6th Jan 2012 18:00
Rebalancing of Index Securities
The annual rebalancing of the DJ-UBSCISM and DJ-UBSCI-F3SM will commence this week. Consequently, each of the twenty-eight categories of Index Securities (comprising eighteen categories of Classic Index Securities and ten categories of Forward Index Securities) issued by ETFS Commodity Securities Limited (the "Issuer") will also be rebalanced. As explained in the Prospectus, this will be done by adjusting the number of Micro Securities comprised in each Index Security and as announced by the Issuer on 22 December 2011, the rebalancing will include the addition of Brent Crude Micro Securities and Brent Crude Micro Forward Securities to the DJ-UBSCISM and DJ‑UBSCI F3SM respectively.
The rebalancing itself will not change the value of any Index Security and no action is required on the part of Security Holders. The rebalancing does not affect the forty-six classes of Individual Securities (comprising twenty-five classes of Classic Individual Securities and twenty-one classes of Forward Individual Securities).
The timetable for the rebalancing of the Index Securities is as follows:
Friday 6 January 2012
The target number of Micro Securities to be increased/decreased for each commodity in each Index Security will be determined using Friday's settlement prices.
Tuesday 10th, Wednesday 11th, Thursday 12th, Friday 13th January and Tuesday 17th January 2012
At the beginning of each of these days, the number of Micro Securities will be adjusted, based on the targeted changes and the actual previous day's closing prices, and the updated number of Micro Securities for each class of Index Security in issue will be available prior to trading commencing on the Issuer's website at www.etfsecurities.com/csl and www.etfsecurities.com/cslf3
Tuesday 17th January 2012
The final number of Micro Securities in each Index Security following the rebalancing will be announced prior to the opening of trading. (Note, however, if there is a Market Disruption Event for a commodity on Friday 13th January 2012 then the final number of Micro Securities for any Index Security containing that commodity will not be determined until the next Business Day which is not a Market Disruption Day).
The table below shows (i) the existing weighting of each commodity for the Classic Securities and the Forward Securities, as measured by the effective weight at current commodity prices in the ETFS All Commodities Index Security (for the Classic Securities) or the ETFS Forward All Commodities Index Security (for the Forward Securities), and (ii) the targeted new weighting of each commodity for the Classic Securities and the Forward Securities, based on the Commodity Index Percentage to be used in the rebalancing of DJ-UBSCISM (Classic Securities) or DJ-UBSCI-F3SM (Forward Securities).
Existing weights based on current commodity prices (Classic securities) | Existing weights based on current commodity prices (Forward securities) | Targeted weights based on new CIPs for the DJ‑UBSCISM (Classic securities) | Targeted weights based on new CIPs for the DJ‑UBSCI‑F3SM (Forward securities) | |
Natural Gas | 6.62% | 7.19% | 10.77% | 10.77% |
WTI Crude Oil | 16.64% | 16.93% | 9.69% | 9.69% |
Brent Crude | - | - | 5.31% | 5.31% |
Gasoline | 4.58% | 4.36% | 3.41% | 3.41% |
Heating Oil | 4.64% | 4.51% | 3.46% | 3.46% |
Live Cattle | 3.74% | 3.58% | 3.63% | 3.63% |
Lean Hogs | 2.11% | 2.07% | 2.11% | 2.11% |
Wheat | 3.28% | 3.16% | 4.96% | 4.96% |
Corn | 8.15% | 8.61% | 6.67% | 6.67% |
Soybeans | 7.44% | 7.42% | 7.08% | 7.08% |
Soybean Oil | 2.79% | 2.77% | 3.37% | 3.37% |
Aluminium | 4.47% | 4.35% | 5.88% | 5.88% |
Copper | 6.49% | 6.30% | 7.06% | 7.06% |
Zinc | 2.27% | 2.20% | 3.12% | 3.12% |
Nickel | 1.89% | 1.83% | 2.58% | 2.58% |
Gold | 13.64% | 13.07% | 9.79% | 9.79% |
Silver | 3.66% | 3.51% | 2.77% | 2.77% |
Sugar | 3.41% | 3.45% | 3.76% | 3.76% |
Cotton | 1.84% | 2.39% | 2.00% | 2.00% |
Coffee | 2.32% | 2.28% | 2.57% | 2.57% |
Total | 100.0% | 100.0% | 100.0% | 100.0% |
For more information, please contact: +44 20 7448 4330
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