Published 30 August 2011
The NZX will launch an infrastructure sector index on Monday 19 September – the Morrison index, named to honour sector leader Lloyd Morrison.
NZX head of direct products Rachael Newsome said yesterday the Morrison index would be an equal weight index, with 10 constituents. They will be rebalanced to 10% of the index at quarterly reviews, with weights free to fluctuate with stock performance between rebalancing.
The initial 10 constituents that will make up the Morrison index are: Auckland International Airport Ltd, Contact Energy Ltd, Freightways Ltd, Infratil Ltd, Mainfreight Ltd, Port of Tauranga Ltd, Ryman Healthcare Ltd, Telecom Ltd, TrustPower Ltd & Vector Ltd.
The index will have an initial value of 1000 & initial market capitalisation value of $100 million.
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Attribution: NZX release, story written by Bob Dey for the Bob Dey Property Report.