Al Mal Capital PSC, the UAE investment company, today announced the quarterly rebalance Al Mal UAE FALCON Index (Following All Liquid COmpany Names) for the first quarter of 2007.
In line with the Index rules, Al Mal Capital will rebalance the index on the close of the business on the third Thursday in March, June, September and December taking into account the trading data of the prior 100 trading days.
The Al Mal UAE FALCON Index is a unique benchmark designed to provide a real time, liquid and tradable representation of the performance of the UAE equity markets and due to its characteristics as a tradable basket, will be used as a practical benchmark for investors in the UAE, as well as international investors from the GCC, Europe, Asia and North America.
Al Mal Capital is a leading Dubai-based Investment Company, licensed and regulated by the UAE Central Bank, with paid-up capital of Dh. 333 million. The Company provides its prestigious list of clients with Investment Banking, Brokerage and Asset Management services.
Index Characteristics
The Al Mal UAE FALCON Index accounts for the special characteristics of the UAE equity markets: a significant portion of market liquidity and trade linked to a series of companies with large market capitalization, contrasted with closely-held positions in some companies of size, rendering them difficult to trade.
The index contains 20 members from both the ADSM and DFM that as of the last rebalance account for over 95% of 100 day average traded value on both exchanges and for over 60% of combined market capitalisation as of 21 Dec 2006. The UAE Falcon Index ended 2006 at 1,556.89 and started with a base value of 2,000 on September 7th 2006
The index rebalance saw the replacement of Oasis Leasing and First Gulf Bank by Tamweel and Union Properties. The current index constituents are:-
Company Company
Abaar Petroleum Dubai Investments
AD Commercial Bank Dubai Islamic Bank
AD Islamic Bank EMAAR Properties
AD National Energy Etisalat
Aldar Properties Islamic Arabic Insurance
Amlak Finance RAK Properties
Arabtec Holdings Sorouh Real Estate
Aramex Tabreed
Dana Gas Tamweel
DU Union Properties
The weightings are based on (1) Average traded value; (2) market capitalisation; and (3) length of time that a company has been listed. Individual company weightings are capped at 25% and sectors are capped at 35%..
