Last updated: 10:46 / Friday, 9 May 2014
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S&P Dow Jones Indices Launches Colombia Select Index

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S&P Dow Jones Indices Launches Colombia Select Index
  • The S&P Colombia Select Index is designed to provide investors with a means of measuring the largest and most liquid stocks domiciled in Colombia
  • It has licensed the S&P Colombia Select Index to an affiliate of Horizons ETFs to serve as the basis for a forthcoming ETF based upon the Index

S&P Dow Jones Indices has announced the launch of the S&P Colombia Select Index.

The S&P Colombia Select Index is designed to provide investors with a means of measuring the largest and most liquid stocks domiciled in Colombia. The Index uses a modified market capitalization weighting scheme, providing investors with a broad, yet replicable index covering the Colombian equity market.

S&P Dow Jones Indices has licensed the S&P Colombia Select Index to an affiliate of Horizons ETFs Management (LATAM) LLC to serve as the basis for a forthcoming Exchange Traded Fund based upon the Index.

"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”, says says Alka Banerjee, Managing Director and Head of Global Equity Indices at S&P Dow Jones Indices.

"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.

The underlying universe for the S&P Colombia Select Index is all stocks in the S&P Colombia BMI that trade on the Colombia Stock Exchange (the Bolsa de Valores de Colombia or BVC) as domestic stocks. Among other criteria, stocks must also have a float adjusted market capitalization equal to or greater than US$ 200 million as of the rebalancing reference date.

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