more focus leases, page-30

All Ordinaries index. This index is used as a broad-based indicator of the Australian market. The All Ordinaries index is drawn from the S&P/ASX index series and extends representation to 500 stocks listed on the ASX.

All Ordinaries. The All Ordinaries index is considered the total market indicator for the Australian equity market. The index is comprised of the 500 largest securities listed on the ASX and the constituents are not screened for liquidity. It is the only index that is not float-adjusted.

Market Capitalization. The S&P/ASX indices only include securities that are considered to be institutionally investable, and market capitalization is a key criterion for stock selection. Stocks are included if they are large enough to meet the minimum ranking requirements for the representative indices within the Australian market.
The market capitalization criterion for stock inclusion is based upon the daily average market capitalization of a security over the last six months. The stock price history (last six months), latest available shares on issue and the Investable Weight Factor (IWF) are the relevant variables for the calculation. The IWF is a variable that is primarily used to determine the available float of a security for ASX listed securities.

Investable Weight Factor (IWF). A stock?s weight in an index is determined by the float-adjusted market capitalization of the stock. This is a function of current index shares, the latest available stock price and the IWF. The IWF represents the float-adjusted portion of a stock?s equity capital. Therefore any strategic holdings that are classified as either corporate, private or government holdings reduce the IWF which, in turn, results in a reduction in the float-adjusted market capital.
Shares owned by founders, directors of the company, trusts, venture capitalists and other companies are also excluded. These are also deemed strategic holders, and are considered long-term holders of a stock?s equity. Any strategic shareholdings that are greater than 5% of total issued shares are excluded from the relevant float.
Refer to the Investable Weight Factor section, under Index Maintenance, for details on float/index weight-adjustment.

Liquidity. Only stocks that are regularly traded are eligible for inclusion in any S&P/ASX index. A stock?s liquidity is measured relative to its peers.

Yup. Stuff yer consolidation.