S&P Dow Jones launches new S&P Europe 350 Equal Weight index

By Tali Rackner

Norfolk, Va., Feb. 12 - S&P Dow Jones Indices launched the S&P Europe 350 Equal Weight index, according to a press release.

The index is designed to equally measure the performance of the 350 leading blue-chip companies that comprise the S&P Europe 350. The S&P Europe 350 is an equity index drawn from 17 major European markets, and it is meant to provide investors with a tradable and easily replicable snapshot of investable Europe.

"Despite its simplicity, equal-weighting remains one of the most popular forms of alternative weighting," associate director of global equity indexes Michael Orzano said in the release. "The S&P Europe 350 EWI allows investors to measure the European equity markets while substantially reducing the contribution of the largest companies."

Earlier this month, S&P Dow Jones Indices launched the S&P Europe 350 Low Volatility High Dividend index, which is designed to calculate the performance of 50 companies within the S&P Europe 350. The company said both indexes were developed in response to the market's growing demand for non-market capitalization weighted versions of the S&P Europe 350.

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