S&P Indices Launches Five New Select Industry Indices

Sep 12, 2011, 09:30 ET from Standard & Poor's

NEW YORK, Sept. 12, 2011 /PRNewswire/ -- S&P Indices announced today the launch of five new Select Industry Indices. The S&P Select Industry Indices are designed to measure the performance of various narrow Global Industry Classification Standard (GICS®) sub-industries. The index series currently includes 25 indices spanning the 10 GICS sectors.

Constituent stocks for the five new indices are members of the S&P Total Market Index (S&P TMI), which includes all common equities listed on the NYSE (including NYSE Arca and NYSE Amex) and the NASDAQ U.S. exchanges (which includes the NASDAQ Global Select Market, the NASDAQ Global Market and the NASDAQ Capital Market). Each index in the series comprises a minimum of 35 liquid securities, providing an investable portfolio representing a concentrated industry.

The five new indices are:

  • S&P Banks Select Industry Index: constituents are drawn largely from the Commercial Banking industry and are required to have an outstanding market capitalization of at least $2 billion.
  • S&P Capital Markets Select Industry Index: constituents are drawn from the Capital Markets industry and include asset managers, investment banks, and brokers.
  • S&P Insurance Select Industry Index: constituents are drawn from the Insurance industry, including life, health, and property & casualty insurers, as well as insurance brokers.
  • S&P Mortgage Finance Select Industry Index: constituents are drawn principally from the Thrifts & Mortgage Finance industry. Selected insurance companies and homebuilders are also included.
  • S&P Regional Banks Select Industry Index: constituents are drawn from the Regional Banks sub-industry.

Additionally, S&P Indices intends to launch a sixth Select Industry Index, the S&P Software & Services Select Industry Index, later this month.

"Investors are increasingly looking for greater diversification options within their investment portfolios with a growing focus on targeted, industry exposure," says Craig Lazzara, Vice President of U.S. Equity Indices at S&P Indices.

For more information, please visit: www.standardandpoors.com/indices.

About S&P Indices

S&P Indices, a world leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Over $1.25 trillion is directly indexed to Standard & Poor's family of indices, which includes the S&P 500, the world's most followed stock market index, the S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, the S&P Global BMI, an index with approximately 11,000 constituents, the S&P GSCI, the industry's most closely watched commodities index, and the S&P National AMT-Free Municipal Bond Index, the premier investable index for U.S. municipal bonds. For more information, please visit www.standardandpoors.com/indices.

Standard & Poor's does not sponsor, endorse, sell or promote any S&P index-based investment product. This document does not constitute an offer of services in jurisdictions where Standard & Poor's or its affiliates do not have the necessary licenses. Standard & Poor's receives compensation in connection with licensing its indices to third parties.

SOURCE Standard & Poor's