ETF Colombia Select de S&P

Transcripción

1 ETF Colombia Select de S&P

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3 S&P Colombia Select Metodología El universo de selección parte de todas las acciones que pertenezcan al S&P Colombia Broad Market Index BMI y que trancen en la BVC como acciones locales de acuerdo con las reglas de domicilio de S&P Usualmente la incorporación o el registro son considerados el factor determinante para definir la nacionalidad de una compañía. Cuando el domicilio se considera un domicilio por conveniencia como lo son Bermudas, Islas Cayman, Channel Islands, Liberia o Panamá, algunos criterios adicionales aplican. Algunos de estos criterios son: País de en donde estan sus oficinas generales Bolsa de registro primario. Fuente primaria de recursos Ubicación de sus activos fijos o empleados Tener una Capitalización de Mercado flotante ajustada mayor a US$ 200 millones. Tener un promedio diario de negociación durante los últimos 3, 6 y 12 meses (ADTV) mayor/igual a US$125,000 en su mercado local. Source: S&P Dow Jones Indices. For more information on domicile criterion refer to the S&P Dow Jones Indices Corporate Actions: Policies & Practices found on

4 Metodología No haber tenido mas de 10 días sin operaciones en los últimos 3 meses. Se combinarán las diferentes clases de acciones para cálculos de market cap, al final se incluirá el precio de la acción mas líquida. Ajuste por capacidad que busca que un ticket de US$ 50 millones pueda ser negociado en un solo día, con base en los volúmenes de operaciones recientes. Rebalanceos Semestrales (Marzo y Septiembre): Siendo efectivos el 3er viernes del mes. Los datos de referencia son el cierre del último día hábil de Febrero y Agosto respectivamente. En el Rebalanceo Ninguna acción puede tener una ponderación superior al 15% en el índice. Ningún sector puede representar mas del 40% del índice.

5 For Institutional Investor Use Only Not for inspection, distribution or quotation to the general public. S&P MILA 40 Index Metodología Universo: Lo constituyen empresas que hagan parte del S&P Global BMI y se encuentren en las bolsas MILA como acciones domésticas Capitalización de mercado: Flotante ajustada por encima de USD $100 millones Liquidez: Promedio de 3 meses del valor diario operado en el mercado local por encima de USD $250, emisores seleccionados; ningún país puede tener menos de 5 componentes Techos: Por país 50%, por emisor 8% Rebalanceos: dos veces al año en Marzo y Septiembre Reglas de exclusión moderadas Busca evitar cambios innecesaria del indice 10 años de historia disponible Codigo en Bloomberg: SPMILA

6 Fondo Bursátil Horizons Colombia Select de S&P Objetivo de inversión El Fondo Bursátil Colombia Select de S&P busca obtener resultados de inversión comparables al índice S&P Colombia Select, (SPCOSLCP index) antes de descontar costos y gastos asociados al Fondo. Administrador & Custodio Gestor Profesional Proveedor del Indice Información detallada del ETF Nemotécnico: HCOLSEL Valor indicativo intradía: HCOL Bolsa: BVC (Colombia) Índice subyacente: SPCOSLCP Moneda: COP Cobertura moneda: No Distribuciones: Trimestral Comisión anual: 0.55% (Máximo) AUM (COP) 92,4 mil COP~46mUS$ Unidades en circulación: 6,270,000 Fecha lanzamiento:

7 Indices Colombia (YTD) S&P MSCI - BVC

8 Lo Mejor de Colombia en un ETF Bajo costo (55bp Anuales) Diversificación, liquidez y transparencia. Está compuesto por las acciones más grandes y liquidas que cotizan en la BVC y pertenecen al índice S&P Colombia Select. Un índice diseñado y calculado por Standard & Poor s El mayor proveedor de índices en el mundo. Amplia diversificación sectorial.

9 Miembros del índice ( )

10 Comparación Sectorial 45% 40% 35% 30% 25% 20% 15% 10% 5% S&P Colombia Select COLCAP Index 0% Financials Energy Materials Consumer Staples Industrials Utilities Financials Energy Materials Consumer Staples Industrials Utilities S&P Colombia Select 40,2% 14.9% 22.4% 9.2% 2.2% 11.1% COLCAP Index 39,3% 18,3% 19,3% 12,0% 0.5% 10,6% Source: S&P Dow Jones Indices, Bloomberg as at September 30, The above table has applied GICS to the ColCap index for illustrative purposes only. The ColCap index does not use GICS. The ColCap index uses its own proprietary industry classifications for classifying securities. GICS is an industry classification scheme jointly developed and administered by Standard & Poor s and MSCI.

11 Desempeño vs. COLCAP Valuation Date 15/10/2014 Price Return (in COP) Price Returns (%) Index Name 1 Month 3 Month 6 Month YTD 1 year 3 year 5 Year S&P COLOMBIA SELECT -5,03% -7,00% -2,23% 1,52% -6,18% 3,36% 8,07% COLCAP -5,85% -7,42% -3,73% -1,62% -10,37% -0,88% 4,72% Perf. Diff SPCOSLCP - COLCAP (%) 0,87% 0,45% 1,56% 3,20% 4,67% 4,28% 3,20% Standard Deviation (Volatility %) Index Name 1 Year 3 year 5 Year S&P COLOMBIA SELECT 13,09% 12,16% 13,68% COLCAP 14,05% 13,02% 15,02% Diferencia STDev -0,96% -0,86% -1,34% Standard Deviation uses the average annual standard deviation of daily returns Source: Bloomberg & Calculations, data as at July 31 st, Calculations are based on price return index levels in COP. The historical performance is shown for illustrative purposes only. It is only meant to illustrate the effects of the compound growth rate and is not meant to forecast, imply or guarantee the future performance of any particular investment or index, which will vary. Performance results for the S&P Colombia Select Index prior to its inception (10/24/2013) are hypothetical, back-tested daily price returns. Past performance is no guarantee of future results.

