S&P Indices launches five new Select Industry indexes; sixth to come

By Toni Weeks

San Diego, Sept. 12 - S&P Indices has launched five new Select Industry indexes, according to a press release.

The S&P Select Industry indexes are designed to measure the performance of various narrow Global Industry Classification Standards sub-industries and currently include 25 indexes spanning 10 GICS sectors.

The five new indexes are the S&P Banks Select Industry index, the S&P Capital Markets Select Industry index, the S&P Insurance Select Industry index, the S&P Mortgage Finance Select Industry index and the S&P Regional Banks Select Industry index.

The constituent stocks for the five new indexes are all members of the S&P Total Market index, which includes all common stocks listed on the NYSE and Nasdaq exchanges. Each index in the series consists of at least 35 liquid securities representing a concentrated industry.

The S&P Banks Select Industry index's constituents are drawn mostly from the commercial banking industry and are required to have an outstanding market capitalization of at least $2 billion.

Drawn from the capital markets industry, the S&P Capital Markets Select Industry index's constituents include asset managers, investment banks and brokers.

The S&P Insurance Select Industry index's constituents are selected from the insurance industry and include life, health, and property and casualty insurers as well as insurance brokers.

Selected insurance companies and homebuilders are included in the S&P Mortgage Finance Select Industry index, which draws its constituents from the thrifts and mortgage finance industry.

The S&P Regional Banks Select Industry index's constituents are drawn from the regional banks sub-industry.

The company plans to launch a sixth Select Industry index, the S&P Software and Services Select Industry index, later this month.

New York-based S&P Indices provides investable and benchmark indexes.

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