The new Market Vectors TM Egypt Index
03.12.2009 10:00
A new barometer for the dynamic Egyptian stock market
Today 4asset-management launched the Market Vectors TM Egypt Index (MVEGPT). It is designed to give investors exposure to one of the most established and fast growing markets in the middle east.
MVEGPT is reviewed every quarter and tracks the performance of some of the largest and most liquid companies that generate a significant portion of their revenues in Egypt. It includes both local listings and offshore listings:
- Local listings are companies that are incorporated in Egypt and have their primary listing in Egypt.
- Offshore listings are companies that generate at least 50% of their revenues in Egypt.
To ensure the index portfolio diversity, individual companies are capped quarterly at maximum weights in the index – Egyptian companies are capped at 8% and Offshore companies are capped at 4.5%.
The Index was launched on December 3, 2009 with a base index value of 1000 as of December 29, 2005. As of December 3, the index consisted of 28 companies (27 Egyptian companies and one Offshore company) and provides a broad representation of Egypt's equity market. The largest three companies in the index were Orascom Construction (8.00%), Commercial International Bank (8.00%) and Orascom Telecom. The top three sectors were Financials: 42.3%, Telecom (17.0%) and Industrials (15.0%).
The index performance reflects the high potential of Egypt. Year-to-date the MVEGPT (price index) performed + 30% and the MVEGPTTR (Total Return index) performed +35,8% (as of November 30). As of December 3, the index had a total market capitalisation of 46 billion USD and an average market capitalisation of 1.6 billion USD.
Market Vectors TM Egypt Index is calculated and maintained by Structured Solutions (S-Box) on behalf of 4asset-management GmbH.
More details can be obtained on the MVEGPT website profile of 4asset-management.
| Ticker symbols | MVEGPT Price index ticker | MVEGPT TRN index ticker |
| Reuters RIC | .MVEGPT | .MVEGPTTR |
| Bloomberg Ticker | MVEGPT | MVEGPTTR |
| ISIN | DE000A1CQ9C9 | DE000A1CQ9D7 |
| WKN | A1CQ9C | A1CQ9D |
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