German Entrepreneurial Index
The German Entrepreneurial Index (GEX ) is an equity index calculated by Deutsche Börse since January 3, 2005 as a performance index and a price index and published.
Was developed and assembled by the GEX " Center for Entrepreneurial Studies and Financials " ( " CEFS " ) of the Technical University of Munich.
This index is designed to reflect the performance of the shares of owner- German companies. The GEX lists the German companies in the Prime Standard of the Frankfurt Stock Exchange, which have been listed for more than ten years and are managed by their owners. The owners must have at least 25 percent and a maximum of 75 percent of the shares and be an important representation on the Board and the Supervisory Board. Therefore, only voting shares, thus considered ordinary shares.
The underlying 1000 was calculated for the 30 July 2004. In the period from June 2002 to September 2004 the back-calculated GEX has outperformed the DAX, Nasdaq and SDAX. In the three-year period from 2010 to 2012, the GEX has, however, 41% lost value, while the DAX has risen by 25%. The number of companies listed has decreased from initially 120 to 35.
The relevant selection criteria for inclusion of a stock in the GEX are the ownership structure and the duration of the capital market affiliation. The weighting of the shares in the GEX is calculated according to the market capitalization of the free float and reviewed quarterly. The percentage of a value at GEX is limited to a maximum of ten percent.