The bourse is launching today the EGX100 Equal Weight Index (EWI), which allocates constituents an equal weight of 1% on the first day of each quarterly review, according to an EGX press release (pdf). The launch follows the roll out of the EGX70 EWI earlier this year to replace the traditional index and allow tracker funds to better gauge the performance of their portfolios. The bourse issued a guidebook outlining its methodology.

The EGX100 and EGX70 EWI gauges will be reviewed every month, instead of six, similar to what happens with the benchmark EGX30 index. Constituents will be added or removed from the indices based on their monthly turnover.

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