Standard and Poor's Indices and Arab Federation of Exchanges create Standard and Poor's AFE 40 Index
- Middle East: Tuesday, December 06 - 2011 at 09:08
- PRESS RELEASE
S&P Indices has launched the S&P AFE 40, an index designed to measure the performance of 40 leading companies from the Pan-Arab region. S&P Indices partnered with the Arab Federation of Exchanges (AFE) to create the Index which includes companies from Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Tunisia and the United Arab Emirates.
Dr. Fadi Khalaf, Secretary General at the Arab Federation of Exchanges said: "The S&P AFE 40 is expected to be an important blue chip index in the Pan-Arab region, offering a true representation of the performance of leading, publicly traded companies trading on Arabian exchanges. We are excited to partner with one of the leading index providers in the world, S&P Indices, to offer this exciting,new benchmark to investors."
The S&P AFE 40 is comprised of the 40 largest stocks (measured by float-adjusted market capitalisation) listed on AFE member exchanges subject to the following restrictions: each stock must have at least $50m in value traded over 12 months, there can be no more than 10 stocks per country, based on domicile, and at least one stock from each country must be included. In terms of weighting, the S&P AFE 40 uses a capped market capitalisation weighted index scheme, where the maximum weight of any constituent cannot exceed 10% and the maximum weight for each country, based on domicile cannot exceed 35%.
Below is a table showing the top 5 countries by weight and the largest weighted constituent within each. All data is as of October 31, 2011.
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / 4C. AME Info FZ LLC / 4C is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.