Bolsas y Mercados Españoles (BME) and index provider FTSE Group (FTSE) have announced the launch of a new index, the FTSE4Good IBEX. The new index will comprise of shares from socially responsible Spanish companies listed on any of the stock markets managed by BME. It will be available from the first quarter of 2008.
“The FTSE4Good IBEX is the answer from BME to a growing interest shown by Spanish investors in socially responsible investments in Spain," said BME's head of equity Jorge Yzaguirre, BME is keen to promote corporate social responsibility through projects that support socially responsible business practices.”
Selection criteria for the index is based on methodology and transparency. It includes shares from medium/high capitalisation companies that are listed on the Spanish stock market as part of the FTSE4Good index. Such criteria will require a high degree of commitment from potential companies, as they will be asked to meet these requirements before being included. FTSE4Good has become a worldwide reference index for investors interested in identifying socially responsible international companies.
"This initiative from BME falls in line with our strategy to offer new products to the financial community, in this case an index that can be used to design and hedge new structured products such as bonds, deposits, certificates or listed funds (ETFs),” said Yzaguirre. “The liquidity of the shares in the index will be mandatory, since the objective is to use the FTSE4Good Ibex as a reference to link structured products and other investment instruments."
FTSE's EMEA managing director Imogen Dillon told SRP, “FTSE greatly values the joint-venture with BME for the creation of a new and innovative index... The FTSE4Good IBEX will offer investors worldwide a new tool specifically designed to offer support for structured products.”
