The index effect: why Mainfreight & Serko hit record highs

The logistics company has seen its liquidity increase enough to see it added to a global index fund. (Photo: supplied)

Thu, 02 Sep 2021

This week both Mainfreight and Serko have been trading at all-time highs after it was announced they will be included in a large index fund from mid-September.The two stocks will be included in FTSE’s global small cap index, a British index that tracks the smallest 10% of listed companies globally.There are already 24 New Zealand companies in the index, with Mainfreight and Serko set to join them on Sept 17 having met FTSE’s size and liquidity requirements.Both stocks saw an immediate share price response as active investors rushed...

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