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S&P launches S&P Global PowerPicks, S&P Global Mid-Year PowerPicks indexes
By Devika Patel
Knoxville, Tenn., July 9 - Standard & Poor's has launched two new S&P Global PowerPicks indexes designed to provide investors with exposure to the stock recommendations of S&P's equity research services analysts, according to an agency news release.
The indexes are based on S&P's Global Picks model portfolios, which each comprise 30 stocks from the United States, Asia and Europe that S&P's equity research analysts consider to be positioned for superior growth.
Stocks within the portfolios are drawn from a range of sectors, with the indexes providing diversified and global exposure to growth companies.
The S&P Global PowerPicks index will run from January to December, and the S&P Global Mid-Year PowerPicks index will run from July to the following June.
The S&P Global PowerPicks indexes have been designed to be highly liquid and have the potential to be used as a basis for index-linked and structured products.
The agency said the underlying stock selection for the S&P Global PowerPicks indexes are driven by equity analysts, rather than quantitative data. The constituent stocks are equally weighted between three developed market regions and are diversified across all ten economic sectors as defined by the Global Industry Classification Standard.
"The S&P Global PowerPicks indices are entirely unique to S&P. They enable investors to gain access to the stock recommendations of Standard & Poor's equity research services analysts. We believe that they complement Standard & Poor's existing strategy index offering and capitalize on our strengths in both the index and equity research space," S&P index services vice president Tim Eisenhauer said in the release.
S&P is a New York-based credit reporting agency.
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