UK – Dow Jones has announced that it will launch the Dow Jones UK Titans 50 Index based on UK blue-chip companies on June 12.
The index, containing 50 of the largest and most liquid blue-chip stocks in the UK, will be calculated in Sterling and US Dollars and is free-float, market capitalisation weighted.
The group expects to announce licensees for the new index in the coming months.
Michael Petronella, managing director of Dow Jones Indexes, comments: “The Dow Jones UK Titans 50 Index offers much lower costs for managers and investors looking to track the UK blue-chip equities market.”
As of March 30 this year, the free-float adjusted market capitalisation of the new index was £1trn, equal to 71.2% of the market cap of the firm’s UK Total Market Index.
Weightings in the index are capped to prevent dominance by any individual company.