L)
|
The following stocks will be entering and exiting the EURO STOXX Sustainability 40 Index:
| Additions | Deletions |
| SANOFI-AVENTIS (France, Healthcare, SASY.PA) | ESSILOR INTERNATIONAL (France, Healthcare, ESSL.PA) |
| BNP PARIBAS (France, Banks, BNPP.PA) | MICHELIN (France, Automobiles & Parts, MICP.PA) |
| SCHNEIDER ELECTRIC (France, Industrial Goods & Services, SCHN.PA) | LAFARGE (France, Construction & Materials, LAFP.PA) |
| FRANCE TELECOM (France, Telecommunications, FTE.PA) | TNT (Netherlands, Industrial Goods & Services, TNT.AS) |
| INTESA SANPAOLO (Italy, Banks, ISP.MI) | BASF (Germany, Basic Materials, BASFn.DE) |
| VIVENDI (France, Media, VIV.PA) | REPSOL YPF (Spain, Oil & Gas, REP.MC) |
| AIR LIQUIDE (France, Chemicals, AIRP.PA) | RWE (Germany, Utilities, RWE.DE) |
| VINCI (France, Construction & Materials, SGEF.PA) | TOTAL (France, Oil & Gas, TOTF.PA) |
| CARREFOUR SUPERMARCHE (France, Retail, CARR.PA) | ENI (Italy, Oil & Gas, ENI.MI)
|
| ASSICURAZIONI GENERALI (Italy, Insurance, GASI.MI) | VOLKSWAGEN PREF (Germany, Automobiles & Parts, VOWG_p.DE) |
| SAIT GOBAIN (France, Construction & Materials, SGOB.PA) | AKZO NOBEL (Netherlands, Chemicals, AKZO.AS)
|
| KPN (Netherlands, Telecommunications, KPN.AS) | CRH (Ireland, Construction & Materials, CRH.I) |
| LINDE (Germany, Chemicals, LING.DE) | E.ON (Germany, Utilities, EONGn:DE) |
| PERNOD RICARD (France, Food & Beverage, PERP.PA) | BMW (Germany, Automobiles & Parts, BMWG.DE)
|
| ASML HLDG (Netherlands, Technology, ASML.AS) | DEUTSCHE BANK (Germany, Banks, DBKGn.DE) |
| AHOLD (Netherlands, Consumer Services, AHNL.AS) | ARCELORMITTAL (Luxembourg, Basic Resources, ISPA.AS |
The STOXX Sustainability Index family also includes two specialized indices that exclude companies that generate revenues from alcohol, gambling, tobacco, armaments, firearms (AGTAF) and adult entertainment (AGTAFA). Both are available for Europe and the euro zone.
Effective with the open of European markets on March 21, 2011, the number of components in the STOXX Europe Sustainability ex AGTAF and STOXX Europe Sustainability ex AGTAFA indices will increase to 322 from 137 components, and 322 from 135 components, respectively. In the EURO STOXX Sustainability ex AGTAF Index, the number of components will increase to 157 from 74; as well as in the EURO STOXX Sustainability ex AGTAFA where the component number will increase to 157 from 73.
STOXX Select Dividend Index series
Effective as of the open of European markets on March 21, 2011, 13 components will be replaced in the STOXX Global Select Dividend 100 Index. The index comprises the 100 highest dividend-paying companies in the three regions of the STOXX Global 1800 Index.
In the European portion of the STOXX Global Select Dividend 100 Index, the three largest components that are being added and deleted, measured by dividend yield, are:
| Additions | Deletions | ||
| SCOTTISH & SOUTHERN ENERGY (Great Britain, Utilities, SSE.L) | BASF (Germany, Chemicals, BASFn.DE) | ||
|
BOSKALIS WESTMINSTER (The Netherlands, Construction & Materials, BOSN.AS) | ||
| UNIBAIL-RODAMCO (France, Real Estate, UNBP.PA | BCO SABADELL (Spain, Banks, SABE.M |
In the Asia/Pacific portion of the STOXX Global Select Dividend 100 Index, the three largest additions and deletions, measured by dividend yield, are:
| Additions | Deletions |
| PCCW (Hong Kong, Telecommunications, 0008.HK) | CNOOC LTD. (Hong Kong, Oil & Gas, 0883.HK) |
| ASTELLAS PHARMA INC. (Japan, Health Care, 4503.T) | SHOWA SHELL SEKIYU K.K. (Japan, Oil & Gas, 5002.T) |
| TONENGENERAL SEKIYU K.K. (Japan, Oil & Gas, 5012.T) | KERRY PROPERTIES LTD. (Hong Kong, Real Estate, 0683.HK |
The three largest components measured by dividend yield that are being added to and deleted from the Americas portion of the STOXX Global Select Dividend 100 Index are:
| Additions | Deletions |
| PPL CORP (U.S., Utilities, PPL.N) | M&T BANK CORP. (U.S., Banks, MTB.N) |
| EXELON CORP. (U.S., Utilities, EXC.N) | NATIONAL BANK OF CANADA (Canada, Banks, NA.TO) |
| HUDSON CITY BANCORP INC. (U.S., Banks, HCBK.OQ) | ENBRIDGE INC. (Canada, Oil & Gas, ENB.TO |
The STOXX Europe Select Dividend 30 Index measures the 30 highest dividend-paying stocks in 18 European countries. The three largest companies by dividend yield that are being added to and deleted from the index are:
| Additions | Deletions |
| UNIBAIL-RODAMCO (France, Real Estate, UNBP.PA | VALLOUREC (France, Industrial Goods & Services, VLLP.PA) |
| EDP ENERGIAS DE PORTUGAL (Portugal, Utilities, EDP.LS) | ERSTE GROUP BANK (Austria, Banks, ERST.VI) |
The STOXX Nordic Select Dividend 20 Index tracks the 20 highest dividend-yielding companies in the Nordic region. The three largest components that are being added to and deleted from the index, measured by dividend yield, are:
| Additions | Deletions |
| BILLERUD (Sweden, Basic Resources, BILL.ST) | NORDEA BANK (Sweden, Banks, NDA.ST) |
