AMERICAS- S&P Indices has launched its first in a series of indices designed to measure the performance of the Chilean, Columbian and Peruvian stock exchanges.
The index will assess the returns from large liquid stocks trading on the Mercado Integrado Latino Americano (MILA Integrated Market) platform created by the Chile, Colombia and Peru stock exchanges.
S&P said the agreement between MILA and S&P Indices would result in the development of additional, broad-market and sector indices intended to capture the performance of stocks offered in the three MILA countries. S&P MILA 40 is a rules-based index that aims to provide investors with an easily replicable, yet representative benchmark of these three markets, which represent the region's most liquid and investable markets, the firm added.
S&P Indices vice president of global equity indices Alka Banerjee said: "Equities from the Andean nations have been among the best performing stocks in all emerging markets. The S&P MILA 40 has been designed to provide local and international investors alike with a sound benchmark by which to judge and follow their investments in this important region of the world."
Bolsa de Valores de Lima (BVL) manager Francis Stenning added: "The launch of the S&P MILA 40 and our agreement with S&P Indices will allow the three stock exchanges representing MILA to have a broader international presence. The creation of this index will highlight the performance of the Peruvian stocks, as well as Bolsa de Valores de Lima, and will attract international investments through potential structured products linked to the S&P MILA 40 and other indices that will be developed under this family."
At launch, the S&P MILA 40 includes 22 companies from Chile, 12 from Colombia and six from Peru.
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