Press Room
Al Mal Capital announced the quarterly rebalance of Al Mal UAE FALCON Index
Posted on 29 Dec 2008
Al Mal Capital PSC announces the quarterly rebalance of the Al Mal UAE FALCON Index United Arab Emirates, December 28 today announced the quarterly rebalance Al Mal UAE FALCON Index (Following All Liquid COmpany Names) for the fourth quarter of 2008. In line with the Index rules, Al Mal Capital will rebalance the Index on the close of the business on the last Thursday in March, June, September and December taking into account the trading data of the prior 100 trading days. The Al Mal UAE FALCON Index is a unique benchmark designed to provide a real-time, liquid and tradable representation of the performance of the UAE equity markets and due to its characteristics as a tradable basket, will be used as a practical benchmark for investors in the UAE, as well as international investors from the GCC, Europe, Asia and North America. Al Mal Capital is a leading Dubai-based Investment Company, licensed and regulated by the UAE Central Bank, with paid-up capital of Dh. 333 million. The Company provides its prestigious list of clients with Investment Banking, Brokerage and Asset Management services. Index Characteristics The Al Mal UAE FALCON Index accounts for the special characteristics of the UAE equity markets: a significant portion of market liquidity and trade linked to a series of companies with large market capitalization, contrasted with closely-held positions in some companies of size, rendering them difficult to trade. The FALCON addresses this anomaly by identifying the stocks that are both largest and most liquid, as it’s rational for inclusion. The index contains 20 members from both the ADSM and DFM that as of the current rebalance account for over 84% of 100 day average traded value on both exchanges and for over 30% of combined market capitalization as of December 28 The following companies that were previously in the index no longer have a weighting: AABAR INVESTMENTS, AGTHIA GROUP, AMLAK FINANCE, RAS AL KHAIMAH CEMENT CO, & TAMWEEL They will be replaced with the following: ABU DHABI COMMERCIAL BANK, GULF NAVIGATION, ISLAMIC ARAB INSURANCE, RAK PROEPRTIES & TABREED. Company Index Weigh Index Weigh ABU DHABI COMMERCIAL BANK 5.17% DUBAI ISLAMIC BANK 6.25% AIR ARABIA 6.63% EMAAR PROPERTIES 14.29% AJMAN BANK 2.71% FIRST GULF BANK 8.38% ALDAR PROPERTIES 7.73% GULF NAVIGATION 2.67% ARKAN BLD MT CO 6.55% ISLAMIC ARAB INSURANCE 1.78% ARABTEC HOLDING 4.42% METHAQ 2.62% DANA GAS 3.53% RAK PROPERTIES 0.80% DEYAAR 1.65% SOROUH REAL ESTATE 4.16% DFM 10.55% TABREED 1.39% DUBAI INVESTMENTS CO 6.77% UNION PROPERTIES 1.95%
length of time that a company has been listed. Individual company weightings are capped at
25% and sectors are capped at 35%.
The weightings are based on (1) Average traded value; (2) market capitalization; and (3)