S&P Dow Jones adds two all metals sector indexes to GSCI family

By Tali David

Minneapolis, Aug. 22 - S&P Dow Jones Indices LLC announced the launch of the S&P GSCI All Metals 3 Month Forward and the S&P GSCI All Metals 3 Month Forward Capped Component, expanding its GSCI family.

These indexes are designed to measure the precious and industrial metal commodity markets while seeking to reduce negative roll yield in times of contango, according to a press release.

The indexes use the first nearby contract expirations of the S&P GSCI - moved three months forward from the present date - and weight the metals in proportion to the weightings derived from the S&P GSCI methodology, the release said. The capped component version applies capping according to the ESMA guidelines on UCITS issues.

"These indices provide global market participants with investible benchmarks across both the precious metal and industrial metal commodity markets," S&P Dow Jones vice president Jodie Gunzberg said in the release.

"The indices combine the safe haven characteristics of precious metals with the economically sensitive characteristics of industrial metals."

S&P Dow Jones is part of New York-based McGraw-Hill Cos., a resource for index-based concepts, data and research.

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