Base Date: December 31, 2007
No. of Components: 200
Minimum Market Cap: RMB 700 million
Minimum Daily Avg. Liquidity: RMB 14 million
Sector Limit: 20% (40 companies)
Geographic Exposure: Mainland China
Rebalance Frequency: Semi-annual
Underlying Universe: All A shares listed in the Shanghai and Shenzhen Stock Exchanges that are covered and rated by MarketGrader and are not "ST" stocks.
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 RMB 700 million, a minimum 3-month daily traded value of RMB 14 million and at least RMB 350 million in aggregate trading volume in the trailing 12 months preceding the index selection date. At least 20% of all index components (40 companies) must have a market cap of at least RMB 14 billion on the index selection date.
Stocks in the index are classified based on the CSI Classification System.
No more than 20% of the index (40 companies) may belong to the same economic sector.
The index is reconstituted and rebalanced twice a year on the next trading day after the close of trading on the second Friday in June and December. The new index selections for the period are made on the Tuesday prior to the rebalance date.
The CSI MarketGrader China 200 Index seeks to follow the most fundamentally sound companies with the best growth prospects in Mainland China. It seeks to give local and global investors access to a market that has been gradually opening to foreign investments, and that houses some of the most promising companies in China. As the Shanghai and Shenzhen stock markets continue to develop into world-class investor destinations, the CSI MarketGrader Index series seek to expose investors to the best opportunities within them. Since their 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, business model or affiliation with the state.
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Introduction to the Index