GLOBAL- NASDAQ and FTSE Group have launched the new FTSE NASDAQ Index Series, providing tools for investors to benchmark selected aspects of the NASDAQ market.
The FTSE NASDAQ Index Series is comprised of four indices, whose components are selected from the NASDAQ Composite Index and are based on market capitalisation.
The indices are: FTSE NASDAQ 500 - consisting of NASDAQ's largest 500 companies; FTSE NASDAQ Large Cap - consisting of the largest 70% of NASDAQ-listed companies; FTSE NASDAQ Mid Cap - consisting of the next 20% of NASDAQ-listed companies; and FTSE NASDAQ Small Cap - consisting of the smallest 10% of NASDAQ-listed companies.
The indices also create opportunities for the development of innovative investment products, such as index-linked funds, exchange traded funds (ETFs), and derivatives products on different segments of the NASDAQ investment universe.
In a joint statement, NASDAQ executive vice president, John Jacobs, and Mark Makepeace (pictured), chief executive of the FTSE Group, said: By sharing our companies' core skills, we've been able to create a unique and powerful set of tools which access new parts of the NASDAQ market.
“We are confident the indexes will be welcomed by both institutional and retail investment houses, and we anticipate products based on the series will follow.
Recently, a study of the FTSE NASDAQ Index Series showed that the FTSE NASDAQ Small, Mid and Large Cap indices had all outperformed their comparative Russell Growth indices over the last two years.
In addition, the FTSE NASDAQ Small Cap Index had also bettered the S&P500, the Russell 2000 and Dow Jones Wilshire 500 Indexes.
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