7th Jan 2013 17:50
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 Longer Dated 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 the rebalancing will include the addition of (i) Kansas Wheat Micro Securities and Soybean Meal Micro Securities; and (ii) Kansas Wheat Micro Longer Dated Securities and Soybean Meal Micro Longer Dated 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 fifty classes of Individual Securities (comprising twenty-seven classes of Classic Individual Securities and twenty-three classes of Longer Dated Individual Securities).
The timetable for the rebalancing of the Index Securities is as follows:
Monday 7th January 2013
The target number of Micro Securities to be increased/decreased for each commodity in each Index Security will be determined using Monday's settlement prices.
Tuesday 8th January 2013, Wednesday 9th January 2013, Thursday 10th January 2013, Friday 11th January 2013, Monday 14th January 2013
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 15th January 2013
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 Monday 14th January 2013 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 Longer Dated 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 Longer Dated All Commodities Index Security (for the Longer Dated Securities), and (ii) the targeted new weighting of each commodity for the Classic Securities and the Longer Dated Securities, based on the Commodity Index Percentage to be used in the rebalancing of DJ-UBSCISM (Classic Securities) or DJ-UBSCI-F3SM (Longer Dated Securities).
Existing weights based on current commodity prices (Classic securities)* | Existing weights based on current commodity prices (Longer Dated securities)* | Targeted weights based on new CIPs for the DJ‑UBSCISM (Classic securities) | Targeted weights based on new CIPs for the DJ‑UBSCI‑F3SM (Longer Dated securities) | |
Natural Gas | 11.669312% | 11.797812% | 10.423592% | 10.423592% |
WTI Crude Oil | 8.192899% | 8.201812% | 9.205885% | 9.205885% |
Brent Crude | 4.921589% | 4.764439% | 5.794115% | 5.794115% |
Unleaded Gasoline | 3.210728% | 3.333081% | 3.461341% | 3.461341% |
Heating Oil | 3.259957% | 3.236587% | 3.519358% | 3.519358% |
Live Cattle | 3.888117% | 3.834714% | 3.283417% | 3.283417% |
Lean Hogs | 2.078707% | 2.413702% | 1.899765% | 1.899765% |
Wheat | 6.237239% | 6.265410% | 3.433270% | 3.433270% |
Kansas Wheat | 0.000000% | 0.000000% | 1.320645% | 1.320645% |
Corn | 7.225161% | 7.191436% | 7.053145% | 7.053145% |
Soybeans | 8.371117% | 8.198066% | 5.494772% | 5.494772% |
Soybean Oil | 3.164419% | 3.163050% | 2.742618% | 2.742618% |
Soybean Meal | 0.000000% | 0.000000% | 2.606665% | 2.606665% |
Aluminum | 5.788958% | 5.774375% | 4.913196% | 4.913196% |
Copper (COMEX) | 7.273339% | 7.225534% | 7.277332% | 7.277332% |
Zinc | 3.411515% | 3.400614% | 2.519216% | 2.519216% |
Nickel | 2.370034% | 2.352681% | 2.243619% | 2.243619% |
Gold | 9.796928% | 9.724480% | 10.818613% | 10.818613% |
Silver | 2.959767% | 2.935315% | 3.897503% | 3.897503% |
Sugar | 3.029103% | 3.019452% | 3.883968% | 3.883968% |
Cotton | 1.533996% | 1.534524% | 1.765820% | 1.765820% |
Coffee | 1.617113% | 1.632916% | 2.442146% | 2.442146% |
Total | 100.000000% | 100.000000% | 100.000001% | 100.000001% |
*As of December 18th, 2012 |
For more information, please contact: +44 20 7448 4330
Related Shares:
Wt Agriculture