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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: XOsDaWAY2GO who wrote (6670)	9/2/1998 1:46:00 AM
From: Webhead	Respond to of 34824

This looks interesting w/r/t sector investing. Ed ------- Tuesday September 1, 8:26 pm Eastern Time Goldman starts benchmarks for U.S. stock sectors NEW YORK, Sept 1 (Reuters) - Goldman, Sachs & Co Tuesday announced a group of benchmark indexes for U.S. equity markets sector mutual funds. Goldman said the product, known as the Goldman Sachs Sector Indexes (GSSI), offer independent, broadly representative, sector-specific benchmarks based on objective criteria. The products cover seven sectors including consumer industries, cyclical industries, financials, health care, natural resources, utilities and technology. The Goldman Sachs technology index was introduced in July, 1996 while the other indexes are new. Total stocks in each index currently are 300 in the consumer sector, 277 in the cyclical sector, 271 in the financial sector, 93 in healthcare, 96 in natural resources, 136 in utilities and 190 in technology. Stocks in the benchmarks must have a market capitalization greater than a minimum cut off specific to each sector and subject to periodic rebalancing. The float must be greater than 20 percent of outstanding shares. The liquidity criteria is based on an annualized share turnover of 30 percent. Common shares must trade on the New York Stock Exchange, the American Stock Exchange or NASDAQ, including foreign companies registered in the U.S but excluding ADR's, REIT's limited partnerships and closed end mutual funds. The indexes will be rebalanced twice a year, Goldman said. Mark Zurack, Goldman Sachs managing director in the firm's equity derivatives group, said in a statement that the benchmarks may be used to supplement other broad U.S. equity measures such as the Standard & Poor's 500. He said that up to now there has been a lack of objectively-determined indexes geared toward sector funds.