S&P/ASX 300. Stocks require a minimum Relative Liquidity of 30% for inclusion in the S&P/ASX 300. Should a stock’s Relative Liquidity drop to below half of this level at a semi-annual review it may be considered for removal. The S&P/ASX 300 is rebalanced every six months, with changes taking effect on the third Friday of March and September
Liquidity. Only stocks that are regularly traded are eligible for inclusion in any S&P/ASX index. A stock’s liquidity is measured relative to its peers. Relative Liquidity is calculated as follows: Relative Liquidity = Stock Median Liquidity divided by Market Liquidity where:
Stock Median Liquidity is the median daily value traded for each stock divided by the average float/index weight-adjusted market capitalization for the previous six months and;
Market Liquidity is determined using the market capitalization weighted average of the stock median liquidities of the 500 constituents in the All Ordinaries index.
Relative Liquidity thresholds are as follows:?S&P/ASX 200. Stocks require a minimum Relative Liquidity of 50% for inclusion in the S&P/ASX 200 and higher hierarchical indices. Should a stock’s Relative Liquidity drop below half of this level at a quarterly review it may be considered for removal.
?S&P/ASX 300. Stocks require a minimum Relative Liquidity of 30% for inclusion in the S&P/ASX 300. Should a stock’s Relative Liquidity drop to below half of this level at a semi-annual review it may be considered for removal &P/ASX Rebalance Announcements All S&P/ASX indices are regularly rebalanced to ensure they remain liquid and tradable.
Column 1
Column 2
0
Index
Rebalance Months
1
S&P/ASX 20
March, June, September and December.
2
S&P/ASX 50
March, June, September and December.
3
S&P/ASX 100
March, June, September and December.
4
S&P/ASX 200
March, June, September and December.
5
S&P/ASX 300
March and September.
6
All Ordinaries
March
When do rebalances occur? • After the market closes on the third Friday of March, June, September and December. How much notice is given? • The market is notified one to two weeks prior to all upcoming constituent changes. March, June & December - one week notice is given September - two weeks notice is given Note: Starting March 2016, only one week notice will be given for Quarterly Rebalances in March, June and December. September will keep the two week notice period
GMM Price at posting:
59.0¢ Sentiment: Hold Disclosure: Held
