London - Standard & Poor's, the world's leading index provider, today announced the launch of a new investable index for investors seeking access to infrastructure companies operating in some of the world's most vibrant economies. The S&P Emerging Markets Infrastructure Index provides diversified, liquid exposure to 30 of the largest publicly listed infrastructure stocks in developing Asia, Europe, the Middle East and Latin America.
The S&P Emerging Markets Infrastructure Index covers 10 countries at launch with an adjusted market capitalization of $103.28 billion. The index is dominated by companies from China (42.17% weighting), Russia (12.14%) and Brazil (11.55%). The average market capitalization of constituents is $3.4 billion
"Countries in the developing world have been growing at more than double the rate of mature economies in recent years and these high growth rates are likely to persist, with massive implications for infrastructure investment," says Srikant Dash, Head of Global Research & Design at Standard & Poor's Index Services. "A lack of investment in infrastructure is widely acknowledged to act as a brake on social and economic development, and these countries will need to continue to invest in vital projects to underwrite the next phase of their growth. For investors, infrastructure projects appeal due to their relatively predictable and stable cashflows that tend to grow in line with GDP."
To be eligible for inclusion in the S&P Emerging Markets Infrastructure Index, companies must have a total market capitalization of at least US$300 million and a three-month average daily trading value of at least US$1 million. They must trade on the local market exchange of Brazil, Chile, the Czech Republic, Egypt, Hungary, Indonesia, Israel, Malaysia, Mexico, Philippines, Poland, South Africa, South Korea, Taiwan, Thailand or Turkey. Infrastructure firms listed on developed markets are also eligible for inclusion if the majority of their revenues are derived from emerging market operations.
The S&P Emerging Markets Infrastructure Index is the seventh index in the widely used S&P Global Thematic Index Series, which provides exposure to budding investment themes that cut across traditional industry definitions and geographic boundaries.
For more information on Standard & Poor's expanding range of emerging market and thematic indices, including methodology, please visit: www.standardandpoors.com/indices.
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Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.
About Standard & Poor's Index Services
Standard & Poor's Index Services, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Its family of indices includes the S&P 500, an index with $1.3 trillion invested and $4.8 trillion benchmarked, and the S&P Global 1200, a composite index comprised of seven regional and country headline indices. For more information, please visit www.standardandpoors.com/indices.
For more information, please contact:
Matthew McAdam/Mark Tierney
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Standard & Poor's
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David R. Guarino
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Standard & Poor's
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Email: dave_guarino@standardandpoors.com
© Press Release 2007
