PRESS RELEASE
Asia Index Appointed Index Provider for the new ETF comprising shares of CPSE and other corporate entities
Asia Index Private Limited has been given the mandate to partner with ICICI Prudential AMC to design and maintain the index for the new ETF
Mumbai, November 23, 2016 – Asia Index Private Limited, a joint-venture between S&P Dow Jones Indices and BSE, has been appointed by ICICI Prudential Asset Management Company Limited to design and maintain the index for the creation and launch of the new ETF comprising shares of CPSE and other corporate entities.
Earlier this year, ICICI Prudential AMC was appointed by the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, to manage the new ETF.
The government launched the first CPSE ETF in March 2014, and this new ETF will serve as an additional mechanism for the government to monetize those CPSEs and other corporate entities which will eventually form part of the ETF basket.
“Divesting from publicly listed companies has been a key agenda item for the government. We are delighted to partner with ICICI to create a new vehicle for the disinvestment process as well as increasing the passive investing footprint in India.” said Alka Banerjee, MD & CEO, Asia Index Pvt. Ltd.
“We are extremely pleased to be a part of this venture and provide a platform to grow the passive investing experience for the retail investor.” said Ashish Kumar Chauhan, MD & CEO, BSE Ltd.
For more information, please visit: www.asiaindex.co.in
ASIA INDEX PRIVATE LIMITED
Asia Index Pvt. Ltd is a 50-50 partnership between S&P Dow Jones Indices LLC, the world’s largest provider of financial market indices, and BSE Ltd, Asia’s oldest stock exchange and home to the iconic SENSEX index - a leading indicator of Indian equity market performance. Asia Index Pvt. Ltd, which combines the benchmarks, market intelligence, and insights of both parent companies, each established more than 115 years ago, aims to provide a full array of indices enabling global and domestic investors to participate in South Asia’s vibrant economies. The Company is best known for calculating, publishing, and maintaining a diverse family of Asian indices under the umbrella brand, S&P BSE Indices.
About BSE
BSE (Formerly Bombay Stock Exchange), established in 1875, BSE is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange groups and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base which includes two leading global exchanges, Deutsche Bourse and Singapore Exchange as strategic partners. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing. BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs). BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments. Indian Clearing Corporation Limited, the wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on BSE platform and provides full novation, guaranteeing the settlement of all bonafide trades executed on the BSE Platform. BSE Institute Ltd, a fully owned subsidiary of BSE, runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), a subsidiary of BSE, is one of the two Depositories in India.
About S&P Dow Jones Indices
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than based on any other provider in the world. With over 1,000,000 indices and more than 120 years of experience constructing innovative and transparent solutions, S&P Dow Jones Indices defines the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.
For more information:
BSE Ltd.
Marketing Communications
Yatin Padia – +91 22 2271 8516
corp.comm@bseindia.com
Asia Index Pvt. Ltd.
Marketing & Communications
Bhavna Sadarangani - +91 22 2272 5292
AsiaIndex_Marketing@spglobal.com