MSCI Australia Select High Dividend Yield Index

The index targets Australian companies with high dividend yields that are both sustainable and persistent. Index construction starts with a dividend screening process: only securities with a track record of consistent dividend payments and with the capacity to sustain dividend payouts into the future are eligible index constituents. From this list of eligible companies, the index selects only those with higher than average dividend yields. The index is market-cap weighted and rebalanced semi-annually in May and November. To promote diversifi cation within the index, at each rebalance, individual securities are capped at a 10% weight, while the aggregate of all stock positions above 5% is capped at 40%. To reduce turnover, buffer rules apply at each rebalance.