What is the ASX 300 Metals and Mining Index?

Submitted by Share Trading on 9 March, 2010 - 17:27

The S&P/ASX 300 Metals & Mining Index (XMM)

The S&P/ASX 300 Metals & Mining Index is based on the S&P/ASX 300. The index has a stock code/ticker code of XMM. The index is comprised of companies that are classified by the Global Industry Classification Standard (GICS) as being in the Metals & Mining industry, which includes producers of aluminum, gold, steel, precious metals and minerals, and diversified metals and minerals.

The index enhances the profile of the Metals and Mining and Gold sectors within both the Australian and international markets by providing important benchmarks for these key segments of the Australian equity market. In doing so, these indices contribute to the long-term success of these sectors to the direct benefit of the mining sector’s investors and the companies that make up these segments.

Being based on the S&P/ASX 300 Index, the stocks included in the S&P/ASX 300 Metals and Mining Index meet the same liquidity criteria that are applied to all companies included in the broader index universe. In addition, the weighting that any one company has in the index is based upon the free-float2 adjusted market capitalisation of the company. The index is rebalanced in line with the rebalancing of the broader S&P/ASX 300 Index. The constituency of this index is based upon industry level classification within the GICS hierarchy, therefore the index composition is also subject to any potential GICS classification changes.

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