GLOBAL - Rating agency Standard & Poor's has launched the S&P1000 index for mid cap, and small cap stocks as part of its US suite.
The index is a combination of the existing S&P MidCap 400 and S&P SmallCap 600 Indices and represents $1.2trn of investable and liquid mid cap and small cap firms. Combined with the S&P 500, the offering makes up the S&P SuperComposite 1500 Index.
Pension fund consultants who favour broader representation welcomed the index, according to S&P.
The S&P 1000 represents 10.46% of the market cap of the S&P SuperComposite 1500. Moer than $31bn are indexed to the S&P MidCap 400 and more than $12bn on the S&P SmallCap 600.
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