S&P Dow Jones Indices (“S&P DJI”) and B3, the company resulting from the combination of BM&FBOVESPA, and CETIP have launched S&P/BOVESPA Non-State Owned Enterprises Index.
The index represents the most liquid stocks trading on the Brazilian Stock Exchange that are not controlled, directly or indirectly, by public entities, municipalities or states of the Federal District.
“The launch of the S&P/BOVESPA Non-State Owned Enterprises Index is part of our strategy to develop markets and to broaden the portfolio of products that are important points of reference for investors,” said B3’s Client and Business Development and International Relations Managing Director, Claudio Jacob.
Index constituents must be listed for a minimum of three months, have traded at least 95% of trading days and have a minimum average daily value traded (MDVT) of 10 million reais for this time period. The index is rebalanced annually in September.
“The S&P/BOVESPA Non-State Owned Enterprises Index is designed to provide global market participants the opportunity to access the Brazilian market using an innovative perspective,” said Silvia Kitchener, product manager at S&P Dow Jones Indices. “For the first time, the marketplace is able to measure the independently-operated and publicly-traded companies at the forefront of Brazil’s economy.”