The rules don't come in to effect until 17 June - however the market must have been preempting scaling back of the existing weightings.
Changing from 80%-98% to 60%-98% does not affect qualification of smaller caps - it only means larger market caps will now qualify e.g. the top 8 world gold stocks by MC make up approx. 60% of the total combined MC and would now be excluded whereas previously the top 20 making up 80% were excluded. The net affect is about 12 additional stocks qualify. The cut-off is effectively raised from US$1.5b to US$7.5b. NST and EVN would now qualify which makes sense considering the size of the fund.
The 98% rule hasn't changed - e.g. the top 90 stocks still make up 98% of the market by MC.
Small caps still have to get over the "Index Universe" hurdles in terms of liquidity. DCN and GOR would be marginal.
TA - NST, page-48
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