Index provider Stoxx has launched the Stoxx Europe 600 NC Supersector Indices, a set of non-capped supersector indices for the European region.

The indices are intended to be used for benchmarking purposes.

The launch follows the decision to cap the component weights in the existing Stoxx Europe 600 Supersectors Indices on a quarterly basis to ensure compliance with Ucits III standards for portfolio diversification.

This will be implemented with the September benchmark review and become effective on 20 September 2010.

"The upcoming methodology change for the Stoxx Europe 600 Supersector Indices in regard to capping of the component weights will allow passive investment products to follow the performance of the well-known supersector indices, while complying with the regulatory requirements of Ucits III," says Hartmut Graf, chief executive officer, Stoxx. "We are launching the Stoxx Europe 600 NC Supersector Indices today to accommodate those market participants who prefer an un-capped benchmark, thus taking a further step to strengthen Stoxx's product offering for the buy-side business."

The indices aim to represent the largest European companies in each of the 19 ICB supersectors, and currently cover Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the UK.

The 19 supersectors are: automobiles and parts, banks, basic resources, chemicals, construction and materials, financial services, food and beverage, healthcare, industrial goods and services, insurance, media, oil and gas, personal and household goods, real estate, retail, technology, telecommunications, travel and leisure. and utilities.