S&P Dow Jones Indices and TMX Group Ltd. Thursday announced the launch of the S&P/TSX High Income Energy Index.
The new index has been licensed by S&P Dow Jones Indices to Guggenheim Investments for an exchange traded fund listed on the New York Stock Exchange.
The new index is designed to measure income producing securities with specific exposure to the Energy sector. The index includes the constituent stocks of the S&P/TSX Composite Index that are classified as Energy companies according to the Global Industry Classification Standard, that also meet specific yield requirements.
“Investors are increasingly looking for unique indices that benchmark specific market segments to serve as the basis for investment products. The S&P/TSX High Income Energy Index offers market participants an effective means of measuring high dividend yielding securities in the Canadian Energy sector,” says Abigail Etches, director at S&P Dow Jones Indices.
S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world’s largest, global resource for index-based concepts, data and research.
The operating subsidiaries of TMX Group (TSX:X) include Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corp., Natural Gas Exchange, among others.