S&P Dow Jones Indices licenses new Columbia Select Index to Horizons for ETF launch
S&P Dow Jones Indices has launched the S&P Colombia Select Index, which is designed to provide investors with a means of measuring the largest and most liquid stocks domiciled in Colombia.
The index, which has been licensed to an affiliate of Horizons ETFs Management (LATAM) to serve as the basis for a forthcoming exchange-traded fund (ETF), uses a modified market capitalisation weighting scheme, providing investors with a broad, yet replicable index covering the Colombian equity market.
"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 Alka Banerjee, 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 Colombia 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 Howard Atkinson, 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."
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