[LINK] The new S&P/ASX All Technology Index
StephenLoosley at outlook.com
Mon Feb 24 16:41:43 AEDT 2020
S&P Dow Jones Indices and ASX Jointly Launch S&P/ASX All Technology Index to Capture Australia’s Growing Technology Sector
SYDNEY, FEB 21, 2020: S&P Dow Jones Indices, the world’s leading index provider, and The ASX Group, today announce that the real-time calculation of the S&P/ASX All Technology Index will commence at market open on February 24, 2020.
The index is a broad representation of technology-focused companies listed on the Australian Securities Exchange and is designed for Australian and global market participants to follow the performance of the country’s expanding technology industry, identify sector-level opportunities, and to help facilitate the creation of index-based investment strategies.
In addition, S&P DJI has entered into a license agreement with BetaShares for the S&P/ASX All Technology Index, which will be used to develop exchange traded products.
The S&P/ASX All Technology Index launch coincides with the start of a year-round celebration marking the 20th Anniversary of the S&P/ASX index series.
The S&P/ASX All Technology Index aims to capture the growth of Australia’s technology sector in a comprehensive way.
As a starting point, S&P DJI screens and selects stocks from all ASXlisted companies that meet minimum float adjusted market capitalization and liquidity thresholds.
The index also includes smaller companies that are not yet members of the S&P/ASX 300 and those that have recently become public to provide investors with fast exposures to these emerging businesses.
In addition, the index extends beyond purely technology companies as defined by the GICS Information Technology grouping to cover companies in other innovative technology-related sub-industries such as Consumer Electronics, Internet & Direct Marketing Retail, Interactive Media & Services and Health Care Technology.
Michael Orzano, Senior Director at S&P Dow Jones Indices said, “We are excited to take part in Australia’s ongoing economic growth and innovation story through the launch of the S&P/ASX All Technology Index. We are proud of our longstanding partnership with the ASX to bring fresh perspectives in analyzing a wide range of sectors and expand index representation beyond the country’s more established banking, real estate and natural resource market segments. Australian and global investors will now have a way of tracking these technology companies, further contributing to the growth and liquidity of the sector.”
Max Cunningham, Executive General Manager Listings, Issuer Services and Investment Products at ASX said, “The S&P/ASX All Tech Index has been several years in the making. The technology sector has grown remarkably and Australia now has a vibrant ASX-listed tech environment with many well-known names. It now deserves an index of its own, which will enhance the profile and understanding of technology companies in Australia, and provide more opportunities for investors.”
For more information about S&P Dow Jones Indices, please visit: www.spdji.com
For more information about ASX, please visit www.asx.com.au
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