BSE launches value, quality and two other factor indices with quarterly reconstitution
Asia Index, a BSE subsidiary, launched four new factor-based indices from the BSE 500 universe with quarterly reconstitution. These indices—Value, Low Volatility, Momentum, and Quality—enable smarter passive strategies and benchmarking, supporting India's growing demand for factor investing through a transparent, rules-based framework.
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Asia Index Private, a wholly owned subsidiary of BSE, today announced the launch of 4 new BSE Factor Indices from BSE 500 Index Universe with the introduction of quarterly reconstitution for these factor based Indices for the first time.These Indices have a base value of 1000, and the first value date is June 20, 2005. The constituents are additionally screened for their liquidity profile and are capped at 4%.The growth of India`s Factor Investing is helping bridge the gap with global markets and meet the demand from sophisticated domestic investors looking for factor-based investing approaches.The indices launched today include BSE 500 Enhanced Value 50, BSE 500 Low Volatility 50, BSE 500 Momentum 50, and BSE 500 Quality 50.BSE 500 Enhanced Value 50 measures the performance of the 50 companies in the BSE 500 Index with the most attractive valuations, based on their value scores. BSE 500 Low Volatility 50 measures the performance of the 50 least volatile companies in the BSE 500 Index and the constituents are weighted by their inverse volatility scores.BSE 500 Momentum 50 measures the performance of the 50 companies in the BSE 500 Index that exhibit the most momentum adjusted for volatility, based on their momentum scores. BSE 500 Quality 50 measures the performance of the 50 highest quality companies in BSE 500 Index, based on their quality scores.'We are pleased to announce the launch of four new factor indices expanding our suite of smart beta offerings. These indices are designed to provide market participants with targeted exposure to key investment factors such as value, low volatility, momentum, and quality using a transparent and rules-based approach. The introduction of quarterly reconstitution schedules in our factor indexes will enable factor signals to capture the most recent financial and stock price data,' said Ashutosh Singh, MD and CEO of Asia Index Pvt.These new indices can be used for running passive strategies such as ETFs and Index Funds as well as gauging the performance of various sectors in India. It can also be used for benchmarking PMS strategies, MF schemes and fund portfolios.Investors can now access a broader spectrum of market opportunities, further enriching their investment strategies with this latest addition to BSE's suite of indices.
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