21/03/2012
Lyxor uses a new Dow Jones index for its ETF of the Russian market
The index provider Dow Jones Indexes on 20 March announced the launch the same day of the Dow Jones Russia GDR Index, an index which currently covers 77% of the larger Russian TSM index, and which proposes to measure the performance of the major Russian global depository receipts (GDR) listed on the London Stock Exchange. At the same time, Dow Jones Indexes announced that Lyxor has acquired an operating license for the new index, which will be used as the basis for the Lyxor ETF Russia (Dow Jones Russia GDR Index). The euro-denominated version fo the ETF is listed on NYSE Euronext, Deutsche Börse, Borsa Italiana and Bolsa de Madrid. The US dollar-denominated versions are listed on the Swiss SIX exchange and in Singapore. The Lyxor ETF Russia (Dow Jones Russia GDR) is the largest vehicle of its type listed exclusively in Europe concentrated on Russian securities, with assets under managenent as of 14 March representing about EUR1.1bn. The ETF had previously used the Dow Jones RusIndex Titans 10 index as its underlying. The weightings of companies in the index may not exceed 20% at the time of quarterly revisions (March, June, September and December). As of 29 February, the ten largest components of the index were as follows: Firm Adjusted weight Gazprom OAO AD 19.67% Lukoil Holdings ADS 14.33% Surgutneftegaz JSC ADS 14.21% Sberbank Rossia ADS 11.03% Norilsk Nickel Mining & Metallurgical Co. ADS 7.41% Novatek GDR 7.02% Rosneft GDR 4.74% Uralkali GDR 4.25% Tatneft GDR 3.49% Magnit GDR 2.66%
