Changes are due to fast exit rule …
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STOXX Limited, announced component changes in the STOXX Global Select Dividend 100 Index due to the fast exit rule. Component changes will become effective with the open of markets on June 24th, 2013.
STOXX Global Select Dividend 100 Index
In the Asia/Pacific portion of the STOXX Global Select Dividend 100 Index, the following changes will take place:
Addition: MONADELPHOUS GROUP (Australia, Construction & Materials, MND.AX)
Deletion: KEPPEL LAND LTD. (Singapore, Real Estate, KLAN.SI)
In the North America portion of the STOXX Global Select Dividend 100 Index, the following changes will take place:
Addition: CONOCOPHILLIPS (United States, Oil & Gas, COP.N)
Deletion: HUDSON CITY BANCORP INC. (United States, Banks, HCBK.OQ)
Component changes in the STOXX Global Select Dividend 100 Index are based on the fast exit rule, which states that if a company lowers its dividend, it will remain in the index until the next selection list is available. If the company falls below the lower buffer, it is removed and replaced by the highest-ranked non-component on the selection list. The changes are then implemented together with the review implementation date.
Source: ETFWorld.co.uk – STOXX
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