标普调整新规则,成长股与价值股分类将迎来重整

格隆汇
8 hours ago
标普道琼斯指数公司调整了股票划分为成长股和价值股的规则,相关指数成分股或将迎来大幅调整。根据该公司周五发布的声明,新规则将把无形资产、预期盈利和自由现金流纳入评估因素,以判断一家公司的股价是否相对低估。同时,衡量公司成长潜力的指标将不再包括过去12个月的股价动能。此次调整是在近期征求意见后作出的,将于12月21日市场开盘前的年度指数重组中正式生效。新规可能迫使追踪相关指数的基金调整持仓,以匹配新的成分股名单。行业研究分析师詹姆斯·塞法特估计,至少有3750亿美元的被动型基金资金与受影响的指数挂钩。标普此次调整源于市场长期以来对传统价值股估值指标是否仍然有效的争论。研究人员和基金经理认为,价值股长期表现低迷,部分原因在于现有衡量标准存在缺陷,尤其是市净率。

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