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Key features of the certificate include:
• Exposure to the largest and most liquid stocks listed in Abu Dhabi, Bahrain, Dubai, Kuwait, Oman and Qatar
• Dynamic research-based index with composition reviewed twice a year
• Low minimum investment of EUR 100
• Daily liquidity
• Open-ended
The index is composed of 20 stocks and composition will be reviewed on a semi-annual basis in May and November each year. On each review date, a committee of Merrill Lynch research analysts determines an eligible universe of stocks for the index according to criteria including market cap, trading volume and foreign ownership.
A total of 20 stocks from the selection universe are selected and weighted by their market cap with a maximum allocation of 15%. If the selection universe were to consist of less than 20 stocks, all stocks are selected as index constituents.
Pierre Mendelsohn, head of Securitised Products, Merrill Lynch EMEA, said,
"The Gulf region's recent growth has been spurred by its abundant wealth in oil and natural gas and, in the case of Dubai , the transformation into a major trading hub. The region holds 56% of the world's oil reserves and 24% of the world's gas reserves. Thanks to the ML Gulf Investible Index Certificate, investors can invest in the Gulf region in a transparent, cost-effective way via a publicly registered and exchange-listed product. This product is another great addition to our Merrillinvest platform."
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Posted by Anne-Birte Stensgaard, Senior News Editor
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