Market Indices

A market index is a tool for measuring the value of a prescribed section of the stock, commodity, currency or fixed income markets.  It is computed from the value of selected assets (sometimes a weighted average).  It is a tool used by investors and financial managers to describe the market, and to compare the return on specific investments.  An index is a mathematical construct, so it may not always be able to be invested in directly.

There has been an accelerating trend in recent decades to create passive funds that are based on market indices, known as index or passive funds.  Advocates claim that passive funds routinely beat a large majority of actively managed mutual funds.  Since passive funds attempt to replicate the holdings of an index, they obviate the need for and thus many of the costs of active management. Indices are also a common basis for a related type of investment, the exchange-traded fund or ETF.


S&P/ASX 200

The S&P/ASX 200 is recognized as the institutional investable benchmark in Australia. The index covers approximately 80% of Australian equity market capitalization. Index constituents are drawn from eligible companies listed on the Australian Securities Exchange. The S&P/ASX 200 is a highly liquid and investible index, designed to address investment managers' needs to benchmark against a portfolio characterized by sufficient size and liquidity.


S&P 500

The S&P 500® is widely regarded as the best single gauge of large cap U.S. equities.  There is over USD 5.14 trillion benchmarked to the index, with index assets comprising approximately USD 1.6 trillion of this total. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.


S&P Asia 50

The S&P Asia 50 is an equity index drawn from four major Asian markets - Hong Kong, Singapore, South Korea, and Taiwan. It is designed for investors seeking broad market exposure through an index that is efficient to replicate.


Barclays ComBATS6

The Barclays ComBATS6 Index reflects the performance of a market-neutral alpha strategy that extracts curve risk premium from a fixed basket of commodities based on the Barclays Capital Momentum Alpha Strategy.

The strategy seeks to capture the potential outperformance from going long Barclays Momentum Alpha indices and short the corresponding Nearby index for each commodity in the basket. The index invests into a diversified basket of ten commodities selected and weighted to provide balance across the various sectors.