Salomon Smith Barney has introduced the Australian Broad Investment Grade Bond Index into its range of global indices as from this month. The index is aimed at institutional investors.
The index is designed to respresent the Australian credit market covering all sectors of the investment-grade fixed income market accessible to local investors. It encompasses 150 issues capitalised at A$146bn (E92.6bn).
Included are fixed coupon, investment grade bonds issued locally or semi-government bonds in the global market meeting a number of criteria, such having a maturity of at least one year, with a minmium BBB-/Baa3 from either Standard & Poor’s or Moody’s.