New index from FTSE
Global index provider FTSE Group has announced the launch of the FTSE Cyclical and Defensive Index Series.
The company said the index series aimed to offer contrasting degrees of sensitivity to the economic cycle in order to improve the transparency of market dynamics.
"The FTSE Cyclical Index Series is designed to be sensitive to the economic cycle, whilst the FTSE Defensive Index is designed to be relatively insensitive, thereby providing a mechanism for investors to implement an informed economic view.
The index series spans global, regional and single-country indices," the company said.
It said the index series used the Industry Classification Benchmark (ICB) of sub-sectors in order to classify sub-sectors as defensive or cyclical.
The indices are available on a real time and end-of-day basis and are managed in accordance with FTSE's leading standards of index design, which emphasise transparency, independence, innovation and strong governance, according to FTSE Group.
Announcing the move, FTSE Group research and analytics managing director Peter Gunthorp said the product was aimed at facilitating the analysis of market dynamics and enabling the development of new investible products that expand investor choice."
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