A news release said the Index seeks to provide liquid exposure to 50 of the largest companies trading on U.S. stock exchanges whose primary business is related to consumer lending and consumer finance related activities. Companies include mortgage REITS, thrifts and mortgage finance companies, diversified and regional banks, consumer finance, or data processing services companies.
To be eligible for inclusion, a company must be a member of either the S&P Total Market Index (TMI) or S&P ADR Index, or be a U.S. company classified by the Global Industry Classification Standard (GICS) classification as Mortgage REIT.
The Index follows a modified market capitalization weighted scheme that reduces single stock concentration and gives greater weight to companies more purely exposed to the consumer finance theme. To ensure investability, minimum market capitalization and liquidity requirements have also been set.
More information is at www.indices.standardandpoors.com.