NEW YORK, March 28, 2007 (PRIME NEWSWIRE) -- Dow Jones Indexes, a leading global index provider, and Wilshire Associates, a global leader in investment technology, investment consulting and investment management, today announced that Venezuela will be removed from the Dow Jones Wilshire Global Total Market Index(sm) family. This change will become effective at the start of trading on Monday, June 18, 2007.
The decision to remove Venezuelan stocks from the Dow Jones Wilshire Global Total Market Index family reflects Dow Jones Wilshire Indexes' commitment to providing plan sponsors, asset managers and institutional investors with a global benchmark that fully supports their fiduciary responsibilities. Due to the impending nationalization of several Venezuelan companies with a significant amount of foreign ownership, the country risk, as measured by the Index of Economic Freedom, fell below Dow Jones Wilshire Index's eligibility standards.
"The Dow Jones Wilshire Global Index family measures the complete global opportunity set of liquid, investable stocks with readily available price data. The decision to remove Venezuela is consistent with our goal of providing the largest selection pool from which institutional investors can make their asset allocation decisions," said Michael A. Petronella, president of Dow Jones Indexes/Ventures. "The Dow Jones Wilshire Global Total Market Index continues to be the broadest and most representative gauge of world equities."
Six Venezuelan companies will be removed from the Dow Jones Wilshire Global Total Market Index(sm), Dow Jones Wilshire Americas Index(sm), Dow Jones Wilshire Global exUS Index(sm), Dow Jones Wilshire Emerging Markets Index(sm) and Dow Jones Wilshire Latin America Index(sm).
As of March 27, 2007, the Dow Jones Wilshire Global Total Market Index measures 12,774 stocks in 59 countries with a float-adjusted market capitalization of USD $37.5 trillion.
About the Dow Jones Wilshire Index Family
The development of the global family of indexes marks a new phase of the Dow Jones-Wilshire relationship. The affiliation began in 2004 when Dow Jones and Wilshire co-branded and marketed the Dow Jones Wilshire family of indexes. Now, by extending the Dow Jones Wilshire methodology used in the U.S. internationally, the global indexes provide unprecedented breadth, consistent global coverage, and objective and transparent rules.
Float-adjusted capitalization-weighted versions of the Dow Jones Wilshire 5000, 4500, RESI and REIT indexes were launched on May 1, 2004. The large-, small- and micro-cap indexes, as well as growth and value indexes, were launched March 14, 2005. The top 10 industries, as defined by the Industry Classification Benchmark(sm) system, were first published in August 2005, followed by the lower ICB hierarchy levels December 2005.
Dow Jones Wilshire indexes are available on market-data vendor platforms -- many in real-time format -- and on the Dow Jones Indexes (www.djindexes.com) and Wilshire Associates (www.wilshire.com) Web sites. The Dow Jones Wilshire 5000 Composite Index(sm) is calculated and distributed by Dow Jones Indexes pursuant to an agreement between Dow Jones & Company and Wilshire Associates Incorporated. "Dow Jones" and "Wilshire" are the respective service marks of Dow Jones & Company, Inc. and Wilshire Associates Incorporated.
Journalists may e-mail questions regarding this press release to PR-Indexes@dowjones.com or contact Dow Jones Indexes/STOXX press office:
New York: +1-212-597-5720 Frankfurt: +49-69-29-725-290
To contact Wilshire Associates public relations, please e-mail kim.shepherd@wilshire.com or call: Chicago: Kim Shepherd, +1-312-762-5504.
Note to Editors:
About Dow Jones Indexes
A full-service index provider, Dow Jones Indexes develops, maintains and licenses indexes for use as benchmarks and as the basis of investment products. Best known for the Dow Jones Industrial Average, Dow Jones Indexes also is co-owner of the Dow Jones STOXX indexes, the world's leading pan-European indexes, and together with Wilshire Associates, provides the Dow Jones Wilshire Global Index family, which is anchored by the Dow Jones Wilshire 5000 and covers more than 12,000 securities in 59 markets. Beyond equity indexes, Dow Jones Indexes maintains a number of alternative indexes, including measures of the hedge fund and commodity markets. Dow Jones indexes are maintained according to clear, unbiased and systematic methodologies that are fully integrated within index families. www.djindexes.com
Dow Jones Indexes is part of Dow Jones & Company (NYSE:DJ) (dowjones.com), which is a leading provider of global business news and information services. Its Consumer Media Group publishes The Wall Street Journal, Barron's, MarketWatch and the Far Eastern Economic Review. Its Enterprise Media Group includes Dow Jones Newswires, Factiva, Dow Jones Licensing Services, Dow Jones Indexes and Dow Jones Financial Information Services. Its Local Media Group operates community-based information franchises. Dow Jones provides news content to CNBC and radio stations in the U.S.
About Wilshire Associates
Wilshire Associates is a leading global investment technology, investment consulting and investment management firm with four business units: Wilshire Analytics, Wilshire Funds Management, Wilshire Consulting, and Wilshire Private Markets. The firm was founded in 1972, revolutionizing the industry by pioneering the application of investment analytics and research to investment management for the institutional marketplace. Wilshire also is credited with helping to develop the field of quantitative investment analysis that uses mathematical tools to analyze market risks. All other business units evolved from Wilshire's strong analytics foundation.
Wilshire developed the index now known as the Dow Jones Wilshire 5000 Composite Index(sm), the first asset/liability models for pension funds, the first U.S. equity style metrics work and many other "firsts" as the firm grew to nearly 350 employees serving the investment needs of institutional and high net worth clients around the world.
Based in Santa Monica, CA, Wilshire provides services to clients in more than 20 countries representing in excess of 600 organizations with assets totaling more than $12.5 trillion. With nine offices on four continents, Wilshire Associates and its affiliates are dedicated to providing clients with the highest quality counsel, products and services. Please visit www.wilshire.com for more information.
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