"This universe is represented by the aggregate TOP Index, which is currently comprised of 50 car models drawn from 18 different marques. At present there are three subindices:
two, “marque-specific”, being an F-Index for Ferrari, with 12 constituent models and a HAGI P-Index for Porsche with 14 constituent models. The third sub-index
includes 24 models from 16 classic marques other than Porsche and Ferrari. In structure, the HAGI indices are capitalization-weighted – the average price for each model in
the index is multiplied by the number of surviving cars of that model that are known to exist. As at January 2009, the universe of surviving cars was over 18,000. This
means that the weighting for each model in the index is the current total value of that model and the weighting composition of the index as a whole is therefore directly
equivalent to the proportional total values of all of the constituent models. In January 2009 the total market cap of the index was equal to £ 5.2bn and the average value per
vehicle in the index was equal to approximately £ 285,000." |
