Creators of the new Merrill Lynch 100 Technology index expect it to become the benchmark for technology investing.
The index uses the symbol MOL. It contains 100 stocks, better mirroring "the likely size of a pure tech fund" than other technology indexes, said Rosemary Berkery, co-director of Merrill's Global Securities Research & Economics division, New York. The index provides exposure to sectors such as computer software and hardware, computer services, networking and semiconductors. It can be used as a selection universe or to index assets. The index is equal weighted, reducing the possibility of a few selections dominating, said Merrill officials.