June 4, 2019 / 11:27 PM / 12 days ago

S&P Dow Jones Indices and NZX introduce geographic revenue exposure indices

(Reuters) - S&P Dow Jones Indices and New Zealand’s exchange operator NZX Ltd on Wednesday launched two new indices that will track firms based on their geographic revenue exposure, the companies said in a joint statement.

The S&P/NZX 50 New Zealand Revenue Exposure Index will follow the performance of companies in the S&P/NZX 50 that have above-average revenue exposures to New Zealand.

Likewise, the S&P/NZX 50 Foreign Revenue Exposure Index will track the performance of companies that have higher-than-average revenue exposures to regions outside New Zealand.

“These new indices, based on revenue exposures and launched with New Zealand’s exchange, help investors gain meaningful insight into the New Zealand equity market,” Michael Orzano, Senior Director, Global Equity Indices at S&P Dow Jones Indices said in the statement.

NZX, which has been making strategic changes to draw more liquidity and new listings, said in October it would move to a single equity board from July 1, 2019 after its two junior equity markets failed to attract companies.

The exchange operator and the country’s financial regulator in January also began a review of its capital markets in a bid to rekindle interest in equity listings.

Reporting by Aditya Soni in Bengaluru; editing by Richard Pullin

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