NEW YORK, May 16, 2013 /PRNewswire/ -- S&P Dow
Jones Indices announced today the launch of the S&P MILA Sector
Indices. The indices are designed to measure the primary sectors
represented in the regional equity market. Currently, the S&P
MILA Sector Indices include the S&P MILA Financials and S&P
MILA Resources which are based on GICS® sub-industries classified
under the Financials sector and Energy, Materials, and Consumer
Staples sectors. Constituents for the S&P MILA Sector Indices
must be trading on the MILA platform and meet all eligibility
requirements.
The S&P MILA Sector Indices are part of S&P Dow Jones
Indices' family of MILA indices. The S&P MILA 40 Index,
launched in 2011, was the first in a series of indices for
Latin America's second-largest
market. The Index gauges the returns of the largest and most liquid
stocks trading on the Mercado Integrado Latinoamericano (MILA)
platform, an integrated trading venture formed by the Chile, Colombia and Peru stock exchanges.
Alka Banerjee, Managing Director
of Global Equity Indices at S&P Dow Jones Indices, said:
"Because of the scale of their growth and development in recent
years, the Andean equity markets have emerged as a distinct region
for market participants looking beyond the largest emerging
markets. The S&P MILA Sector Indices provide additional tools
for measuring the key sectors driving the regional equity
market."
Francis Stenning, Lima Stock
Exchange CEO, stated: "This is a very important step towards the
consolidation of a rising market such as MILA. It will provide
local foreign investors a clear vision of our most dynamic and
profitable sectors, with the quality and objectivity of S&P Dow
Jones Indices. Additionally, it will be interesting to track the
performance of our most representative sectors, see how they
complement themselves, and allow us to build around them more
investment instruments."
Juan Pablo Cordoba president of
the Bolsa de Valores de Colombia,
noted: "We believe that these tools are very important because they
allow us to monitor the behavior of the most representative sectors
of a diversified market such as MILA to which Chile, Peru
and Colombia belong to. This index
definitely makes investors gain better access to the opportunities
offered by this regional market integration."
Jose Antonio Martínez, Chief Executive Officer of the Santiago
Stock Exchange, says: "MILA has been a market that has positively
contributed to the development of the countries that are members,
strengthening its position in the region and achieving an
attraction pole for local and foreign investors. During the year
2012, the S&P MILA 40 Index, which brings together the 40 most
representatives shares of the three markets, reported an increase
of 17.29%. The MILA countries market capitalization reached
$772,432 million in January 2013, with a total number of 551
issuers."
The underlying universe for the S&P MILA Indices is all
stocks in the S&P Global BMI that trade on the MILA platform as
domestic stocks. In the case of the S&P MILA sector indices,
stocks must also meet specific GICS sub-industry
classifications.
For the complete methodology, please visit: www.spdji.com.
About S&P Dow Jones Indices
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www.spdji.com.
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SOURCE S&P Dow Jones Indices