Renaissance International IPO Index
The Renaissance International IPO Index serves as the index benchmark for the Renaissance International IPO ETF (Ticker: IPOS). The index is
designed to represent the non-US market while avoiding turnover. The index reflects approximately the top 80% of newly public companies in capitalization terms,
is weighted by float capitalization, and imposes a 10% cap on large constituents. Sizable IPOs are added on a fast entry basis and the rest
are added during scheduled quarterly reviews. Companies are removed two years after their initial trade date, when they become seasoned equities.