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In order to clarify FTSE's existing policy of treating Business Development Companies (BDC) as ineligible for the FTSE Global Equity Index Series, FTSE announces the following update to the FTSE Global Equity Index Series Ground Rules....
4.3 Eligible Securities
Most equities are eligible for the Index. For a full list of eligible securities, please see Appendix B.
The following are regarded as ineligible:
Companies whose business is that of holding equity and other investments (e.g. Investment Trusts) which are assumed by the Industry Classification Benchmark as Subsector equity investment instruments (8985) and Non-equity investment instruments which are assumed by the Industry Classification Benchmark as Subsector non-equity investment instruments (8995) will not be eligible for inclusion.
Limited Liability Partnerships (LLP), Limited Partnerships (LP), and Limited Liability Companies (LLC) and Business Development Companies (BDC) will not be eligible for inclusion.
Where a unit comprises equity and non-equity it will not be eligible for inclusion.
Convertible preference shares and loan stocks are excluded – until converted.
Where a company does not list all its shares in an eligible class, or does not list an entire class, the unlisted shares are not eligible for the Index, but they may be included in the Review Universe for the purpose of ranking companies by their full market capitalisation.
An updated version of the FTSE Global Equities Index Series Ground Rules is now available on the FTSE website.
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