Stoxx unveils index series tracking 100-year-old firms

Sep 17th, 2015 | By | Category: ETF and Index News

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Stoxx, a leading European index provider, has launched the iStoxx Europe Centenary and the iStoxx Europe Centenary Select 30 indices which are designed to track the performance of European companies that were founded more than 100 years ago.

Stoxx unveil Centenary indices tracking well established firms

Hartmut Graf, chief executive officer of Stoxx.

The systematic nature of the indices makes them suitable as the basis for index-linked products such as exchange-traded funds and structured products.

“With the launch of the iStoxx Europe Centenary Indices, we are offering market participants an index concept to filter the companies in Europe’s most well-known benchmark for those who have been founded over 100 years ago, and are thus recognised as well established and trusted firms,” said Hartmut Graf, chief executive officer of Stoxx.

To form the iStoxx Europe Centenary Index, constituents are drawn from the Stoxx Europe 600 Index based on when they were founded. Companies who are over 100 years old are included and weighted by free-float adjusted market capitalisation.

The Select 30 Index takes this methodology a step further according to Mr. Graf: “The iSTOXX Europe Centenary Select 30 Index applies a series of sophisticated liquidity and dividend screens, making it an innovative addition to our suite of iSTOXX index concepts constructed for structured products.”

To be included in the Select 30 index, companies must have a dividend ex-date within the next month and/or enough sensitivity in terms of beta to the Euro Stoxx 50 Index. The number of companies from one industry is limited to ensure diversification. Once the 30 companies are selected, they are weighted based on their liquidity, with more liquid companies receiving a higher weighting.

Both indices are reviewed on a monthly basis, calculated in euro and US dollars, and available in price, net and gross return versions. Daily historical data is available from 23 December 2002.

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