NEW YORK--(BUSINESS WIRE)--Barclays and Time Inc.’s FORTUNE (NYSE:TIME) announced today they have entered into an exclusive agreement for Barclays to launch a new family of stock indices based on the FORTUNE 500, the annual list of the largest corporations in the United States ranked by revenue.
The FORTUNE 500 companies represent two-thirds of the U.S. GDP with $12 trillion in revenues, $890 billion in profits, $19 trillion in market value and employ 28.2 million people worldwide. See the current list on Fortune.com: http://fortune.com/fortune500
Barclays' new indices provide exposure to the U.S. equity market by tracking the performance of the public companies included in the FORTUNE 500. The index family will include an equal weighted index and other weighting methodologies that will provide alternatives to market capitalization weighted indices. Barclays will initially launch the Barclays FORTUNE 500 Equal Weighted Index in July 2017.
“We are thrilled to announce our agreement with Time Inc. through which Barclays will launch a unique and exciting set of indices based on the FORTUNE 500,” said Dupe Adeyemo, Director in EFS Solutions at Barclays. “The companies that comprise the FORTUNE 500 are some of the strongest, highest revenue generators in the U.S. and we believe that market participants will benefit from exposure to these companies through the investable indices that we are creating.”
“The FORTUNE 500 list has always been a vital way to track the economy and we are pleased that Barclays has recognized the value of the franchise to create a new index,” said Alan Murray, Time Inc. Chief Content Officer and FORTUNE President. “At Time Inc., we are always looking for smart ways to enhance our brands and the Barclays FORTUNE 500 family of indices could not be a more natural extension for our iconic list that investors closely follow.”
Methodology of the FORTUNE 500 list
Companies are ranked by total revenues for their respective fiscal years. Included in the survey are companies that are incorporated in the U.S., operate in the U.S. and file financial statements with a government agency. This includes private companies and cooperatives that file a 10-K or a comparable financial statement with a government agency, and mutual insurance companies that file with state regulators.
Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.
With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 120,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.
For further information about Barclays, please visit our website home.barclays
About Time Inc.
Time Inc. (NYSE:TIME) is a leading multi-platform media company that engages over 170 million consumers globally every month. The company's influential brands include PEOPLE, TIME, FORTUNE, SPORTS ILLUSTRATED, INSTYLE, REAL SIMPLE, SOUTHERN LIVING and TRAVEL + LEISURE, as well as more than 60 diverse international brands. Time Inc. offers marketers a differentiated proposition in the marketplace by combining its powerful brands, trusted content, audience scale, direct relationships with consumers and unique first-party data. The company is home to growing media and platforms, including digital video, OTT, television, licensing, paid products and services and celebrated live events, such as the TIME 100, FORTUNE Most Powerful Women, PEOPLE’s Sexiest Man Alive, SPORTS ILLUSTRATED’s Sportsperson of the Year, the ESSENCE Festival and the FOOD & WINE Classic in Aspen.
Neither Barclays nor FORTUNE can provide any assurances regarding the performance of an index. Investors in any product or counterparties to any transaction based on the performance of any index are urged to consult with their own advisors and read the relevant offering or transaction documentation carefully before making an investment decision.
FORTUNE is a registered trademark of Time Inc. used under license. Time Inc. and FORTUNE are not affiliated with and do not endorse products or services of Barclays Bank Plc. Barclays Bank Plc products are not sponsored, sold or promoted by Time Inc.