Solactive launches Global Technology Leaders Index
Solactive is pleased to announce the release of its Solactive Global Technology Leaders Index. It tracks the performance of both globally leading technology companies and businesses not necessarily labeled as traditional tech firms by a common sector classification system, but whose disruptive potential made them market incumbents that set significant impulses for the entire technology industry. This, in particular, refers to, but is not limited to, global companies engaged in technology-related themes such as Cyber-Security, the Internet of Things, E-Commerce, Robotics & Automation, Artificial Intelligence, Autonomous Vehicles, and Cloud/Big Data.
With the release of the Solactive Global Technology Leaders Index, Solactive contributes to an industry-wide trend intending to provide financial indices that are expected to outperform pure benchmark indices by focusing on specific market sectors and investment themes.
The Solactive Global Technology Leaders Index utilizes the Solactive GBS Developed Markets Large & Mid Cap Index as the initial universe. From this starting point, a proprietary selection procedure accounts for the individual eligibility of each index constituent. Furthermore, in order to ensure adequate liquidity, companies are required to possess a free float market capitalization of at least CAD 1 billion on each Selection Day.
“We are living in a world in which a company does not have to be a dedicated tech company to transform or influence complete tech businesses,” explains Timo Pfeiffer, Head of Research at Solactive. “Amazon, for example, is classified as an online retailer, but, since its establishment, became a player that has set the foundation pillar for e-commerce and therefore created a whole new market for tech companies around it. The Solactive Global Technology Leaders Index includes, among others, those figureheads that significantly point the way ahead.”
The Index constituents are weighted according to their free float market capitalization.