| LEROY SEAFOOD GROUP (Norway, Food & Beverage, LSG.OL) | INDUSTRIVARDEN A (Sweden, Financial Services, INDUa.ST) |
| SKISTAR B (Sweden, Travel & Leisure, SKISb.ST) | UPONOR (Finland, Construction & Materials, UNR1V.HE) |
The STOXX EU Enlarged Select Dividend 15 Index measures the 15 highest dividend-paying stocks in the countries that became new member states of the enlarged European Union on May 1, 2004. The following companies will be added to and deleted from the index:
| Additions | Deletions |
| PKO BANK (Poland, Banks, PKOB.WA) | HARJU ELEKTER (Estonia, Technology, HAE1T.TL) |
As of March 4, 2011, the dividend yield of the reconstituted STOXX Global Select Dividend 100 Index increased to 4.29% from 4.63%. The dividend yield of the STOXX Europe Select Dividend 30 Index increased to 5.40% from 4.08% and the dividend yield of the EURO STOXX Select Dividend 30 Index increased to 4.36% from 4.08%. The dividend yield of the STOXX Nordic Select Dividend 20 Index rose to 3.42% from 3.38% and the dividend yield of the STOXX EU Enlarged Select Dividend 15 Index increased to 8.99% from 7.37%.
Changes in the STOXX Select Dividend Index series are being announced today after the conclusion of a regular annual component review.
STOXX Global Grand Prix Index
The STOXX Global Grand Prix Index measures the performance of publicly traded companies globally that are supporters or supplies of Formula One teams, including engine manufacturers, tire suppliers, oil/fuel suppliers and title sponsors. Changes in the index are being announced today after the conclusion of a regular annual component review.
The following companies will be added to and deleted from the STOXX Global Grand Prix Index:
| Additions | Deletions |
| PIRELLI & C. (Italy, Automobiles & Parts, PECI.MI) | BRIDGESTONE CORP. (Japan, Automobiles & Parts,
5108.T)
|
| WILLIAMS GRAND PRIX (U.K., Travel & Leisure, WGF1G.DE) |
|
| PETRONAS (Malaysia, Oil & Gas, PGAS.KL) |
|
As of February 28, 2011, the total free-float market capitalization of the reconstituted STOXX Global Grand Prix Index decreased to € 839 billion from € 843 billion.
Changes in the STOXX Global Grand Prix Index are being announced today after the conclusion of a regular annual component review.
STOXX Europe Style Indices
The STOXX Europe Style Indices include three categories: growth, value and neutral. Effective with the opening of European markets on March 21, 2011, the number of components in the STOXX Europe TMI Growth Index will increase to 388 from previously 365 components, and the number of components in the STOXX Europe TMI Value Index will decrease to 313 from 350 components.
The three largest components measured by free-float market capitalization that will be added to and deleted from the STOXX Europe TMI Growth Index are:
| Additions | Deletions |
| ROCHE HLDG. P (Switzerland, Health Care, ROG.VX) | SIEMENS (Germany, Industrial Goods & Services, SIEGn.DE) |
| BHP BILLITON (U.K., Basic Resources, BLT.L) | UBS (Switzerland, Banks, UBSN.VX) |
| BG GRP (U.K., Oil & Gas, BG.L) | BARCLAYS (U.K., Banks, BARC.L |
The three largest companies measured by free-float market capitalization that will be added to and deleted from the STOXX Europe TMI Value Index are :
| Additions | Deletions |
| BASF (Germany, Chemicals, BASFn.DE) | VODAFONE GRP (U.K., Telecommunications, VOD.L) |
| SYNGENTA (Switzerland, Chemicals, SYNN.VX) | NOVARTIS (Switzerland, Health Care, NOVN.VX) |
| VOLKSWAGEN PREF (Germany, Automobiles & Parts, VOWG_p.DE) | BCO SANTANDER (Spain, Banks, SAN.MC) |
Reasons for component changes in STOXX Europe TMI Growth and Value indices can be the change of style characteristics of an index component from growth to value, or vice versa, as well as the addition of a component stock as the result of its initial public offering (IPO).
Due to a deletion from the STOXX Europe Total Market Index, the following company will also be deleted from the STOXX Strong Style Indices: SNS REAAL (Netherlands, Financial Services, DR.AS). In the STOXX Europe Strong Value 20 Index, it will be replaced by BAM GRP (Netherlands, Construction & Materials, BAMN.AS). In the EURO STOXX Strong Value 20 Index, RENAULT (France, Automobiles & Parts, RENA.PA) will be added as a replacement.
Changes in the STOXX Europe TMI Growth and STOXX Europe TMI Value indices, its respective large, mid- and small sub-indices as well as the respective indices for the euro zone, are being announced today after the conclusion of a regular semi-annual component review.
The adjusted component weightings, including the number of shares and free-float factors for all reviewed indices will be announced on March 11, 2011 after the close of markets. All changes will be effective as of the open of markets on March 21, 2011.
Source: ETFWorld – STOXX
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