Healthcare IPO Index Construction Summary
The Renaissance Healthcare IPO Index is designed to capture the performance
of newly public companies that provide healthcare products and services.
Novelty drugs and devices often become known to the public first through the
IPO market; this enables the Renaissance Healthcare IPO Index to capture the
performance of these innovative healthcare ideas at the earliest stage available
to public investors.
The following "healthcare sectors" are included in the Index:
- Medical Equipment & Supplies
- Biotechnology
- Healthcare Providers & Services
- Pharmaceuticals
- Managed Healthcare
- Consumer Health
- Healthcare Technology
- Life Sciences
- Wellness
|
| Weighting | Float-adjusted market capitalization |
| Number of Constituents | Variable based upon healthcare IPO activity |
| Constituent Additions | New healthcare IPOs are added upon the close of the first day of trading. |
| Constituent Deletions | Members are removed on the second anniversary of their IPO date, resulting in an approximate holding period of 500 days. |
| Minimum Float Capitalization | $50 million float-adjusted market capitalization |
| Rebalance Frequency | Index constituents are reviewed for eligibility based upon size and liquidity on a quarterly basis. The number of shares and float weights are also updated quarterly. |
| Significant Events | Shares are adjusted weekly for corporate actions that impact a constituent's float shares by more than 10%. |