Dow Jones Indexes said it will change the emerging markets index component of its global Dow Jones Target Date Indexes, effective at the close of business June 29.
The Dow Jones Wilshire Emerging Markets Large Cap Index will be substituted for the existing index, which was custom-designed for the Dow Jones Target Date Index series.
The Dow Jones Wilshire Emerging Markets Large Cap Index, which is part of the Dow Jones Wilshire Global Total Market Index, covers the largest stocks in 33 countries, compared to 14 in the index it is replacing. The Dow Jones Wilshire Global Total Market Index was launched in October 2006.
“This change represents a substantial improvement in the emerging markets module of our Dow Jones Target Date Indexes,” says Michael A. Petronella, president, Dow Jones Indexes/Reprints. “We decided to include the Dow Jones Wilshire Emerging Markets Large-Cap Index because big stocks are far more liquid than small stocks. Additionally, large-cap stocks constitute the vast majority of holdings by emerging-market fund managers.”