NEW YORK, June 7, 2016 /PRNewswire/ -- S&P Dow Jones Indices (SPDJI) announces a special one-time uncapping of the Financial Services Select Sector (IXFS) and Real Estate Select Sector (IXRE) indices effective after the close of June 17, 2016.

Launched in August, 2015, the Financial Services Select Sector Index includes S&P 500 companies from the GICS Financials sector excluding Real Estate but including Mortgage REITS, and the Real Estate Select Sector Index includes S&P 500 companies from the GICS Real Estate Industry Group, excluding Mortgage REITS. SPDJI will uncap these indices so that combined these indices will roll up into the uncapped Financial Select Sector Index (IXM), which includes all S&P 500 companies from the GICS Financials sector. At this time, uncapping these two indices will not cause either to exceed the maximum weight rules outlined by the Index Methodology.

As previously announced, a new GICS Real Estate Sector is being created, elevating its position from Industry Group within the Financials Sector. The changes to the GICS structure will be implemented in the GICS Direct product after the close of business on August 31, 2016. To coincide with its September quarterly rebalance procedures, SPDJI will implement the changes after the close of business on September 16, 2016. At that time, the Financial Select Sector Index will drop all real estate companies from the index. Membership criteria of the Financial Services Select Sector and the Real Estate Select Sector will remain unchanged.

The following table details all of the changes to the Select Sector indices. 



    Index                            Effective Date     Change
                                     (after the close)
    ---                              ----------------

    Financial Services Select Sector June 17, 2016      All companies will be uncapped to
    Index                                               their float market cap weight
    -----                                               -----------------------------

    Real Estate Select Sector Index  June 17, 2016      All companies will be uncapped to
                                                        their float market cap weight
    ---                                                 -----------------------------

    Financial Select Sector Index    September 16, 2016 All companies moving to the new
                                                        Real Estate Sector will be dropped
                                                        from the index
    ---                                                 --------------

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FOR MORE INFORMATION:

David Blitzer
Managing Director and Chairman of the Index Committee
New York, USA
(+1) 212 438 3907
david.blitzer@spdji.com

Soogyung Jordan
Global Head of Communications
New York, USA
(+1) 212 438 2297
soogyung.jordan@spdji.com

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SOURCE S&P Dow Jones Indices