FTSE Reshuffles Indices

June 12, 2002 (PLANSPONSOR.com) - Following the quarterly meeting of its Equity Indices Committee, FTSE Group will delete three companies from the UK's FTSE 100.

These companies, all technology names, are:

  • Logica
  • ARM Holdings
  • Electrocomponents.

They will be replaced by:

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  • Johnson Matthey, the chemicals, car parts and precious metals company
  • Xstrata, a Swiss mining and metals firm
  • Bunzl, the food packaging and disposable products supplier.

Mid-Caps

Among the deletions from the mid-cap FTSE 250 index are:

  • Marconi
  • Telewest Communications
  • Psion.

The weighting of IT Group companies in the FTSE All-Share has now shrunk to 1.1% from its 7% high during the tech boom in February 2000, FTSE announced.
 
All changes announced Wednesday will be applied to the indices after the close of business on June 21, 2002.  The FTSE techMARK indices will be reviewed on June 18, 2002.
 
Full details of all additions and deletions to the FTSE UK Index Series approved by the Committee can be found on the FTSE Web site .

Small and Mid Caps Rule through May

June 11, 2002 (PLANSPONSOR.com) - The bulls have been running in small and mid-cap value funds so far this year, but the bears were frolicking in the rest of the domestic equity fund market, Standard & Poor's reported.

The star performers among domestic-equity categories were small-cap value, which is up 6.62% year-to-date while mid-cap value was up 3.68% during the period.

According to S&P, in 2002, small and mid-cap stocks and the funds that hold them have outperformed the S&P 500 as they did in 2000 and 2001.

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In addition, these companies have avoided the accounting and management scandals, the regulatory scrutiny, and the strong-dollar issues that have hurt larger-company funds, S&P said.

On a year-to-date basis, S&P said that seven of the nine remaining broad equity categories were in negative territory with large-cap growth being the chief laggard at -10.63%.

The average domestic equity fund is down 5.16% through the end of May, while the S&P 500 is off 6.66%.

The category performance data on a year-to-date basis through May were:

  • Large-Cap Growth Average, -10.63%
  • Large-Cap Value Average, -2.36%
  • Large-Cap Blend Average, -6.62%
  • Mid-Cap Growth Average, -7.54%
  • Mid-Cap Value Average, +3.68%
  • Mid-Cap Blend Average, -3.33%
  • Small-Cap Growth Average, -8.96%
  • Small-Cap Value Average, +6.62%
  • Small-Cap Blend Average, -0.83%
  • Domestic Equity Funds, -5.16%
  • S&P 500, -6.66%

Total returns are in US dollars and include reinvested dividends.

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