New Delhi [India] September 19: Indxx, a provider of indexing solutions for exchange traded funds (ETFs), is pleased to announce the licensing of the Indxx India Super Consumption Index to Korea Investment Management. The Index serves as the underlying benchmark for the ACE Indian Consumer Power Active ETF (Ticker: 487910), which began trading today on the Korea Exchange (KRX).
The Indxx India Super Consumption Index is designed to track the performance of Indian companies that experience exceptionally high demand for their products or services.
Rahul Sen Sharma, President and Co-CEO at Indxx said, “India is on a remarkable economic growth trajectory, registering a GDP growth of 8.2% in FY 2023-24.1 By 2027, the country is projected to become the world’s third-largest economy, surpassing Japan and Germany.2 With a population exceeding 1.4 billion, India recently overtook China as the most populated country in the world.3 The country’s demographic expansion, coupled with a rising middle class, is fueling strong growth through increased demand and consumption. Our Indxx India Super Consumption Index provides access to the evolving landscape of consumer trends and market dynamics in India. We are thrilled to collaborate with Korea Investment Management to bring this innovative strategy to the Korean market.”
Vaibhav Agarwal, Chief Product Officer at Indxx, added, “Our Indxx India Super Consumption Index helps capture leading companies that are catering to the Indian economy’s most promising consumption trends. Backed by ITICS, our cutting-edge thematic classification system, the Index utilizes a revenue-driven approach to identify companies, thus providing a targeted exposure to the underlying theme. With India’s consumption market expected to experience significant expansion, this index offers a unique opportunity to tap into the country’s dynamic consumer landscape.”
As of September 10, 2024, the index has 20 constituents. The index has been back tested to March 15, 2019, and has a live calculation date of June 11, 2024.
Founded in 2005, Indxx aims to deliver innovative and custom indexing and calculation solutions to the investment management community at large.
Indxx and products tracking its indices have been nominated for and received numerous awards, including ‘Index Provider of the Year' at the With Intelligence Mutual Fund & ETF Awards 2022 & 2023, ‘Best Index Provider – Emerging Markets ETFs' at the ETF Express US Awards in October 2020, and ‘Most Innovative ETF Index Provider Americas' at the 14th Annual Global ETF Awards in July 2018.
For more information about Indxx, please visit: indxx.com
For more information about this announcement, please contact: marketing@indxx.com
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