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Taiwan exchange launches smart beta indices

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Taiwan Stock Exchange subsidiary, Taiwan Index Plus Corporation, has launched two new smart beta indices – the ‘TIP TAIEX+ Dividend Appreciation 100 Index’ (DVA 100 Index) and the ‘TIP TAIEX+ Dividend Appreciation 150 Index’ (DVA 150 Index). 

The DVA 100 Index seeks to track returns on the top 100 TAIEX-constituent companies with a history of increasing dividends over the past ten years, as well as other operational metrics. The DVA 150 Index seeks to track a larger group of 150 TAIEX-constituents using the same methodology. The DVA 100 Index will be reviewed twice a year in May and November, while the DVA 150 Index will be reviewed annually in May. The base value for both indices is 5,000 as of 8 July 2016.
 
The debut of the smart beta indices follows the earlier launch of the ‘FTSE/TWSE Taiwan Dividend+ Index’ and ‘TWSE RA Employment Creation 99 Index’ on the Taiwan capital market. The exchange writes that the new indices aim to cater to the high demand for stable returns from long investors, including pension funds in Taiwan and around the world.
 
TIP was established by TWSE as a wholly-owned subsidiary in 2016 to provide comprehensive index and information services to investors, as well as to better meet the growing appetite for more innovative financial products.
 
The index provider is dedicated to compiling new innovative indices in order to grow, enrich and broaden the benchmarks offerings available in Taiwan, helping investors implement more diversified indexing strategies. Future indices that may be developed include leveraged and inverse indices, equal-weighted indices, dividend point indices, thematic indices, smart beta indices, and other customised indices.

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