NEW YORK, July 24, 2014 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI"), one of the world's leading providers of financial market indices, today announced the launch of the S&P MILA Pacific Alliance Indices. The Indices are the first to measure equity market performance of the Pacific Alliance, a strategic platform that seeks to advance economic integration among the four member states - Chile, Colombia, Peru, and Mexico.
The underlying universe for the S&P MILA Pacific Alliance Indices is all stocks in the S&P Global Broad Market Index (BMI) that trade on the Mercado Integrado Latino Americano (MILA) platform or the Mexican Stock Exchange (Bolsa Mexicana de Valores, BMV) as domestic stocks. Mexico has recently announced that it intends to join the MILA platform by the end of 2014.
The indices launched today include:
- S&P MILA Pacific Alliance Composite: A broad market index that includes all stocks listed on MILA and on the Mexico Stock Exchange that are included in the S&P Global BMI.
- S&P MILA Pacific Alliance Select: Index gauges the largest and most liquid stocks trading on MILA and on the BMV.
- S&P MILA Pacific Alliance Completion: Designed to capture the small-cap segment of the regional market by including all the stocks in the S&P MILA Pacific Alliance Composite that are not members of the S&P MILA Pacific Alliance Select.
- S&P MILA Pacific Alliance Sector Indices: Ten sector indices based on the GICS sector classification with the constituents derived from the S&P MILA Pacific Alliance Composite.
Alka Banerjee, Managing Director of Global Equity Indices at S&P Dow Jones Indices, said: "The Pacific Alliance region has gained the attention of the global investment community given the region's healthy growth and economic and market liberalization in recent years. The S&P MILA Pacific Alliance Indices provide local and international investors with relevant benchmarks to measure this growing region."Nicolas Almazan, Leader of the Commercial Committee of MILA, comments: "These new indices represent the great relevance MILA has acquired during its three years of existence, and with the expected inclusion of Mexico in the last quarter of this year, MILA becomes the financial arm of the Pacific Alliance. The addition of the new indices to the existing three MILA Andean indices delivers better performance information of issuers listed on the countries of MILA and Mexico." The launch of the S&P MILA Pacific Alliance Indices expands the S&P MILA index family. As previously announced, the existing S&P MILA indices – S&P MILA 40, S&P MILA Financials, and S&P MILA Resources were renamed effective July 14, 2014 to S&P MILA Andean 40, S&P MILA Andean Financials, and S&P MILA Andean Resources, respectively, to more specifically describe the region they represent. For more information, including the complete methodology, please visit: www.spdji.com. About S&P Dow Jones IndicesS&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 TM, 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. S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("S&P"), a part 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. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively "S&P Dow Jones Indices") do not sponsor, endorse, sell, or promote any investment fund or other investment vehicle that is offered by third parties and 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 S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties. SOURCE S&P Dow Jones Indices