The index, derived from voters from the BSE 1000 and weighed by exemption market capitalization, has a basic value of 1,000 with the first date of 19 June 2017. It will be reconstituted in half -yearly in June and December.
According to BSE, the index will serve multiple goals, including the implementation of passive investment strategies such as ETFs and index funds, as well as benchmarking of PMS strategies, investment funds and institutional portfolios. With the launch, investors get a new tool to measure and participate in the growth of the Indian hospital sector, which offered the series of sectoral indices offered by the oldest stock market in Asia.
The index will have 15 components and will be reconstituted semi-annual.
The total return (TR) for a period of 1 year is 25.54%, while 21.83% since its foundation.
The top 10 voters per weight include: 1) Fortis Healthcare – 20.91%
2) Max Healthcare Institute – 19.77%
3) Apollo Hospitals Enterprises – 19.52%
4) Krishna Institute of Medical Sciences (KIMS) – 8.67%
5) Aster DM Healthcare – 7.09%
6) Narayana Hrudeayalayas – 5.94%
7) Global Health (Medanta) – 5.56%
8) Rainbow Children’s Medicare – 3.43%
9) Jupiter Life Line Hospitals – 2.89%
10) Global healthcare companies – 1.70%
“This index is ideal for asset managers to increase passive strategies and to use it as a relevant benchmark for active strategies. Also for investors who accept exposure via ETFs, index funds or other active investments linked to the index,” said a BSE press release.
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