Standard & Poor’s, the world’s leading index provider, announced today the launch of a new, real-time index to serve the investment community’s need for an investable benchmark representing the Canadian preferred share universe.
The S&P/TSX Preferred Share Index is comprised of preferred share issues listed on the Toronto Stock Exchange that meet criteria relating to market capitalization, liquidity, and issuer rating. The index will launch in real time on Tues., April 10, 2007. Historical data for attribution purposes has been calculated back to July 2002.
Preferred shares are a class of securities that combines the characteristics of both debt and common equity, while having low correlations to both classes. As such, they represent appropriate instruments for portfolio diversification.
“The S&P/TSX Preferred Share Index is the first index in Canada to focus on preferred shares—a class of securities with distinct and attractive characteristics for investors seeking yield,” said Steve Rive, vice president of Canadian Index Services at Standard & Poor’s.
"We are very pleased with the evolution and growth of investment products being developed for the Canadian market,” said Eric Sinclair, senior vice president at TSX Datalinx. "Indices like this one help enhance and expand visibility to the market for investors. This index provides yet another option for income investors."
About Standard & Poor’s Index Services
Standard & Poor's Index Services, the world’s leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Its family of indices includes the S&P 500, an index with US$1.26 trillion invested and US$4.45 trillion benchmarked, and the S&P Global 1200, a composite index comprised of seven regional and country headline indices. For more information, please visit www.standardandpoors.com/indices .
About Standard & Poor’s
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit www.standardandpoors.com.
