Infrastructure IPO Index Construction Summary
The Renaissance Infrastructure IPO Index is designed to capture the performance
of newly public companies whose products and services are critical to the development
and maintenance of infrastructure assets. New infrastructure enterprises appear first
on the IPO market; this enables the Renaissance Infrastructure IPO Index, a subset of the benchmark
Renaissance IPO Index®, to capture the performance of these infrastructure plays at the earliest
stage available to public investors.
The following "infrastructure sectors" are included in the index:
- Transportation
- Energy Distribution
- Urban Infrastructure
- Utilities
- Telecommunications
- Social Infrastructure
- Information Delivery
- Water Infrastructure
- Real Estate
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| Weighting | Float-adjusted market capitalization |
| Number of Constituents | Variable based upon Infrastructure IPO activity |
| Constituent Additions | New Infrastructure IPOs are added upon the close of the first day of trading. |
| Constituent Deletions | Members are removed on the second anniversary of their IPO date, resulting in an approximate holding period of 500 days. |
| Minimum Float Capitalization | $50 million float-adjusted market capitalization |
| Rebalance Frequency | Index constituents are reviewed for eligibility based upon size and liquidity on a quarterly basis. The number of shares and float weights are also updated quarterly. |
| Significant Events | Shares are adjusted weekly for corporate actions that impact a constituent's float shares by more than 10%. |