Dow Jones Indexes has launched three sub-indices of the Dow Jones-AIG Commodity Indexes for platinum, lead and tin.
Dow Jones Indexes has launched three sub-indices of the Dow Jones-AIG Commodity Indexes for platinum, lead and tin. Dow Jones Indexes jointly markets the DJ-AIG indices with AIG Financial Products, a wholly-owned subsidiary of insurer American International Group.
The new single commodity sub-indices have been licensed to ETF Securities, a London-based provider of exchange-traded commodities, along with the existing Dow Jones-AIG Cocoa Sub-Index. The four new ETCs have been listed on the.
The new single commodity sub-indices are constructed according to the rules of the DJ-AIG Commodity Index and join 20 existing sub-indices for aluminum, coffee, copper, corn, cotton, crude oil, gold, heating oil, lean hogs, live cattle, natural gas, nickel, silver, soybeans, soybean oil, sugar, unleaded gasoline, wheat, zinc and cocoa.
While platinum, lead and tin are eligible for the DJ-AIG Commodity Index, they currently are not included in the index, since they do not reach the minimum weight (a combination of futures trading volume and global production) required for inclusion. Excess and total return versions of all 23 sub-indices are available.
Launched in 1998, the DJ-AIG Commodity Index is a diversified and highly liquid benchmark for the commodities markets composed of futures contracts on 19 physical commodities. The main index and related sub-indices are calculated daily by Dow Jones Indexes and AIG Financial Products.
At the end of last year, an estimated USD42bn was invested in financial products tracking the main index and sub-indices, out of a total of some USD155bn tracking commodities using long-only index strategies.
As of March 12, the one-year performance for the Platinum Sub-Index was 66.20 per cent, with 67.93 per cent for the Lead Sub-Index, 39.99 per cent for the Tin Sub-Index and 43.46 per cent for the Cocoa Sub-Index.
Best known for the Dow Jones Industrial Average, Dow Jones Indexes is also co-owner of the Dow Jones Stoxx indices and together with Wilshire Associates it provides the Dow Jones Wilshire Global Index family, which is anchored by the Dow Jones Wilshire 5000 and covers more than 12,000 securities in 59 markets. Dow Jones Indexes also maintains various alternative indices, including measures of the hedge fund and commodity markets.
