The Hindu Business Line : IDFC and FTSE launch two infrastructure indices

Setting new benchmarks: Mr P. Chidambaram, Finance Minister, flanked by Mr Deepak Parekh, Chairman, IDFC (left), and Dr Rajiv Lall, MD and CEO, launching the FTSE IDFC India infrastructure index series in New Delhi on Tuesday. –

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New Delhi, July 24 Infrastructure Development Finance Company Limited (IDFC) has partnered with UK-based FTSE Group to launch two infrastructure indices.

Addressing a press conference here on Tuesday, Mr Rajiv Lall, Managing Director, IDFC, said, “The FTSE IDFC India Infrastructure Index Series will be extremely useful to India as well international investors in getting exposure to infrastructure sector through funds and structured products.”

The series comprises two indices – the FTSE IDFC India Infrastructure Index with 63 companies and the FTSE IDFC India Infrastructure 30 Index. The series comprises one tradeable and one benchmark index and would be calculated real-time on end of the day basis.

The top 10 constituents of the series, which will be reviewed twice a year in March and September, carry a total weightage of 73 per cent.

“The series will represent the performance of companies listed on the NSE and BSE and generating majority of their revenue from infrastructure and, is designed to underpin the creation of index tracking funds,” Mr Lall said.

FTSE Group Deputy Chief Executive Officer, Mr Donald Keith, said that few firms were in talks for launching products using the index. “They could be structured products like exchange traded funds and guarantee fund. We expect something to materialise in this regard in the next couple of weeks.”

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