Price History Description
The
NASDAQ® NeuroInsights® Neurotech Index price history for the period of
5/31/2005 to 8/27/2007 was calculated in the following manner.
Weighting
The
same modified market-capitalization weighting methodology which will be
used to administer the NASDAQ® NeuroInsights® Neurotech Index was used
as the basis for calculating its price history.
Components
The
component list was derived from list of securities tracked by
NeuroInsights with data sourced from FactSet Research Systems and
NASDAQ, based on the Index Inclusion Criteria stated above. At
each semi-annual reconstitution point, securities that commenced
trading within the previous year were then included in the price
history.
During
the course of the back-test, the Index Inclusion Criteria were adjusted
to ensure an adequate number of Index components during the back-test.
The
June 2005 evaluation period volume requirement was lowered to 50,000
shares from 100,000 shares and the market capitalization requirement
was lowered to $100 million from $200 million.
Number of Total Eligible and Included Index Components per Semi-Annual Evaluation:
June 2005: 31
December 2005: 29
June 2006: 29
December 2006: 32
June 2007: 33
Pricing
On
5/31/2005, the Index’s aggregate market value was calculated using
prices on 5/31/2005 multiplied by the initial Index Shares as of
5/31/2005. The Index’s aggregate market value was then divided by an initial divisor chosen to set the initial Index Value to 100.00. Subsequently,
Index Shares were rebalanced quarterly and the composition of the Index
was re-adjusted semi-annually as described above. Upon
each quarterly rebalancing and semi-annual reconstitution, a new Index
aggregate market value was then calculated, with the divisor adjusted
to ensure Index continuity.
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