S&P Dow Jones announces launch of new S&P Colombia Select index

By Tali Rackner

Norfolk, Va., May 7 - S&P Dow Jones Indices announced the launch of the S&P Colombia Select Index, according to a press release.

The index is designed to provide investors with a means of measuring the largest and most liquid stocks domiciled in Colombia. It uses a modified market capitalization weighting scheme, providing investors with a broad, yet replicable index covering the Colombian equity market, the release said.

"S&P Dow Jones Indices is excited to bring its world renowned skill in developing transparent, strongly governed and representative stock market indices to Colombian investors," managing director and head of global equity indexes Alka Banerjee said in the release.

"The S&P Colombia Select index employs many of the traits commonly associated with our leading indices. It also provides investors with a means of measuring the largest and most liquid stocks headquartered in Colombia while reducing single stock and sector concentration within the index."

S&P Dow Jones Indices has licensed the S&P Colombia Select Index to an affiliate of Horizons ETFs Management (Latam) LLC to serve as the basis for a forthcoming exchange traded fund based upon the index.

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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