Base Date: December 31, 2007
No. of Components: 40
Minimum Market Cap: USD $100 million
Minimum Daily Avg. Liquidity: USD $500 thousand
Sector Limit: 20% (20 companies)
Geographic Exposure: Chile, Colombia, Mexico, Peru
Rebalance Frequency: Semi-annual
Underlying Universe: Companies domiciled in Chile, Colombia, Mexico and Peru, listed in their home country and in U.S. exchanges
All index components are selected based on their overall MarketGrader Grade. Built on a scale between 0 and 100, our Overall Grade is based on our 24 fundamental indicators, which are broken down into four analytical categories: Growth, Value, Profitability and Cash Flow. All of our indicators and our overall grades are calculated daily for all companies under coverage.
All index constituents are equally weighted every time the index is rebalanced. No weight modifications or adjustments are made to the portfolio between rebalance periods.
All index constituents must have a minimum total market cap of USD $100 million and a minimum 3-month daily traded value of USD $500,000. At least 20% of all index components (20 companies) must have a market cap of at least USD $3 billion.
No more than 20% of the index (20 companies) may belong to the same economic sector. REITs are altogether ineligible for selection. At least four stocks from each of the four member countries must be selected to the index at each rebalance while no more than 20 companies (or 50% of the index) may be domiciled in one single country.
The index is rebalanced twice a year, on the third Friday of March and September.
The MarketGrader MILA 40 Index seeks to follow the most fundamentally sound companies with the best growth prospects in Latin America’s nascent integrated market, known as MILA after its Spanish acronym (Mercado Integrado Latino Americano). These four countries are not only integrating their financial and capital markets to facilitate cross-border trade among them but are also negotiating the Trans-Pacific Partnership as a single block, potentially opening their economies to a vast market. Since its constituents are equally weighted the index gives each company an equal opportunity to contribute to the performance of the portfolio regardless of market size, sector or business model. It was designed to offer investors a way to capture the growth in one of the emerging markets’ most promising regions.
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