NEW YORK--(BUSINESS WIRE)--Indxx LLC is pleased to announce the launch of the Indxx U.S. Infrastructure Development Index (the “Index”). The Index has been licensed to New York-based ETF provider Global X Funds as the underlying benchmark for the Global X U.S. Infrastructure Development ETF (BATS: PAVE), which began trading today.
“Indxx is excited to have once again worked with our partners at Global X to identify a timely and unique theme and effectively target it via an index-based approach,” said Rahul Sen Sharma, Partner at Indxx. “Thematic indices like these involve intensive research into first properly identifying the best way to target the theme, and then thoroughly analyzing potential companies to ensure they qualify for inclusion according to a quantitative, rules-based selection process. We are proud to have utilized our custom research and development capabilities to add to our growing list of indices in this space.”
The Index is a modified market capitalization weighted index designed to measure the performance of companies that provide exposure to infrastructure development in the United States. This includes companies involved in the construction and engineering of infrastructure projects; the production of infrastructure raw materials, composites and products; producers/distributors of heavy construction equipment; and companies engaged in the transportation of infrastructure materials (collectively, “U.S. Infrastructure Development Companies”), as defined by Indxx.
The Index (ticker: IPAVE) was backtested to January 31, 2011 with an original value of 1,000. As of March 1, 2017, the index value was 1,835.15 and included 88 securities. These amounts are subject to change.
Founded in 2005, Indxx seeks to redefine the global indexing space. With offices in New York, London and New Delhi, the firm focuses on Index Development, Index Calculation, Analytics & Research and combines these services in a holistic, customized approach that is unique to the industry and provides maximum benefits to our clients.
For more information about Indxx or the Index, please visit: http://www.indxx.com/