Dow Jones Indexes, a leading global index provider, announced modifications to the rules regarding the Oversight Committee for the Dow Jones-AIG Commodity IndexSM (DJ-AIGCISM) .
According to Dow Jones Indexes, a new two tier structure, consisting of both a “Supervisory Committee,” and an “Advisory Committee,” replaces the previous single Oversight Committee. The purpose of this two tier structure is to expand the breadth of input into the decision-making process, while also providing a mechanism for more rapid reaction in the event of any market disruptions or extraordinary changes in market conditions.
The three members of the DJ-AIGCI Supervisory Committee, appointed by Dow Jones Indexes and AIG Financial Products Corp., are:Mr. John Prestbo, Editor and Executive Director, Dow Jones Indexes
Mr. Daniel Raab, Managing Director, AIG Financial Products Corp.
Mr. Christiaen van Lanschot, Managing Director, Banque AIG.
The DJ-AIGCI Advisory Committee currently consists of nine leading figures from the financial and academic communities:
Mr. Mark Anson, CEO, Hermes Pensions Management LTD.
Mr. John Brynjolfsson, Managing Director,
Pacific Investment Management Co. (PIMCO)
Mr. Armin J. Lang, Managing Director, Pioneer Investments
Mr. Robert Leary, Managing Director, AIG Financial Products Corp.
Mr. Christian Pestre, Executive Vice President and Chief Strategist
Caisse de Depot et Placement du Quebec
Mr. Michael A. Petronella, President, Dow Jones Indexes/Ventures
Prof. K. Geert Rouwenhorst, Yale School of Management
Mr. Timothy L. W. Teo, Director,
Government of Singapore Investment Corporation Pte Ltd.
Mr. James Walsh, Chief Investment Officer, Cornell University
According to Dow Jones Indexes, this new structure should further ensure that the DJ-AIGCISM remains a highly liquid benchmark for commodity investment as markets evolve and change over time. The Supervisory Committee will make all final decisions relating to the DJ-AIGCI, given any advice and recommendations of the Advisory Committee, with the main design principles of the Index continuing to be Economic Significance, Diversification, Continuity, and Liquidity.
The Dow Jones-AIG Commodity Index is composed of 19 futures contracts on physical commodities and was introduced in 1998. The DJ-AIGCI family of indexes includes nine sector sub-indexes, multiple forward month indexes, sub-indexes for each individual commodity in the original DJ-AIGCI, Euro-, and Yen-,denominated versions of the Dow Jones-AIG Commodity Index, and the Dow Jones-AIG Commodity Spot IndexSM. Also available are total return versions of each of the excess return indexes and sub-indexes. Currently, there is an estimated $35 billion invested in financial products that track the Dow Jones-AIG Commodity Index on a global basis.
