- FTSE-SBI India Bonds Index Series to be launched in 2017
- Will provide investors with tools to analyse India’s domestic corporate bond market
FTSE Russell, London Stock Exchange Group’s global index and data provider, today announces that FTSE Russell and State Bank of India (SBI) are working closely to create the FTSE TMX SBI India Index Series. The announcement follows the signing of a letter of intent between the two parties last year. The index series will give market participants from India, the UK and internationally the tools they need to analyse India’s bond market.
The commitment to create this innovative index series demonstrates significant progress in the development of India’s bond market, a priority of the India UK Financial Partnership (UKFP), launched by the Chancellor of the Exchequer and the Indian Finance Minister in July 2014.
Mrs. Arundhati Bhattacharya Chairman of State Bank of India said:
“State Bank of India (SBI), India’s largest Commercial bank, has teamed up with FTSE Russell to launch the FTSE TMX SBI India Bond Index. This index addresses the long felt interest of investors to have a credible benchmark for Indian debt. Launched by FTSE Russell in collaboration with SBI, India’s most active player in the domestic bond market, the index will act as a key enabler for foreign investors looking to invest in Indian debt market and will contribute to accelerating the development and deepening of the Indian bond markets.”
Waqas Samad, CEO of Fixed Income and Multi Asset, FTSE Russell said:
“FTSE Russell has strong relationships across India and we are delighted to be working with SBI to create this new index series for India’s bond market. The launch of a series of indexes that provides investors with the tools to analyse this market represents a significant step in its development. We look forward to working with SBI on this index series and creating innovative index products which can be used to help build investment in India and develop deeper pools of liquidity in the sovereign and corporate bond markets”.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally, with approximately $10 trillion currently benchmarked to FTSE Russell indexes. FTSE Russell ranks in the top 3 fixed income index providers globally. With around 40% of institutional fund AuM currently allocated to fixed income, this is a rapidly expanding area for FTSE Russell offering both global indexes and analytical systems.
London Stock Exchange Group has a long history of working with partners in India and enjoys close collaboration with a number of Indian organisations including National Stock Exchange of India Ltd (NSE). There are currently 44 Indian companies listed in London, with a combined market capitalisation of £142 billion. London has also established itself as the leading centre for off-shore Rupee debt issuance, with 33 Masala bonds listed on London Stock Exchange, raising equivalent to approximately $4 billion.
For further information:
Ed Clark +44 (0)20 7797 1222
Tim Benedict +1 212 314 1220
Hong Kong: Fennie Wong +852 2164 3267
Sydney: Laura McCrackle +61 2 8823 3526
Notes to editors:
FTSE Russell is a leading global provider creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98% of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. More than $15 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on index innovation and customer partnership applying the highest industry standards and embracing the IOSCO Principles. FTSE Russell is wholly owned by the London Stock Exchange Group.
For more information, visit www.ftserussell.com.
FTSE Russell® is a trading name of FTSE, Russell, FTSE TMX and MTS Next Limited. “FTSE®”, “Russell®”, “FTSE Russell®” “MTS®”, “FTSE TMX®”, “FTSE4Good®” and “ICB®” and all other trademarks and service marks used herein (whether registered or unregistered) are trade marks and/or service marks owned or licensed by the applicable member of the LSE Group or their respective licensors and are owned, or used under licence, by FTSE, Russell, MTSNext, or FTSE TMX.
All information is provided for information purposes only. Every effort is made to ensure that all information given in this publication is accurate, but no responsibility or liability can be accepted by any member of the LSE Group nor their respective directors, officers, employees, partners or licensors for any errors or for any loss from use of this publication or any of the information or data contained herein.
No member of the LSE Group nor their respective directors, officers, employees, partners or licensors make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the FTSE Russell Indexes or the fitness or suitability of the Indexes for any particular purpose to which they might be put.
No member of the LSE Group nor their respective directors, officers, employees, partners or licensors provide investment advice and nothing in this communication should be taken as constituting financial or investment advice. No member of the LSE Group nor their respective directors, officers, employees, partners or licensors make any representation regarding the advisability of investing in any asset. A decision to invest in any such asset should not be made in reliance on any information herein. Indexes cannot be invested in directly. Inclusion of an asset in an index is not a recommendation to buy, sell or hold that asset. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.
No part of this information may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of the applicable member of the LSE Group. Use and distribution of the LSE Group index data and the use of their data to create financial products require a licence from FTSE, Russell, FTSE TMX, MTSNext and/or their respective licensors.