BlueStar Indexes Blog

BlueStar Indexes® Announces Semi-Annual Rebalance Results for December 2017 and Changes to Index Methodologies.

Flagship Israeli equity indexes gain constituents, Hong Kong-listed stock added, bringing coverage to Israeli companies listed on seven exchanges.


NEW YORK ― December 8, 2017 ― BlueStar Indexes® announces its December semi-annual rebalance of the BlueStar Israel Global Index (BIGI®), TASE-BlueStar Israel Global Technology Index™ (TA-BIGITech®), BlueStar Israel Global Total Investable Market Index, BlueStar Israel Global Strategic Dividend Index, and BlueStar Fintech Index will be implemented after the close of business in New York on Friday, December 15. The Solactive – BlueStar Israel Economic Exposure Indexes December semi-annual rebalance will be implemented after the close of business in New York on Friday, December 29. BlueStar maintains the broadest and most complete family of Israeli stocks listed worldwide.



 Flagship Benchmark Changes

The coverage universe of the BlueStar Israel Global Index® will see a substantial increase in December as new listings, increased trading volume, and the market capitalization of Israeli companies have risen during the second half of 2017. BIGI® will include a total of 134 companies. 16 companies will be entering the BIGI index next week: 11 companies listed on the Tel Aviv Stock Exchange, four listed on exchanges in the US, and, for the first time, one company listed in Hong Kong, Sisram Medical. One company, Aevi Genomics, will be deleted from BIGI after major divestments from Israel-based assets in 2017. There is now a total of seven exchanges playing host to Israeli companies highlighting the imperative for investors to use/adopt a global benchmark. The total market capitalization of the investable Israel global equity universe as measured by BIGI®, is now $222 billion.


The TASE-BlueStar Israel Global Technology Index™ will also see a significant increase in the number of included companies. A net of eight companies will be added to the TA-BIGITech Index next week, bringing the total number of stocks in the index to 77.  Of the nine companies being added to the index, three are listed on the TASE, five on US exchanges, and one in Hong Kong. The total market capitalization of the Israel global high-tech sector is now $89 billion.


In addition, BlueStar Indexes is announcing an important change to the rules governing the BIGI® and TA-BIGITech® indexes.  At each semi-annual rebalance, the maximum allowable weight of any company in BIGI® is being reduced from 12.5% to 10% and from 10% to 7.5% in the TA-BIGITech® Index.

Other BlueStar Index Changes

At the end of next week, three other BlueStar indexes will also be rebalanced. The BlueStar Israel Global Total Investable Market index (BIGI®-TIM), which, utilizes the same methodology as BIGI® but includes smaller and less liquid securities will now include 164 companies, up from 154, with a total market capitalization of approximately $235 billion.


BlueStar Indexes® launched two “Strategic Beta” variants of its BIGI index during Q3 2017: the BlueStar Israel Global Strategic Value Index, or BIGI®-SV (rebalanced annually in June), and the BlueStar Israel Global Strategic Dividend Index, or BIGI®-SD, (rebalanced semi-annually in June and December). BIGI®-SD only includes companies with a history of distributing cash to shareholders in the form of a cash dividend, and components are weighted according to a strategy that considers dividend yield and market capitalization. Ten companies will be added to BIGI®-SD in the December 2017 rebalance bringing the total number of constituents up to 83.


In November 2017, BlueStar launched its first global equity index, the BlueStar Fintech Index, or BFNQ. BFNQ provides investors exposure to a concentrated portfolio of leading global companies involved in technological innovation impacting a range of industries related to the financial sector. At each semi-annual rebalance, components of BFNQ are equally weighted. One company is being added to BFNQ in December bringing the total number of constituents up to 49.

About BlueStar Indexes
BlueStar Indexes® is a research-focused financial firm specializing in the Israeli capital markets. BlueStar’s mission is to develop indexes and investment strategies that provide global institutional and retail investors efficient access to the full range of Israeli asset classes. BlueStar's flagship products are the BlueStar Israel Global Index® (BIGI®), a benchmark designed for broad, deep and complete coverage of Israeli companies, providing balanced sector exposure to Israel’s dynamic economy and the TASE-BlueStar Israel Global Technology Index (TA-BIGITech®). The NYSE-listed ISRA Israel ETF, two TASE-listed ETNs sponsored by Psagot, and an I.B.I. Index Tracking Fund track BIGI®. The TASE-BlueStar Israel Global Technology Index™ is tracked by the Nasdaq-listed ITEQ® ETF, and two Israeli-registered TA-BIGITech® index-tracking products managed by KSM/Excellence.

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