Vodafone exposure

By Jenne Mannion Most All-Share and FTSE index trackers are using debentures to get full market weighting to Vodafone. Following its merger with Mannesmann, the new enlarged Vodafone company will account for 15% of the FTSE 100 and 13% of the FTSE All Share Index, above the 10% weighting in a single stock unit trusts are allowed under Ucits. The use of a debenture to make up exposure above 10% was first reported in Investment Week last week. Other options available to trackers include using FTSE indices capped at 10% maximum for a stock, or else increasing weightings to other stocks in...