May 7, 2014
/PRNewswire/ -- Bringing its hallmark traits of integrity, transparency, and independence to the Colombian financial markets, S&P Dow Jones Indices - one of the world's leading index providers and home to the iconic S&P 500® and Dow Jones Industrial Average™ - announced today the launch of the S&P Colombia Select Index.
The S&P Colombia Select Index is designed to provide investors with a means of measuring the largest and most liquid stocks domiciled in
. The Index uses a modified market capitalization weighting scheme, providing investors with a broad, yet replicable index covering the Colombian equity market.
S&P Dow Jones Indices has licensed the S&P Colombia Select Index to an affiliate of Horizons ETFs Management (LATAM) LLC to serve as the basis for a forthcoming Exchange Traded Fund (ETF) based upon the Index.
"S&P Dow Jones Indices is excited to bring its world renowned skill in developing transparent, strongly governed, and representative stock market indices to Colombian investors," says
, Managing Director and Head of Global Equity Indices at S&P Dow Jones Indices. "The S&P Colombia Select Index employs many of the traits commonly associated with our leading indices. It also provides investors with a means of measuring the largest and most liquid stocks headquartered in
while reducing single stock and sector concentration within the Index."
"We have a strong business relationship globally with S&P Dow Jones Indices and are pleased to be able to offer their top-tier index strategies to Latin American investors," says
, Managing Director of Horizons ETFs Management (LATAM) LLC. "With the S&P Colombia Select Index, S&P Dow Jones Indices has used their vast indexing credentials to develop a superior offering for Colombian investors that reduce the sector concentration risks that exist in the current Colombian stock market indexes."
The underlying universe for the S&P Colombia Select Index is all stocks in the S&P Colombia BMI that trade on the Colombia Stock Exchange (the Bolsa de Valores de
or BVC) as domestic stocks. Among other criteria, stocks must also have a float adjusted market capitalization equal to or greater than
US$ 200 million
as of the rebalancing reference date.
To learn more about the S&P Colombia Select Index, please visit:
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
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