Austrian Traded Index

Pursuing the intention to offer a benchmark for investment funds, in November 1995 the Austrian Futures and Options Exchange ÍTOB introduced the ATX 50P: The index is sampled in such a way as to represent the portfolio of investible Austrian stocks.

The index sample comprises all 22 ATX stocks plus another 28 stocks from a consecutive ranking by attractiveness. Altogether the index constituents represent 84% of the total capitalization of the official market segment and 97% of total stock market turnover.

Like the other members of the ATX index family, the index has been constructed as capitalization-weighted value ratios with daily chaining. A free float factor reduces the index relevant market capitalization of individual stocks by 50% if the free float of the particular stocks is less than 25% of total outstanding capital.

Dividends are assumed to be reinvested in the entire sample of index stocks such that the weight of each stock remains the same as in the ATX 50.

Austrian Traded Index, ATX 50P: Vienna Stock Exchange. Text: Institute for Advanced Studies, Vienna, 1998. All rights reserved.

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