Asia Index Pvt Ltd (AIPL), a joint venture between S&P Dow Jones Indices LLC and BSE Ltd, on Monday announced the launch of two more indices for investors in Indian market.
The S&P BSE Sensex Futures Index will help investors track the returns generated from investment in the near-month (one month) futures contract on S&P BSE Sensex traded on the BSE.
The index includes a provision for replacement of the index futures contract as it approaches maturity (also referred to as “rolling” or “the roll”).
This replacement occurs over a one-day rolling period every month, which is one business day prior to the expiration of the futures contract.
AIPL also launched the S&P BSE CPSE Index. CPSE refers to Central Public Sector Enterprises and does not include the public sector banks.
The CPSE index is designed to serve as a comprehensive benchmark to help investors track the performance of public sector companies listed on the BSE.
The index comprises CPSEs where the direct holding of the Central Government is 51 per cent or more.
“The launch of the S&P BSE Sensex Futures Index and the S&P BSE CPSE Index is a reflection of Indian investor appetite for transparent and innovative benchmarks measuring the Indian market,” said Alka Banerjee, CEO, Asia Index Pvt Ltd.
Ashish Chauhan, Managing Director & CEO, BSE Ltd, said the launch of these new indices adds to BSE’s repertoire of unique products and deepens the product offerings to the investor community.
“The new indices would provide more avenues to the investors for their benchmarking and investment needs.”
S&P BSE CPSE index is calculated on real time basis, while S&P BSE Sensex Futures index is calculated as of end of day basis.