S&P launches first investable index for frontier equity markets |
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Published
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Mon, 22 Oct 2007 11:46
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MUMBAI (Thomson Financial) - Standard & Poor's said it has launched the S&P Select Frontier Index, the first investable index covering a broad range of frontier equity markets across Emerging Europe, Asia, South America and the Middle East.The S&P Select Frontier Index is comprised of 30 of the largest and most liquid companies from countries with smaller economies or less developed capital markets than traditional emerging markets. The index is designed to meet the needs of investors seeking to create index-linked products for frontier markets, which have the potential for similar or greater returns than other better known developed and emerging markets.The S&P Select Frontier Index is a subset of the benchmark S&P Extended Frontier 150 Index.At launch, the index includes companies from Bulgaria, Cambodia, Colombia, Jordan, Kazakhstan, Pakistan, Panama, UAE and Vietnam. The biggest country weightings include Pakistan (28.97 pct), UAE (23.12 pct), Jordan (13.23 pct), Vietnam (11.54 pct) and Panama (7.74 pct), while the top three constituents are MCB Bank (Pakistan), Emaar Properties (UAE) and Copa Holdings (Panama).To be eligible for inclusion in the index, a company must have a minimum float-adjusted market capitalisation of 100 mln usd, a minimum average daily value traded of 2 mln usd and a minimum of 15 days traded over the previous six months.TFN.newsdesk@thomson.comans/ranCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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