S&P Indices has launched the S&P Global Oil Index, a tradeable benchmark designed to measure the performance of the world’s top petrochemicals and energy companies. The Index has been licenced to China-based Hua An Fund Management, which manages USD12 billionclient assets, to create an open-end fund that will be listed on the Shenzhen Stock Exchange.
Part of the S&P Thematic Index series, the S&P Global Oil Index provides broad exposure across a range of business types involved in a variety of oil and gas sectors, including: drilling, equipment and services, exploration and production, refining and marketing, storage and transportation, and integrated groups. Both developed and emerging market constituents are eligible for inclusion in the Index.
Richard Xu, fund manager at Hua An Fund Management says, “According to the latest figure from IEA, emerging market countries now represent more than 60 percent of oil demand growth and over 50 percent of China and India’s oil consumption depends on import. Through this product we are preparing to launch, Chinese investors and consumers alike will have an effective way to invest in the long-term theme of growing oil exploration, production and oil consumption.”
