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In 2014, the 3% index returned 5.8% compared to 1.0% for the FTSE All Share (total return version). This means the 3% index has out-performed the FTSE All Share in nine of the last twelve years. The average annual margin of performance since the start of 2003 is +12.9%.

The 3% index includes all the companies in the 10% index together with companies estimated to be between 3% and 10% owned by employees (other than main board directors). Although a 3% threshold may seem low to create a discernible employee ownership effect, it is still a significant threshold for capital-intensive companies, and the culture of employee ownership may be just as strong in such companies. The 3% index contains a larger number of companies so is less susceptible to sector bias. For this reason, it may be of interest to investment managers who favour a diversified approach.

The number of companies in each of the indices has changed over time; the pattern can be seen in the performance analysis to June 2013.

One year performance tables for new FTSE-calculated UK Employee Ownership Indices

over 1 year
3% EOI All-Share difference
2003 71.9% 20.7% 51.1%
2004 24.0% 12.8% 11.2%
2005 49.3% 21.8% 27.5%
2006 36.6% 16.8% 19.8%
2007 -12.0% 5.3% -17.3%
2008 -44.3% -29.8% -14.5%
2009 53.1% 29.9% 23.2%
2010 16.8% 14.3% 2.5%
2011 -3.8% -3.3% -0.6%
2012 27.4% 12.2% 15.2%
2013 53.3% 20.9% 32.4%
2014 5.8% 1.0% 4.8%
2015 26.4% 0.8% 25.6%
average 23.4% 13.9%


over 1 year
10% EOI All-Share difference
2003 42.3% 20.7% 21.6%
2004 27.3% 12.8% 14.5%
2005 57.3% 21.8% 35.5%
2006 15.8% 16.8% -1.0%
2007 -8.4% 5.3% -13.7%
2008 -48.5% -29.8% -18.8%
2009 54.0% 29.9% 24.1%
2010 5.5% 14.3% -8.8%
2011 -22.6% -3.3% -19.3%
2012 18.6% 12.2% 6.4%
2013 65.1% 20.9% 44.2%
2014 -3.7% 1.0% -4.7%
2015 1.6% 0.8% 0.8%
average 15.7% 6.2%


Index values of the new 10% index and new 3% index at the end of each quarter in reverse chronological order.

31 Dec 2002 = 100.

New EOI 10% New EOI 3% FTSE All-Share
2015 Q4 374.47 956.27 283.82 Press release
Q3 378.29 968.70 273.29
Q2 397.75 1015.82 289.85 Press release
Q1 371.10 847.52 294.60 Press release
2014 Q4 368.62 756.33 281.53 Press release
Q3 389.17 754.06 280.16 Press release
Q2 395.13 774.84 283.19 Press release
Q1 405.36 798.06 276.96 Press release
2013 Q4 382.90 714.85 278.86 Press release
Q3 330.03 635.44 264.32 Press release
Q2 266.30 538.53 250.25
Q1 261.77 528.19 254.47
2012 Q4 231.89 466.42 230.71
Q3 219.73 431.41 222.26
Q2 206.05 402.55 212.31
Q1 225.97 422.27 217.93
2011 Q4 195.53 365.98 205.57
Q3 213.50 369.91 189.28
Q2 260.60 431.42 218.85
Q1 262.42 410.05 214.77
2010 Q4 252.50 380.58 212.53
Q3 231.25 351.79 198.06
Q2 229.15 331.33 174.12
Q1 252.88 348.07 197.78
2009 Q4 239.34 325.85 185.93
Q3 264.15 339.92 176.23
Q2 206.45 276.44 143.88
Q1 159.82 218.82 129.87
2008 Q4 155.43 212.87 143.12
Q3 207.03 278.94 158.98
Q2 245.24 316.73 180.92
Q1 269.33 349.35 183.53
2007 Q4 302.03 382.25 203.78
Q3 338.35 437.11 204.42
Q2 341.12 454.68 208.28
Q1 335.65 452.17 199.18
2006 Q4 329.88 434.42 193.60
Q3 319.31 379.75 182.43
Q2 323.99 342.38 176.03
Q1 350.37 357.61 179.11
2005 Q4 284.88 318.02 165.75
Q3 253.64 300.69 159.13
Q2 212.70 245.54 147.27
Q1 215.46 236.31 140.26
2004 Q4 181.16 213.06 136.14
Q3 150.45 187.17 127.74
Q2 142.68 182.41 124.15
Q1 152.72 186.35 121.40
2003 Q4 142.30 171.86 120.71
Q3 130.81 148.58 110.29
Q2 118.85 126.00 106.22
Q1 85.93 93.62 92.89
2002 Q4 100.00 100.00 100.00
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