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No changes to the Straits Times Index constituents

THERE are no changes to the Straits Times Index (STI) constituents, following the March 2020 quarterly review.

The announcement was made in a joint statement by Singapore Press Holdings (SPH), Singapore Exchange and FTSE Russell, the index administrator, on Thursday. The trio jointly calculate the main stock market benchmark in Singapore.

SPH is the publisher of The Business Times.

The STI is used as the basis for a range of financial products including exchange traded funds, warrants, futures and other derivatives.

The next review will take place in June 2020. The indexes are reviewed quarterly in accordance with the index ground rules and to facilitate the inclusion of eligible initial public offering stocks.

The STI reserve list, which has the five highest ranking non-constituents of the STI by market capitalisation, will be Mapletree Industrial Trust, Suntec Real Estate Investment Trust (Reit), Keppel Reit, Keppel DC Reit and Netlink NBN Trust in order of size.

Stocks on the reserve list will replace any constituents that become ineligible as a result of corporate actions, before the next review.

The FTSE ST methodology ensures that the indexes accurately represent the investable universe for benchmarking purposes and can be easily replicated as the basis of index-linked products, the statement noted.