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S&P/ASX All Technology Index 

The S&P/ASX All Technology Index (XTX) provides direct access to ASX’s fastest -growing sector in a single index

Unrivalled access to ASX’s fastest-growing sector

The S&P/ASX All Technology Index (XTX) provides direct access to ASX’s fastest growing sector in a single index and has added $33b in value in three months.

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Featuring 58 of Australia’s leading and emerging technology companies across a range of sectors, the All Tech Index sets a new standard for the benchmarking of technology companies.  

It’s another example of how the 20-year ASX and S&P Dow Jones Indices partnership continues to deliver industry benchmarks and innovation.

The key benefits of the All Tech Index 

Coverage of the tech growth theme

By reaching beyond the GICS Information Technology Sector, the index includes other innovative technology related industries such as health care technology and companies operating online marketplaces.

Early access

The index includes companies that have not yet graduated to the S&P/ASX 300, providing earlier access to these smaller businesses that may have greater room for growth.

Precision

The index targets a unique, underrepresented segment of the Australian equity market. It exhibits distinct investment characteristics compared to major Australian equity sectors such as financials, real estate and natural resources.

Liquidity

Although broad in nature, the index incorporates investability features designed to make it appropriate for use in index-based investment products. 

Design of the index
 

All ASX-listed companies that meet the eligibility criteria are included in the index at rebalance which is quarterly.  At launch on 24 February 2020 the index comprised 46 companies, and has now grown to 58 companies at the latest rebalance in September 2020.

The index is designed to capture companies that are yet to qualify for the S&P/ASX 300 and from industry segments outside the existing information technology sector as defined by GICS (Global Industry Classification Standard).  The GICS categories eligible for inclusion are:

  •  Information Technology Sector 
  • Consumer Electronics Subindustry
  • Internet & Direct Marketing Retail Subindustry 
  •  Interactive Media & Services Subindustry, and 
  •  Health Care Technology Subindustry

The criteria below are also designed to ensure the investability of the index by setting capitalisation and liquidity standards and capping participation by any one company at 25%.

Entry criteria

Criterion What is it Qualify Retain membership
Minimum free float The percentage of the company’s shares that are freely available for trading e.g. not held by strategic or other long-term holders 30% 15%
Market capitalisation Float-adjusted for “free float” (see above) $120m $80m
Relative liquidity The company’s stock liquidity (daily value traded over day-end float-adjusted market capitalisation) relative to the market liquidity (All Ords daily value traded over the All Ords day-end market capitalisation) averaged over the three-month qualifying period 30% 15%
Minimum daily volume traded Value of securities traded, average over the three-month qualifying period $120k $80k

*In addition to the GICS classifications companies must meet the above requirements.

Operation of the index

The index is re-balanced quarterly effective the 3rd Friday of March, June, Sep and Dec.  IPOs are eligible quarterly.

Foreign domiciled companies are eligible and will be treated the same way as for other S&P/ASX indices.

There is no cap on the number of companies in the index – all ASX-listed companies that qualify will be included in the quarter after they qualify.  However there is a cap of 25% on any one index constituent.

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Disclaimer

The list of constituents that make up the S&P/ASX All Technology Index is subject to change. Independent advice from an Australian financial services licensee is needed before making financial decisions. This is not intended to be financial product advice. To the extent permitted by law, ASX Limited ABN 98 008 624 691 and its related bodies corporate excludes all liability for any loss or damage arising in any way including by way of negligence. © Copyright 2020 ASX Operations Pty Limited ABN 42 004 523 782. All rights reserved 2020.

It is not possible to invest directly in an index. S&P Dow Jones Indices receives compensation for licensing its indices to third parties. S&P Dow Jones Indices LLC does not make investment recommendations and does not endorse, sponsor, promote or sell any investment product or fund based on its indices.