Listed investment companies index
ASX in conjunction with listed investment companies (LICs) established a composite LIC Index which comprised of LICs listed on ASX that invest directly in Australian and international equities. Two sub-indicies were also created to allow for better tracking againast either domestic or internationally focussed LICs.
The index commenced on 2 January 2009 with retrospective data calculated back to 30 December 2005. The index as calculated by S&P was discontinued on Friday 30 November 2012.
All three indicies were calculated on an end of day value basis by Standard & Poors (S&P) on both a price and total return basis. The index methodology for all three indices broadly followed the All Ords i.e
- No screening for liquidity
- Quoted shares on issue will only be updated once a year at annual rebalance (March)
- Additional qualifying LICs added at that time each year
Post discontinuation of the index in November 2012, a new LIC index as calculated by FTSE commenced in December 2012. Further information on this index is available.