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Solactive launches USD and EUR high yield bond benchmarks


Following the launch of the Solactive Euro IG Corporate Index tracking the performance of the EUR-denominated investment grade bond market, Solactive has launched two new fixed income benchmarks, the Solactive Euro HY Corporate Index and the Solactive USD High Yield Corporate Index.

These benchmarks are designed to provide a snapshot of non-investment grade bond markets denominated in EUR and USD, respectively.
The company’s branded benchmarks have until now focused on the investment grade space.
Astrid Ludwig (pictured), head of indexing, Solactive AG, says: “The incorporation of benchmarks into our business model aims at broadening the range of index products offered, thus responding to the needs of a wider customer base looking for aggressive pricing on broad market indices covering the fixed-income asset class. As shown by our previous benchmarks launches, Solactive can effectively capitalise on its indexing infrastructure and operations to provide cost-efficient benchmarking solutions.”
The Solactive Euro HY Corporate Index and the Solactive USD High Yield Corporate Index are composed of corporate debt issued in developed and developing markets. Both indices are total return indices and are rebalanced monthly.
All index components have a rating that is sub investment grade and the amount outstanding must be at least EUR150 million and USD400 million, respectively.
The EUR index is based on 1,000 at the close of trading on 29 December 2006. The USD index is based on 1,000 at the close of trading on 31 January 2005.

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