Products linked to strategy and custom indices have long been a niche but important part of the retail structured products market.
Although equity underlyings (such as benchmark indices or baskets of individual stocks) remain dominant globally, strategy indices provide diversification by combining equities with other asset classes through algorithmic and rules-based approaches. This makes them distinct from passive benchmarks but more suited to structured products than active fund management. Over the past decade custom indices have grown significantly as a means of delivering systematic strategy exposure Over the past