September 14, 2024 – Indxx, a provider of indexing solutions for exchange traded funds (ETFs), is pleased to announce the licensing of the Indxx India Big 5 Conglomerates Index to Korea Investment Management as the underlying benchmark for the ACE Indian Market Representative BIG5 Group Active ETF (Ticker: 487920), which began trading on the Korea Exchange (KRX) today.
The Indxx India Big 5 Conglomerates Index is designed to track the performance of India-listed companies that relate to or are subsidiaries of the 5 largest conglomerate businesses in India, as identified by Indxx.
Rahul Sen Sharma, President, and Co-CEO at Indxx said, “In January 2024, India achieved a significant milestone by becoming the world’s fourth-largest stock market, boasting a market capitalization exceeding $4 trillion.1 The country is also set to become the world’s third-largest economy by 2027.2 With established market positions and robust operational frameworks, India’s conglomerates are integral to its economic landscape, spearheading growth across diverse sectors such as manufacturing, finance, healthcare, and technology. Our Indxx India Big 5 Conglomerates Index offers exposure to these key players shaping India’s economic future and driving its growth. We are thrilled to collaborate with Korea Investment Management to bring this promising investment strategy to the Korean market.”
Vaibhav Agarwal, Chief Product Officer at Indxx added, “As major contributors to India’s GDP and employment landscape, conglomerates play a pivotal role in driving economic development. By leveraging in-depth research, the Indxx India Big 5 Conglomerates Index identifies the foremost conglomerates in India, offering a unique and targeted exposure to market leaders in the country.”