The constituents of the Straits Times Index (STI) will be unchanged following the conclusion of its quarterly review.
The STI reserve list, comprising the five highest ranking non-constituents of the STI by market capitalisation, will be (in order of size) Ascendas Real Estate Investment Trust, Keppel Land UOL Group, CapitaCommercial Trust and Yangzijiang Shipbuilding Holdings.
Companies in the reserve list will replace any constituents that become ineligible as a result of corporate actions, before the next review.
The STI is widely followed by investors as the benchmark for the Singapore market and is used as the basis of a range of financial products including exchange traded funds (ETFs), futures, warrants and other derivatives.
Several changes were made to other indices in the FTSE ST Index Series including the FTSE ST Maritime and FTSE ST Catalist. In the FTSE ST China Top Index, Global Logistic Properties and Keppel Land will replace United Envirotech and Hyflux respectively.
All changes from this review will take effect from the start of trading on 23 September 2013. The next review is scheduled for 12 December 2013.
The indices are reviewed half-yearly by the independent FTSE ST Index Advisory Committee, in accordance with the index ground rules and reviewed quarterly to fast-track the inclusion of eligible IPO stocks. The FTSE ST methodology ensures the indices accurately represent the investable universe for benchmarking purposes and can be easily replicated as the basis of index-linked products.