NZX 50 Portfolio Index

Market Capitalisation as at 19 Nov : $20,485,530,405

Background

SmartFONZ tracks the NZX 50 Portfolio Index, which comprises shares in the top fifty companies on the NZSX Market. The composition of the index is weighted according to free float market capitalisation. This is the market capitalisation of a company based on the percentage of shares freely available for trading on the open market. The index excludes companies that do not meet market liquidity requirements. In addition, the index limits the weighting of any one security to 5% of the index, although weightings can fluctuate between 2.5% to 7% between quarterly reviews.

Each SmartFONZ unit represents shares as they are represented in the index. For example, a unit in SmartFONZ represents a parcel of the shares of the fifty companies in the index, in the same proportions as the index.

NZX 50 Portfolio Index composition

The index contains the fifty largest companies listed on the NZSX Market weighted by free float market capitalisation.

The table below shows the composition of companies in the index which constitute the portfolio of shares reflected in SmartFONZ.

Constituents as at 19 Nov, 2008 :

Source: NZX

Sector Breakdown

NZX Portfolio Index - Sector Breakdown

The industries represented in FONZ as at 30 September 2004 are shown in the graph below:

Source: NZX
Note: This sector breakdown incorporates overseas companies included in the NZSX 50 Portfolio Index

The industry sector breakdown in FONZ shows a more even spread across the industry groups represented. The capping of the larger companies to a weighting of around 5% of the index means that FONZ is not overly exposed to a downturn in a single large company or sector.