Renaissance Capital To Begin Trading The Renaissance IPO ETF (NYSEArca:IPO)

newetfRenaissance Capital has announced that they will begin trading the Renaissance IPO ETF (NYSEArca:IPO) Wednesday, October 16, 2013. The Renaissance IPO ETF (the “Fund”), a series of Renaissance Capital Greenwich Fund (the “Trust”), seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Renaissance IPO Index. The Index is a rules based, modified capitalization weighted, float adjusted index intended to give investors a means of tracking the overall performance of common stocks and depository receipts of newly public U.S. exchange-listed companies. Only those companies that have gone public in the last 500 trading days with $100 million investable market capitalization at the time of the IPO are eligible for inclusion in the Index. The largest 80% of IPOs based upon full market capitalization, adjusted for free-float are included in the Index. Only shares that trade on a recognized U.S. exchange may qualify (e.g., stocks must be “reported securities” under Rule 11Aa3-1 under the Exchange Act). Constituent stocks are capped at 10% on any rebalancing date.

The Index is calculated and maintained by FTSE Group (the “Calculation Agent”) on behalf of the Index Provider. Index values are calculated daily and are disseminated every 15 seconds between the hours of approximately 9:30 a.m. and 4:15 p.m. (Eastern time).

The Index is calculated using a capitalization weighting methodology, adjusted for

Pages: 1 2

Leave a Reply

Your email address will not be published. Required fields are marked *