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S&P Dow Jones unveils S&P China 500, benchmark covering China’s sectors
By Marisa Wong
Morgantown, W.Va., Sept. 23 – S&P Dow Jones Indices announced the launch of the S&P China 500 index, a new index covering all Chinese share classes, including A shares and offshore listings in Hong Kong and the United States, that represents the broader sectors in the country’s economy.
The benchmark is designed to capture a complete China story and is expected to become a flagship investable index for China, according to a press release.
The index has been licensed to ICBC Credit Suisse Asset Management for exchange-traded fund and index fund development.
The index is made up of 500 of the largest, most liquid Chinese companies while approximating the sector composition of the broader equity market.
The company said that compared to other China indexes, this one features enhanced sector diversification due to a stock selection process that targets sector weights of the broad index universe.
“Despite the short-term challenges impacting the market, Chinese equities remain a key part of long-term investment strategies for many global investors given the size and importance of the Chinese economy and stock market,” Michael Orzano, director of global equity indices at S&P Dow Jones Indices, commented in the press release.
Richard Tang, chief executive officer at ICBC Credit Suisse Asset Management (International) Co. Ltd., added, “We expect that the constructive results brought by our collaboration will significantly benefit [the] international investment community that is increasingly looking to include China in their portfolios more meaningfully and efficiently.”
Based in New York, S&P Dow Jones Indices is a part of McGraw Hill Financial and provides index-based concepts, data and research.
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