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Impact Investing

IPE special report May 2018

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S&P in ‘Global 100’ launch

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What is claimed to be the first investable stock index of companies with “truly global” businesses has been launched by Standard & Poor’s.
The S&P Global 100 index has been put together in collaboration with the New York Stock Exchange, the Tokyo Stock Exchange and the Deutsche Börse.
Announcing the new index, S&P president Leo O’Neill said that the share performance of these three companies is often affected more by global economic, sectorral and and market conditions than those prevailing in the local market where they are headquartered.
These 100 companies are “actively traded among investors from many countries and derive significant income from outside the country where they are headquartered”, says S&P. Around 70 of the 100 companies in the index are listed in New York, but companies do not have to have their shares listed in Tokyo or Frankfurt.
The three stock exchanges will be in the working group overseeing the index’s composition. In addition, all three expect to launch derivatives and cash products linked the new index.
All companies are already in the S&P Global 1200 Index and changes in the index composition will occur from mergers, takeovers and other corportate activities. The committee will name a replacement, but turnover in the index is expected to be low.

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