S&P/TSX Composite Equal Weight Index launches in Canadian market

By Ashley Montgomery

Kansas City, Kan., Oct. 28 - S&P Indices and TMX Group introduced an equal weight S&P/TSX Composite Index for the Canadian market, according to a joint news release.

"The S&P/TSX Composite Equal Weight Index is designed to meet clients' needs for benchmarking strategies that require a size-neutral index compatible with the S&P/TSX Composite Index. An equally weighted index provides investors with a tool that will enable size, style, and sector comparison," said Abigail Etches, director at S&P Indices, in a news release.

The new index will be the "headline index" in the S&P/TSX Equal Weight index family.

The new index generally has a higher exposure to sectors with small companies than the S&P/TSX Composite Index, the release said.

TMX Group operates the Toronto Stock Exchange and Montreal Exchange. Standard & Poor's is an index provider based in New York.

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