Solactive AG has launched two new indices, the Solactive Guru International Index and the Solactive Guru Small Cap Index, which are to be used as the underlying indices for two ETFs listed today by Global X Funds on the New York Stock Exchange.
These Indices are part of the same family as the Solactive Guru Index, which was launched in June 2012 and is tracked by the Global X Guru Index ETF (GURU). With over $500 million in assets and having been ranked by Bloomberg as the “Best Niche ETF” in 2013[1], GURU has established itself as one of market’s main ETFs tracking hedge fund strategies.
Henning Kahre, Head of Solactive Equity Team, said: “We hope that these two new indices will be as successful as the first Solactive Guru Index, which has clearly generated substantial interest from the market, adding to the Passive versus Active debate. This is one series of indices among others we are calculating which reflect the market’s evolution toward more dynamic indices, with a strong focus on smart beta.”
The Solactive Guru International Index tracks the price movements of the top U.S. listed international equity holdings of a select group of Hedge Funds and Institutional Investors based on quarterly regulatory filings from the SEC (13F Filings). This Index will be used as an underlying for the Global X Guru International Index ETF (GURI).
The Solactive Guru Small Cap Index tracks the price movements of the top U.S. listed small cap equity holdings of a select group of Hedge Funds and Institutional Investors based on quarterly regulatory filings from the SEC. To be included in the Index, companies must have a market capitalization between USD 100 million and USD 3 billion. This index will be used as an underlying for the Global X Guru Small Cap Index ETF (GURX).
Both Indices are calculated daily, and weighted equally. The Solactive Guru International Index and the Solactive Guru Small Cap Index are total return only and published in USD.
The Indices were launched on 4th March 2014 with an initial value of 100.
For more information on the methodology, please visit the Solactive Guru International Index and the Solactive Guru Small Cap Index webpage.
[1] Bloomberg Media: http://www.bloomberg.com/news/2014-01-03/balchunas-s-choice-for-2013-s-best-niche-etf-audio-.html