VENEZUELA TO BE REMOVED FROM THE DOW JONES WILSHIRE GLOBAL TOTAL MARKET INDEXES
New York, March 28, 2007 -- Dow Jones Indexes, a leading global index provider, and Wilshire Associates, a global leader in investment technology, investment consulting and investment management, today announced that Venezuela will be removed from the Dow Jones Wilshire Global Total Market IndexSM family. This change will become effective at the start of trading on Monday, June 18, 2007.
The decision to remove Venezuelan stocks from the Dow Jones Wilshire Global Total Market Index family reflects Dow Jones Wilshire Indexes' commitment to providing plan sponsors, asset managers and institutional investors with a global benchmark that fully supports their fiduciary responsibilities. Due to the impending nationalization of several Venezuelan companies with a significant amount of foreign ownership, the country risk, as measured by the Index of Economic Freedom, fell below Dow Jones Wilshire Index's eligibility standards.
"The Dow Jones Wilshire Global Index family measures the complete global opportunity set of liquid, investable stocks with readily available price data. The decision to remove Venezuela is consistent with our goal of providing the largest selection pool from which institutional investors can make their asset allocation decisions." said Michael A. Petronella, president of Dow Jones Indexes/Ventures. "The Dow Jones Wilshire Global Total Market Index continues to be the broadest and most representative gauge of world equities."
Six Venezuelan companies will be removed from the Dow Jones Wilshire Global Total Market Indexsm, Dow Jones Wilshire Americas Indexsm, Dow Jones Wilshire Global exUS Indexsm, Dow Jones Wilshire Emerging Markets Indexsm and Dow Jones Wilshire Latin America Indexsm.
As of March 27, 2007, the Dow Jones Wilshire Global Total Market Index measures 12,774 stocks in 59 countries with a float-adjusted market capitalization of USD $37.5 trillion.
About the Dow Jones Wilshire Index Family
The development of the global family of indexes in 2006 marks a new phase of the Dow
Jones-Wilshire relationship. The affiliation began in 2004 when Dow Jones and Wilshire
co-branded and marketed the Dow Jones Wilshire family of indexes. By extending the
Dow Jones Wilshire methodology used in the U.S. internationally, the global indexes
provide unprecedented breadth, consistent global coverage, and objective and
transparent rules.
Float-adjusted capitalization-weighted versions of the Dow Jones Wilshire 5000, 4500, RESI and REIT indexes were launched on May 1, 2004. The large-, small- and micro-cap indexes, as well as growth and value indexes, were launched March 14, 2005. The top 10 industries, as defined by the Industry Classification Benchmarksm system, were first published in August 2005, followed by the lower ICB hierarchy levels December 2005.
Dow Jones Wilshire indexes are available on market-data vendor platforms- many in real-time format-and on the Dow Jones Indexes (www.djindexes.com) and Wilshire Associates (www.wilshire.com) Web sites. The Dow Jones Wilshire 5000 Composite Indexsm is calculated and distributed by Dow Jones Indexes pursuant to an agreement between Dow Jones & Company and Wilshire Associates Incorporated. "Dow Jones" and "Wilshire" are the respective service marks of Dow Jones & Company, Inc. and Wilshire Associates Incorporated.
About Wilshire Associates
Wilshire Associates is a leading global investment technology, investment consulting and
investment management firm with four business units: Wilshire Analytics, Wilshire Funds
Management, Wilshire Consulting, and Wilshire Private Markets. The firm was founded in 1972,
revolutionizing the industry by pioneering the application of investment analytics and research to
investment management for the institutional marketplace. Wilshire also is credited with helping to
develop the field of quantitative investment analysis that uses mathematical tools to analyze
market risks. All other business units evolved from Wilshire's strong analytics foundation.
Wilshire developed the index now known as the Dow Jones Wilshire 5000 Composite Indexsm,
the first asset/liability models for pension funds, the first U.S. equity style metrics work and many
other "firsts" as the firm grew to nearly 350 employees serving the investment needs of
institutional and high net worth clients around the world.
Based in Santa Monica, CA, Wilshire provides services to clients in more than 20 countries
representing in excess of 600 organizations with assets totaling more than $12.5 trillion. With nine
offices on four continents, Wilshire Associates and its affiliates are dedicated to providing clients
with the highest quality counsel, products and services. Please visit www.wilshire.com for more
information.
About Dow Jones Indexes
Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information. Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages and the Dow Jones Global, Regional, Country and Sector Titans Indexes and is co-owner of the Pan- European Dow Jones STOXX Indexes. Together with Wilshire Associates, Dow Jones Indexes markets and licenses the Dow Jones Wilshire index family, which includes the Dow Jones Wilshire 5000 and its size, style, and sector indexes. Dow Jones Indexes also offers a number of specialty indexes including hedge fund, commodity and credit derivative indexes.
In addition to Dow Jones Indexes, Dow Jones & Company (NYSE: DJ; dowjones.com) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Newswires, MarketWatch and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva and with Hearst of SmartMoney. Dow Jones also provides news content to CNBC and radio stations in the U.S.
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