FTSE Russell Indices - Deletions

FTSE Russell Indices - Deletions

Evraz Plc., Polymetal International Plc., Petropavlovsk Plc., Raven Property Group

FTSE Russell has received feedback from FTSE Russell's External Advisory Committees and a range of market participants that the ability to buy or sell shares of the index constituents below is severely restricted due to major international brokerage firms no longer supporting trading of these securities and therefore there is insufficient institutional liquidity and market depth.  Consequently, this will prevent index trackers from replicating the ongoing inclusion of these names within the FTSE Russell indices. 

Following consideration from the FTSE Russell Index Governance Board, FTSE Russell will invoke Principle 2 of the Statement of Principles for the FTSE Russell Equity Indices, which states: 'The index calculation methods should be capable of being readily understood and followed by index users.'

Accordingly, FTSE Russell will delete the following constituents from all FTSE Russell indices in conjunction with the forthcoming March 2022 index reviews, at zero value (effective from the open on 21 March 2022):

·      Evraz Plc. (UK, B71N6K8, FTSE All-Share, GEIS Mid Cap, FTSE 100) - currently suspended by the Financial Conduct Authority from the Official List

·      Polymetal International Plc. (UK, B6T5S47, GEIS Mid Cap, FTSE All-Share, FTSE 100)

·      Petropavlovsk Plc. (UK, 3154454, GEIS Small Cap, FTSE All-Share, FTSE 250)

·      Raven Property Group (UK, B0D5V53, FTSE All-Share, FTSE UK Small Cap)

For the avoidance of doubt, the index calculation will continue to use the trading price of the above constituents until the close on Friday 18 March 2022, when the close prices will be updated to zero. In the absence of a resumption of trade, Evraz will be held at 80.89p for the duration of its suspension until it is updated to zero at the close on 18 March 2022, inclusive of the 18 March 2022 expiry.

FTSE UK Index Series

Evraz Plc. and Polymetal International Plc. are currently scheduled to be deleted from the FTSE 100 Index and concurrently added to the FTSE 250 Index at the forthcoming March 2022 FTSE UK Series' Index review.  Consequent to their deletions from all FTSE Russell indices, NB Private Equity Partners (B28ZZX8) and Standard Life Private Equity Trust (3047468) will now be promoted from the FTSE UK Small Cap index and added to the FTSE 250 Index in conjunction with the March 2022 index review, after ranking the FTSE UK Monitored List and selecting the highest ranked non-constituent based on Friday 11 March 2022 close prices.

The replacements for the associated FTSE UK indices will be confirmed and communicated on Monday, 14 March 2022 (e.g. FTSE4Good UK 50). 

March 2022 Indicative Review Files

The March 2022 indicative review files published on Monday 14 March 2022 (dated Monday 21 March 2022) will reflect these changes.