CIVETS is an acronym that refers to the countries of Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa. The S&P CIVETS 60 is comprised of ten liquid stocks trading on each relevant domestic exchange within the 6 CIVETS countries. The Index is likely to serve as the basis for ETFs in Europe and Asia.
According to a press release, to be included in the S&P CIVETS 60, stocks must have a float-adjusted market capitalization above $500 million. The Index is a modified market capitalization-weighted index, with no country having a weight of more than 30% at each semi-annual rebalancing.
As of March 31, 2011, South Africa represented 31.61% of the Index, followed by Indonesia (28.14%), Turkey (21.01%), Columbia (12.49%), Egypt (5.68%) and Vietnam (1.07%).More information is at http://www.standardandpoors.com/indices.