FTSE Group (“FTSE”), the award winning global index provider, and Dubai International Financial Centre Investments (DIFCI), through its wholly owned subsidiary Global Commodity Finance, together with Merit Commodity Partners AG, today announced the launch of the FTSE Physical Industrial Metals Index Series (PIMI). This index series is the world’s first investible, Shariah compliant physical industrial metals index series, providing investors with a means of researching, benchmarking, and managing exposure to some of the world’s most widely used industrial metals.
The FTSE Physical Industrial Metals Index Series is launched against a backdrop of growing investor interest in the metals asset class as continued emerging market development and government investment in infrastructure fuels global consumption. The FTSE Physical Industrial Metals Index Series comprises four individual indices, covering aluminium, copper, zinc and nickel, as well as a benchmark index containing all four metals, giving investors the flexibility to tailor their metals exposure in accordance with investment objectives.
The FTSE Physical Industrial Metals Index Series provides investors with tools to hedge against future supply constraints and which provide the security and reassurance of physical asset ownership. Additionally, the index series has been designed to expand the range of investment and diversification opportunities open to investors who are seeking Shariah compliant products, and provide a liquid, transparent solution for investors who wish to gain industrial metals exposure.
“FTSE has a strong pedigree in creating investment solutions for global investors, offering exposure to a broad range of asset classes,” said Jonathan Cooper, Managing Director, Middle East & Africa at FTSE. “We are delighted to be able to offer this innovative index series which creates new Shariah-compliant investment opportunities in commodities, a fast-growing asset class. This new index series provides a transparent tool for organisations wishing to reduce the costs and complexity involved in maintaining a long term industrial metals exposure.”
Abdulla Mohammed Al Awar, CEO of the DIFC Authority said: "The launch of the FTSE Physical Industrial Metals Index Series comes at an opportune time and will present new avenues for investors looking to access this exciting asset class. DIFC is an advocate and supporter of innovation and we believe this type of product which will ignite the interest of investors around the world and attract investment into the region.”
Shahli Akram, Managing Director DIFCI: “DIFCI through its wholly owned subsidiary GCF is pleased to partner with FTSE in this initiative. We believe that this innovative product would enable a wide spectrum of global investors to better manage the growing complex exposure to the physical metal asset class.”
Eric Kolts, Head of Global Marketing and Sales for Merit Commodity Partners AG, “The FTSE Physical Industrial Metals Index Series will provide investors who wish to manage their exposure to the price or supply of industrial metals a whole new range of investment opportunities”
The FTSE Physical Industrial Metals Index Series has been developed with Global Commodity Finance, a wholly owned subsidiary of Dubai International Financial Centre Investments (DIFCI) and will be co-managed with Merit Commodity Partners AG, a specialist commodity advisory and investment management firm based in Switzerland.
More information about the FTSE Physical Industrial Metals Index Series is available at www.ftse.com/Indices/FTSE_Physical_Industrial_Metals_Index_Series/index.jsp