The S&P Russia 10 Index is comprised of 10 of the largest publicly-traded Russian stocks available to foreign investors through London International Order Book (IOB) GDR Listings.
Russia represents a challenge to providing true investable exposure due to foreign ownership restrictions coupled with a developing equity market and limited liquidity. The S&P Russia 10 Index meets this challenge, offering investors an index with enhanced investability and liquidity features of the Russian equity markets.
Index constituents exhibit the following characteristics:
Universe -
Any Russian company traded in London.
Weighting –
Liquidity driven weighting scheme. No stock has a weight greater than 15%. The sum of the weight of stocks with weights of 15% is less than or equal to 60% of the index.
Market Capitalization –
Float-adjusted market capitalization above US$ 50 million at each annual rebalancing.
Liquidity -
Three-month average daily trading value traded (ADTV) above US$ 3 million as of each rebalancing reference date.
Trading History -
Every stock must have been trading for at least three months prior to the rebalancing reference date.
Exchange Listing -
Companies must be listed on the London International Order Book (IOB). Companies listed on the London International Order Book Unregulated (IOBU) are ineligible.
Index Governance and Policy
This index is maintained by the S&P Index Committee, whose members include Standard & Poor’s economists and index analysts. It follows a set of published rules and policies that provide the transparent methodology used to maintain the index.
