Tel Aviv stock exchange launches six new bond indices

Feb 26th, 2018 | By | Category: Fixed Income

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The Tel Aviv Stock Exchange (TASE) has expanded its Tel-Bond range of corporate bond index family with a further six new indices. Four of the indices are ratings-based and two are sector-based.

TASE launches six new bond indices

TASE launches six new bond indices

The new indices may serve as underlying references for investment products, including ETFs.

This expansion takes the number of Tel-Bond index launches to 16 in less than one year.

The new indices have more ratings segmentation, which will enable investors to segment their portfolios according to risk level.

Tel-Bond CPI Linked A Index

The index includes those bonds from the Tel-Bond CPI Linked Index which have been given a Midroog rating in range between A3 and A1, or a Maalot rating in a range between A- and A+.

Tel-Bond CPI Linked AA-AAA Index

The index includes those bonds from the Tel-Bond CPI Linked Index which have been given a minimum Midroog rating of Aa3, or a minimum Maalot rating of AA-.

Tel-Bond Shekel A Index

The index includes those bonds from the Tel-Bond Shekel Index which have been given a Midroog rating of between A3 and A1, or a Maalot rating between A- and A+.

Tel-Bond Shekel AA-AAA Index

The index includes those bonds from the Tel-Bond Shekel Index which have been given a minimum Midroog rating of Aa3, or a minimum Maalot rating of AA-.

Tel Bond-Shekel Banks & Insurance Index

The index consists of those corporate bonds from banking and insurance which are included in the Tel-Bond Shekel and meet the index criteria (have ratings of at least A- by Maalot, or A3 by Midroog).

Tel Bond-CPI Linked Real Estate Index

The index consists of those corporate bonds from the Real Estate industry which are included in the Tel-Bond CPI Linked and meet the index criteria (at least A- by Maalot, or A3 by Midroog).

The Tel-Bond CPI-Linked Index launched on May 2012. It consists of CPI-linked bonds, which are included in the Tel-Bond Universe and meet the index criteria. The Tel-Bond Shekel Index includes locally denominated corporate bonds, with a fixed coupon, which are included in the Tel-Bond Universe. The Tel-Bond Universe includes over 300 corporate bonds.

In February 2013, TASE launched the Tel Bond-Yields Index, which includes CPI-linked bonds, with a ratings segmentation of between BBB- and A.

Just over two years later, TASE then launched the Tel Bond-Yield Shekel Index, which includes Shekel bonds, with an identical rating segmentation to the Tel Bond-Yields Index.

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