Atherstone Capital launches new market indices for BRIC nations

14 February 2008

Mumbai: Atherstone Capital Markets Ltd today announced the launch of a new set of indices that would track the performance of initial public offers (IPOs) and of major sectors in the four BRIC countries - Brazil, Russia, India and China.

The BRIC Index will help global institutional investors take effective investment decision in emerging capital markets, Atherstone Capital Markets said.

Atherstone is the first South Asian investment bank to launch a BRIC Index.

The IPOs will be segregated on the basis of market capitalisation and there will be one index each for large and mid-cap IPOs, chief investment officer Gurunath Mudlapur said.

The large cap index will include companies with a market cap of over $100 million, while the mid-cap index will have companies with an average market cap of $25-100 million, he said, adding that the company would assess performance of the companies for 6 months.

Atherstone also launched three sectoral indices, namely, Atherstone BRIC Oil & Gas Index, Atherstone BRIC Power Index and Atherstone BRIC Bankex.