The S&P/ASX 20 (XTL) is the narrowest index in the S&P/ASX suite of indices.
• Contains the ASX top 20 stocks by way of float-adjusted market capitalisation
• Accounts for 49% (July 2014) of the Australian equity market
• Most companies pay above average dividends
• Rebalances occur quarterly with little rotation in constituents
• Highly liquid, actively traded and suitable for the largest global hedge funds.
Investment in the index can be achieved indirectly via the ASX listed iShares S&P/ASX 20 ETF (code: ILC). The fund provides exposure to all companies in the index and performance returns closely track the ASX 20 benchmark.