Standard & Poor’s launched 15 new indices Monday, designed to measure the performance of a narrow Global Industry Classification Standard, it says.
The new indices bring S&P’s number in the series to 18 with a minimum of 21 stocks.
Each S&P Select Industry index consists of, S&P says, constituents in a particular GICS sub-industry and that represent at least 90% of the float adjusted market capitalization of the GICS sub-industry or group of sub-industries.
They must also have a liquidity ratio greater than 30%.