Rule Changes for MVQTML

Old

For each company in the investable universe one pricing source qualifies for the eligible universe. In cases where a company has multiple listings (e.g. ADRs, GDRs, or listings on markets other than in the home country), the price sources will be selected to the eligible universe in the following order: 

1. US price source, 

2. UK price source - London Stock Exchange International Order Book (IOB) only, 

3. Home-market price source, 

4. Most liquid foreign-market price source.

New

For each company in the investable universe one pricing source qualifies for the eligible universe. In cases where a company has multiple listings (e.g. ADRs, GDRs, or listings on markets other than in the home country), the most liquid price source will be selected.

Old

If a security’s weight exceeds the maximum weight, the weight will be reduced to the maximum weight and the excess weight will be redistributed among uncapped and components equally within the security’s respective tier. This process is repeated until the sum of all components’ weights is equal to 100% and no component’s weight exceeds the maximum security weight.

New

If a security’s weight exceeds the maximum weight, the weight will be reduced to the maximum weight and the excess weight will be redistributed among uncapped and components on a pro-rata basis within the security’s respective tier. This process is repeated until the sum of all components’ weights is equal to 100% and no component’s weight exceeds the maximum security weight.