At Merel Finance, we constructed the Merel Finance Value Index^TM to measure the performance of our stock picking method. This performance is updated daily and compared to the Dow Jones Industrial average. The companies (value stocks) that form the index are presented below. As a starting point, the closing prices on friday august 17, 2007 are used. In the calculations, it is assumed that dividends are re-invested.

30/11/2007 - GSF (bought by RIG) is replaced by FDG.

30/10/2008 - FDG (bought by TCK) is replaced by AGU.