Spa rebalances stock

  • Story by: Paul Burgin
  • Magazine: InvestmentAdviser
  • Published Monday , September 01, 2008

Spa ETF has rebalanced its quant-based US stock index MarketGrader 100, removing Berkshire Hathaway, Microsoft and Exxon Mobil.

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Financials have been slashed from 13 per cent to 5 per cent and information technology from 23 per cent to 13 per cent as the spreading global downturn takes its toll.

Allocations in energy are now at their maximum permitted 25 per cent as companies in the sector remain highly cash-generative.

In the last six months, MarketGrader 100 rose 1.65 per cent against a bigger fall of 3.49 per cent by the S&P 500.

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