This release updates EDHECinfra’s equity and debt indices as of Q3 2020.

  1. Data updates
    1. The financials of 154 companies were updated in this quarter using the latest audited accounts and other contributed data.
    2. In Q2 2020, we had expanded the adjustments to revenue growth projections to all the relevant sectors in light of the Covid-19 pandemic. In this quarter, the team has further updated its views based on industry and realised company data. Revenue growth projections remain in line with Q1 and Q2 assessments which proved to be mostly in line with realised data, some changes were made to road forecasts amongst others. See the full report here. 
    3. Five companies were substituted in the infra300 index due to financial data access limitations or reporting issues.
    4. In the broad-market universe, fourteen companies have been excluded due to missing financial accounts and thirty new companies have been added. 
  2.  Model updates
    1. There have been no changes to the asset pricing or cash flow models in this quarter.
  3. Calculation updates
    1. Index Freeze: Index calibrations are now frozen until YE 2019
    2. Analytics: Two new analytics results have been released: 
      1. Index weighted average yield curve: EDHECinfra computes the term structure of interest rates for all the countries using the yields of government bonds. This analytic shows the average term structure of interest rates across the index constituents. Ref: Weighted-average yield curve
      2. Effective number of TICCS: this gives a measure of index diversification/concentration by TICCS® segments and geography. Ref: Effective number of TICCS
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