STOXX Launches Blue-Chip Index for the Balkans
STOXX has launched the Dow Jones STOXX Balkan 50 Equal Weighted Index, a blue-chip index measuring the performance of the 50 largest and most liquid stocks traded in the Balkan region. The Balkan countries are growing economies that have developed competitive returns in recent years, which makes the index an appealing tool for financial institutions. The Dow Jones STOXX Balkan 50 Equal Weighted Index is designed to underlie investment products, such as mutual funds, exchange-traded funds and structured products. Countries currently included in the index are Bulgaria, Croatia, Greece, Macedonia (FYROM), Romania, Serbia, Slovenia and Turkey. To ensure a significant and balanced representation of all eligible countries, the index comprises the 10 largest companies of Greece and Turkey and the five largest companies of the other countries. The weight of each component is 2% and the number of components is fixed at 50. Components are selected based on free-float market capitalisation and liquidity. The composition of the index is reviewed annually in September. Price and total return indexes are calculated in euro and US dollar. Daily historical index values of the Dow Jones STOXX Balkan 50 Equal Weighted Index are available back to 31 December 31 2006. The year to date performance through 31 October 2007 of the Dow Jones STOXX Balkan 50 Equal Weighted Index is 38,7%.