Dow Jones Wilshire 5000 stock index will add 32 companies considered by the investment community to be headquartered in the United States although they are legally based outside the country, according to a statement today from Dow Jones Indexes and Wilshire Associates. The companies, which have a market capitalization totaling $130 billion, would be included when the index is rebalanced, effective Sept. 19, said Kim Shepherd, Wilshire spokeswoman.
Tyco International Ltd., Ace Ltd. and Marvell Technology Group Ltd. together account for 65% of that total market cap, the statement said.
The index had 4,939 companies as of July 29, said Ms. Shepherd.
"We are making adjustments that we feel are appropriate to the current investment environment," Dennis Tito, Wilshire chairman and CEO, said in the statement. "By including the securities of firms that have relocated outside of the U.S. or were founded in other countries but have a significant presence within our nation, we've ensured that the scope of the domestic market - as perceived by investors - is included in the Dow Jones Wilshire 5000."
Factors that may be considered to determine inclusion include "the country where the company's headquarters and management are located; the company's legal domicile; the stock exchange(s) it trades on, if there is no listing in its home country;" and "the location of its operations (production assets)," according to the statement.