REFS is
a mine of invaluable information for the private investor.
Selecting shares without its help is like trying to
clap with one hand tied behind your back.
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The
FTSE Actuaries’ industry classification system
Each
company is classified according to the industry sub-sector which
most closely fits the business area from which the majority
of its profits is earned. There are around 75 sub-sectors, which
are grouped into 37 sectors belonging to the following six ‘economic
groups’:
Mineral Extraction
General Manufacturers
Consumer Goods
Services
Utilities
Financials
For example,
in the Mineral Extraction economic group there are three sectors
and six sub-sectors, as follows:
Sectors:
Sub-sectors:
Extractive
Industries Gold Mining
Other Mineral
Extractors & Mines
Mining Finance
Oil, Integrated
Oil, Integrated
Oil Exploration
and Oil Exploration & Production
Production
Production
Oil Services
Each sub-sector
has a strict definition; Gold Mining, for example, is defined
as ‘Prospectors for, extractors and refiners of gold-bearing
ores’.
The industry
sub-sectors are defined to meet the requirements of the current
FTSE Actuaries industry classification system. This is used
to allocate the constituent companies by size within the following
share indices:
FTSE 100
FTSE Mid
250
FTSE Actuaries
350
FTSE SmallCap
FTSE Actuaries
All-Share
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