{"id":37038,"date":"2024-09-19T17:24:16","date_gmt":"2024-09-19T11:54:16","guid":{"rendered":"https:\/\/financialtelegraph.in\/index.php\/2024\/09\/19\/indxx-licenses-india-big-5-conglomerates-index-to-korea-investment-management-for-an-etf\/"},"modified":"2024-09-19T17:24:16","modified_gmt":"2024-09-19T11:54:16","slug":"indxx-licenses-india-big-5-conglomerates-index-to-korea-investment-management-for-an-etf","status":"publish","type":"post","link":"https:\/\/financialtelegraph.in\/index.php\/2024\/09\/19\/indxx-licenses-india-big-5-conglomerates-index-to-korea-investment-management-for-an-etf\/","title":{"rendered":"Indxx Licenses India Big 5 Conglomerates Index to Korea Investment Management for an ETF"},"content":{"rendered":"
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\"indxx\"<\/p>\n

New Delhi [India] September 19:<\/strong> <\/span>Indxx, a provider of indexing solutions for exchange traded funds (ETFs), is pleased to announce the licensing of the\u00a0Indxx India Big 5 Conglomerates Index<\/a>\u00a0to Korea Investment Management as the underlying benchmark for the ACE Indian Market Representative BIG5 Group Active ETF (Ticker: 487920), which began trading on the Korea Exchange (KRX) today.<\/p>\n

The Indxx India Big 5 Conglomerates Index is designed to track the performance of India-listed companies that relate to or are subsidiaries of the 5 largest conglomerate businesses in India, as identified by Indxx.<\/p>\n

Rahul Sen Sharma, President, and Co-CEO at Indxx said, \u201cIn January 2024, India achieved a significant milestone by becoming the world\u2019s fourth-largest stock market, boasting a market capitalization exceeding $4 trillion. The country is also set to become the world\u2019s third-largest economy by 2027. With established market positions and robust operational frameworks, India\u2019s conglomerates are integral to its economic landscape, spearheading growth across diverse sectors such as manufacturing, finance, healthcare, and technology. Our Indxx India Big 5 Conglomerates Index offers exposure to these key players shaping India\u2019s economic future and driving its growth. We are thrilled to collaborate with Korea Investment Management to bring this promising investment strategy to the Korean market.\u201d<\/p>\n

Vaibhav Agarwal, Chief Product Officer at Indxx added, \u201cAs major contributors to India\u2019s GDP and employment landscape, conglomerates play a pivotal role in driving economic development. By leveraging in-depth research, the Indxx India Big 5 Conglomerates Index identifies the foremost conglomerates in India, offering a unique and targeted exposure to market leaders in the country.\u201d<\/p>\n

As of September 10, 2024, the index has 20 constituents. The index has been backtested to March 16, 2018, and has a live calculation date of April 30, 2024.<\/p>\n

Founded in 2005, Indxx aims to deliver innovative and custom indexing and calculation solutions to the investment management community at large.<\/p>\n

Indxx and products tracking its indices have been nominated for and received numerous awards, including \u2018Index Provider of the Year\u2019 at the With Intelligence Mutual Fund & ETF Awards 2022 & 2023, \u2018Best Index Provider \u2013 Emerging Markets ETFs\u2019 at the ETF Express US Awards in October 2020, and \u2018Most Innovative ETF Index Provider\u2019 for the Americas at the 14th Annual Global ETF Awards in July 2018.<\/p>\n