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ETFs shrug off pending multitrillion dollar Nasdaq 100 revamp

There is no evidence yet of front-running despite decision to massively reduce weightings of tech giants

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A multitrillion-dollar revamp of one of the world’s largest stock market indices looks set to be a bit of a damp squib in the exchange traded fund world.

The combined weighting of six vast technology behemoths — Microsoft, Apple, Alphabet, Nvidia, Amazon and Tesla — in the Nasdaq 100 index is due to be slashed from the 50.9 per cent they reached at the close of trading on July 7, when the “special rebalance” was announced, to just 40 per cent.

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