NEW YORK, Jan. 25, 2016 /PRNewswire/ -- The School of Business Administration at the University of Miami, a private research university, has selected S&P Dow Jones Indices (S&P DJI) to be the custom calculation agent for a new custom hybrid index - University of Miami's Florida 50 Index. Custom hybrid indices are client-owned, white label custom indices that use an S&P DJI index to screen for constituents and/or as an actual constituent of their index.
According to the University of Miami School of Business, the University of Miami's Florida 50 Index measures the performance companies within the S&P Composite 1500® Index, whose corporate headquarters are domiciled in the state of Florida.
"We are excited to be the chosen as the calculation agent for the University of Miami," comments Michael Mell, Director of Custom Indices at S&P Dow Jones Indices. "By expanding our custom hybrid indexing capabilities beyond financial services, S&P DJI is able to provide the academic community with benchmarks tailored to their unique needs."
"The establishment of the University of Miami's Florida 50 Index, the first index of its kind to be owned by a university, illustrates our commitment to producing knowledge that can have a positive impact on the wider community," said Gene Anderson, Dean of the University of Miami School of Business Administration. "By gauging and regularly reporting on the performance of the top corporations in Florida, we will provide new insight that we believe will be valuable and of significant interest to businesses, policy makers and individuals statewide and beyond."
S&P Dow Jones Indices is an acknowledged global leader in the calculation of custom indices, providing unparalleled services in the design, construction, management and distribution of custom indices. Drawing on our knowledge and a global database of over 22,000 individual stocks, S&P Dow Jones Indices custom indices provides an independent and flexible service enabling clients to purposefully design a custom index to meet their specific requirements across equity, commodity, and fixed income asset classes.
More information about the University of Miami's Florida 50 Index can be found at: bit.ly/1OhZWED
For more information about S&P Dow Jones Indices, please visit: www.spdji.com
About S&P Dow Jones Indices
S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 1,000,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com.
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SOURCE S&P Dow Jones Indices LLC