12 Indices Colombia Oct Source: Bloomberg, as at October 15 th, Calculations are based on price return index levels in COP. The historical performance is shown for illustrative purposes only. It is only meant to illustrate the effects of the compound growth rate and is not meant to forecast, imply or guarantee the future performance of any particular investment or index, which will vary. Performance results for the S&P Colombia Select Index prior to its inception (10/24/2013) are hypothetical, back-tested daily price returns. Past performance is no guarantee of future results.

13 Resumen de beneficios clave del índice Colombia Select Ninguna acción tendrá mas de 15% del índice, reduciendo el riesgo individual por acción. Los sectores tendrán un límite del 40% para reducir la concentración sectorial y buscar una mayor diversificación. Mayor capacidad del índice, lo que reduce las dificultades de réplica. (Puede recibir más fácilmente operaciones por montos más grandes) No tiene un número fijo de miembros del índice, en la medida en que el mercado colombiano crezca esto se verá reflejado en el número de miembros del índice. Un comité independiente en S&P supervisa el manejo del índice y sus políticas. 6 Versiones del índice, versión Price, net y total-return disponibles en USD y en COP Menor exposición a energía.

14 Disclaimer Horizons ETFs is a member of Mirae Asset Global Investments. Commissions, management fees and expenses all may be associated with an investment in exchange traded products. The exchange traded products represented herein are not guaranteed, their values change frequently and past performance may not be repeated. The reglamento contains important detailed information about the exchange traded products. Please read the relevant reglamento before investing. THE OBLIGATIONS OF THE FUND S MANAGEMENT COMPANY ASSOCIATED WITH THE MANAGING OF THE PORTFOLIO ARE ONES OF DUE DILIGENCE AND NOT OF GUARANTEED PERFORMANCE, RESPONSIBLE FOR ORDINARY NEGLIGENCE IN THE PERFORMANCE OF ITS MANAGEMENT AS A PRUDENT AND DILIGENT EXPERT. INVESTMENT IN THEFUND IS SUBJECT TO INVESTMENT RISKS ARISING FROM THE EVOLUTION OF THE PRICES OF THE SECURITIES THAT MAKE UP THE FUND. REGISTRATION IN THE NATIONAL REGISTRY OF SECURITIES AND ISSUERS ( RNVE AFTER ITS INITIALS IN SPANISH) DOES NOT IMPLY CERTIFICATION REGARDING THE PROFITABILITY OF THE SECURITY OR SOLVENCY OF THE ISSUER BY THE COLUMBIAN FINANCIAL SUPERINTENDENCY. THE LIABILITY OF THE PORTFOLIO MANAGER IN RESPECT OF THE MANAGEMENT OF THE PORTFOLIO OF FONDO BURSÁTIL HORIZONS COLOMBIA SELECTDE S&P IS OF DUE DILIGENCE AND NOT OF GUARANTEED PERFORMANCE, RESPONSIBLE ONLY FOR ORDINARY NEGLIGENCE IN THE PERFORMANCE OF ITS MANAGEMENT AS A PRUDENT AND DILIGENT EXPERT. THE INVESTMENT MADE BY THE INVESTORS INVOLVES THE RISK OF PARTIAL OR TOTAL LOSS. THE MANAGEMENT COMPANY SHALL ABSTAIN FROM IN ANY WAY GUARANTEEING A FIXED RETURN ON THE PARTICIPATIONS CONSTITUTED, OR FROM GUARANTEEING THE PERFORMANCE OF VALUATIONS OF THE ASSETS MAKING UP THE FUND.

15 Disclaimer The S&P Colombia Select Index (the Index ) is a product of S&P Dow Jones Indices LLC ( SPDJI ), and has been licensed for use by Horizons. Standard & Poor s and S&P are registered trademarks of Standard & Poor s Financial Services LLC ( S&P ); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ( Dow Jones ); The Trademarks are trademarks of the S&P and Dow Jones; and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Horizons. The Fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, any of their respective affiliates (collectively, S&P Dow Jones Indices ). S&P Dow Jones Indices makes no representation or warranty, express or implied, to the owners of the Fund or any member of the public regarding the advisability of investing in securities generally or in the Fund particularly or the ability of the Index to track general market performance. S&P Dow Jones Indices only relationship to Horizons with respect to the Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The Index is determined, composed and calculated by S&P Dow Jones Indices without regard to Horizons or the Fund. S&P Dow Jones Indices have no obligation to take the needs of Horizons or the owners of the Fund into consideration in determining, composing or calculating the Index. S&P Dow Jones Indices are not responsible for and have not participated in the determination of the prices, and amount of the Fund or the timing of the issuance or sale of the Fund or in the determination or calculation of the equation by which the Fund is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices have no obligation or liability in connection with the administration, marketing or trading of the Fund. There is no assurance that investment products based on the Index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment advisor. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.

16 Disclaimer S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY HORIZONS, OWNERS OF THE FUND, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBLITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND HORIZONS, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES. Managed by Horizons ETFs Management (Canada) Inc. Administered by Fiduciaria Bogotá