PRESS RELEASE
Asia Index Private Limited to launch S&P BSE India Manufacturing Index
A unique investable and benchmark equity index for India’s manufacturing and production sector
Mumbai, June 24, 2015 – Asia Index Private Limited, a joint venture between S&P Dow Jones Indices and BSE, has announced the launch of the S&P BSE India Manufacturing Index. The index is a measure for production and manufacturing activities in the country and the first of its kind in India. It is designed to provide liquid and investable exposure to India’s top 30 manufacturing and production companies.
The constituents are selected from the S&P BSE LargeMidCap Index, a sub-index of the S&P BSE AllCap Index. Eligibility includes common stocks with a listing history of at least six-months. Each stock is identified as a manufacturing and production company, per BSE Industry Sub-Groups, and is listed in the index methodology since the last rebalancing reference date. The Index is calculated real-time.
The Index is diversified and the maximum weight of the sector is capped at 30% and the maximum weight of an individual stock is capped at 10%. The S&P BSE India Manufacturing Index is reconstituted semi-annually, in March and September. The index values are available in Indian Rupees and United States Dollar; first value date of the index goes back to 16th September 2005.
“The manufacturing sector is one of the key indicators of growth of the Indian economy,” says Alka Banerjee, CEO of Asia Index Private Limited. “The S&P BSE India Manufacturing Index will help investors measure the performance of the top 30 manufacturing and production companies in India. The index is diversified and investable, so it can serve as the basis for the creation of low cost investable products such as ETFs and Index Funds tracking the Index.”
“We are excited to launch the S&P BSE India Manufacturing index at a time when manufacturing sector in India has renewed interest among investors locally as well as globally. With the Government’s renewed focus on increasing manufacturing in India, the S&P BSE India Manufacturing Index will aid investors with a better tool to gauge the manufacturing and production activities in the country” says Ashishkumar Chauhan, MD & CEO, BSE.
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 Ltd
BSE Ltd (formerly Bombay Stock Exchange Ltd.), established in 1875, is Asia’s first and fastest Stock Exchange with the response time of 200 microseconds and one of India’s leading exchange groups and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized 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 (SME). 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 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.
About S&P Dow Jones Indices
S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world’s largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 1,000,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com.
Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC, a subsidiary of McGraw Hill Financial. Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). These trademarks have been licensed to S&P Dow Jones Indices LLC.
It is not possible to invest directly in an index. Asia Index Pvt. Ltd (“AIPL”), S&P Dow Jones Indices LLC, BSE, Dow Jones and their respective affiliates do not sponsor, endorse, sell, or promote any investment fund or product that seeks to provide an investment return based on the performance of any index. This document does not constitute an offer of services in jurisdictions where AIPL, S&P Dow Jones Indices and/or BSE do not have the necessary licenses. AIPL receives compensation in connection with licensing its indices to third parties.
For more information:
BSE Ltd.
Marketing Communications
Yatin Padia – +91 022 22718516
yatin.padia@bseindia.com
Asia Index Private Limited
Bhavna Sadarangani
Marketing
bhavna.sadarangani@spdji.com
S&P Dow Jones Indices
David R. Guarino
Communications
dave.guarino@spdji.com
(+1) 212 438 1471