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Main characteristics

Bloomberg Code SGIXGCC
Inception Date 08/10/2012
Return Type Net Return
Currency USD
CALCULATED_BY S&P Dow Jones

Objective

The SGI GCC Invest Index is a liquid and investable equity index aiming to track the performance of 60 of the largest capitalizations of the Gulf Cooperation Council (GCC). The index is capitalization-weighted, built under a set of constraints addressing liquidity issues and foreign ownership limits (“FOL”), while remaining faithful to the market size of member countries. The universe of the SGI GCC Invest Index comprises the following countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates and may change to reflect the evolution of market conditions.

Mechanism

The SGI GCC Invest is a free-float weighted index. The Index methodology solely accounts for outstanding shares available to foreign investors, i.e. public shares subject to foreign ownership limits. 60 stocks are chosen by a systematic stock selection model regarding their capitalization and their liquidity. Basket weights are initially scaled according to free float, then adjusted to comply with a set of diversification (no stock shall exceed 15%, and no country 50%) and liquidity constraints (scaling factors are applied according to a systematic algorithm aiming to optimize each stock’s liquidity to ensure the best execution conditions without altering the characteristics of the basket). The stock selection and weight computation are reviewed every three months in order to ensure the continuous liquidity of the components.


The SGI GCC Invest Index (The “Index”) is the property of SG, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) (“S&P Dow Jones Indices”) to maintain and calculate the Index. S&P® is a registered trademarks of Standard & Poor’s Financial Services LLC (“SPFS”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”) and these trademarks have been licensed to S&P Dow Jones Indices. “Calculated by S&P Dow Jones Indices Custom” and its related stylized mark(s) are service marks of S&P Dow Jones Indices and have been sublicensed for certain purposes by SG. Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their affiliates shall be liable for any errors or omissions in calculating the Index.
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