LONDON, Jan. 21, 2015 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI"), one of the world's leading providers of financial market indices, today announced the launch of the S&P Quality Nordic Index which joins S&P DJI's rapidly expanding global lineup of factor-based indices. The new index, which is designed to provide a basis for exposure to high quality stocks in the Nordic market, offers a multi-factor approach to weighting and measuring some of the most followed stocks in the Nordics.
The S&P Quality Nordic Index is comprised of the top 30 stocks from the S&P Nordic LargeMidCap Index. Each stock is selected using a "high quality score" that is based on three fundamental measures: return on equity, accruals ratio and financial leverage ratio. Every stock in the S&P Quality Nordic Index is weighted by its quality score and multiplied by its float-adjusted market capitalization.
Vinit Srivastava, Senior Director, Strategy Indices, S&P Dow Jones Indices comments, "We are excited to launch the S&P Quality Nordic Index and expand our factor-based indices in this region which includes the closely followed S&P Low Volatility Nordic Index. We are seeing a steady increase in demand for factor-based indices from our retail and institutional clients in the Nordics, and as a result, will continue to expand our suite of these indices in the region."
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