Media Release
Asia Index Private Ltd. launches BSE SENSEX Next 30
Mumbai, August 27, 2024: Asia Index Pvt. Ltd (AIPL), a wholly owned subsidiary of BSE, today launched its new real time index- BSE Sensex Next 30 with the ringing of the bell at BSE’s iconic International Convention Hall.
BSE Sensex Next 30 tracks the performance of the largest companies from the BSE 100 that are beyond BSE SENSEX index companies. The BSE Sensex Next 30 index offers a unique proposition for investment managers and investors looking to benefit from growth of the next set of market leading companies. Investors can now access a broader spectrum of market opportunities, enriching their investment strategies with the latest addition to BSE's suite of indices.
Speaking at the index launch, Ashutosh Singh, MD & CEO Asia Index PVT Ltd said, “BSE Sensex Next 30 will have wide appeal among retail and institutional customers as it scores well on parameters such as liquidity, low impact cost, risk adjusted returns, high vintage of operational excellence, etc. This makes it conducive for running exchange traded funds (ETFs) and index funds for benchmarking of PMS strategies, MF Schemes and fund portfolios.”
Sundararaman Ramamurthy, MD & CEO, BSE Ltd. emphasized that the voice of the customer will remain the key underpinning for product innovation at AIPL just as it has been for everything at BSE. ``This is the first in a series of launches to follow as there are a lot of white spaces that need addressing from asset managers in India and globally,” Mr. Ramamurthy said.
Delivering the keynote address, Nilesh Shah, President and Managing Director at Kotak Asset Management Co. Ltd. said ‘’There is a need for more relevant indices in the capital markets space and we welcome credible institutions like AIPL to work on product innovation so asset managers will have robust options to benchmark against and run passive strategies on.’’
The weight of the 30 stocks in the index is based on their free-float market capitalization. The index has representations from sectors like Financial Services, Consumer Discretionary, Energy, Commodities, Healthcare, Industries, Fast Moving Consumer Goods, Information Technology and Utilities. Additionally, the constituents must have an underlying derivatives contract to be included in the index. The First Value date is June 20, 2014, and the base value is 10,000. It has a USD variant BSE SENSEX Next 30 USD. The index constituents will be reviewed semi-annually and rebalanced on a quarterly basis.
Click here to know more about the index. For any additional queries, clients are requested to reach out to bseindex@bseindia.com.
About ASIA INDEX PRIVATE LIMITED
Asia Index Pvt. Ltd is a wholly owned subsidiary of BSE Ltd, Asia’s oldest stock exchange and home to the iconic SENSEX index – a leading indicator of Indian equity market performance. Asia Index Pvt. Ltd aims to provide a full array of indices to global / domestic investors and calculates, publishes, and maintains a diverse family of indices.
Contact: Jossie Dsouza
Jossie.dsouza@asiaindex.com
About BSE
BSE (formerly Bombay Stock Exchange Ltd.) is Asia’s oldest exchange. BSE has been playing a prominent role in developing the Indian capital market as India’s leading exchange group. BSE is a corporatized and demutualized entity with a broad shareholder base. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
Media Contact
Santanu Chakraborty
022 - 2272 8516
Santanu.Chakraborty@bseindia.com