The Taiwan Stock Exchange (TWSE) said yesterday that its TWSE RA Taiwan Employment Creation 99 Index beat the weighted index on the main board in terms of total investment returns last year.
The TWSE said the employment index garnered 22.3 percent in total returns last year, compared with 15.1 percent in returns generated by the Taiwan Capitalization Weighted Stock Index.
The TWSE said that the employment index closed at 5,670.82 points at the end of last year, up from 4,637.07 at the end of the previous year.
The exchange said the employment index also beat 11.9 percent in returns posted by the FTSE TWSE Taiwan 50 Index, which comprises the top 50 stocks in Taiwan in terms of market capitalization.
The employment index, which was jointly compiled by the TWSE and the US-based investment management firm Research Affiliates, was launched in December 2010 and includes the top 99 employers in Taiwan as its constituents.
The employment index covers companies in the high-tech sector, the old economy sector and the financial sector.
The index uses Research Affiliates methodology that determines the constituents and their weightings based on the number of employees to show how corporations are fulfilling their social responsibilities.
The index is also able to reflect how local enterprises are pursuing long-term development through their efforts to cultivate talent for future growth, the exchange said.
The TWSE said the Research Affiliate’s innovative methodology is highly regarded in major equity markets around the world as it can generate satisfactory returns in line with the fundamentals of its constituents.
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