ASX launches S&P/ASX All Technology Index

Maria Nikolova

The new index captures ASX-listed companies in the fast-growing technology sector.

ASX, in partnership with S&P Dow Jones Indices (S&PDJI), today launches the S&P/ASX All Technology Index (All Tech Index), ahead of its go-live on February 24, 2020. The new index includes ASX-listed companies in the fast-growing technology sector.

The All Tech Index operates under an S&PDJI methodology. All ASX-listed companies that meet the eligibility criteria are included in the index at rebalance which is quarterly. At launch on February 24, 2020, this comprises 46 companies.

The index is designed to capture companies that are yet to qualify for the S&P/ASX 300 and from industry segments outside the existing information technology sector as defined by GICS (Global Industry Classification Standard). The GICS categories eligible for inclusion are:

  • Information Technology Sector;
  • Consumer Electronics Subindustry;
  • Internet & Direct Marketing Retail Subindustry;
  • Interactive Media & Services Subindustry, and
  • Health Care Technology Subindustry.

The criteria below are also designed to ensure the investability of the index by setting capitalisation and liquidity standards and capping participation by any one company at 25%.

ASX CEO and Managing Director, Dominic Stevens, explains that the All Tech Index will enhance the profile and understanding of listed technology companies in Australia, and increase opportunities for investors.

“We’ve seen tremendous growth in the number of technology companies listing on ASX and the quality of their performance recently. Over the last three years, the annualised total return from the S&P/ASX 200 has been around 10 per cent, while the return from the new All Tech Index over the same period—if it had existed— would have been over 20 per cent,” Mr Stevens said.

Read this next

Retail FX

Midas raises $45 million to expand brokerage beyond Turkey

Midas has raised $45 million in equity funding to expand and roll out three new products: cryptocurrency trading, mutual funds, and savings accounts.

Institutional FX

Appital launches liquidity creation functionality for buyside

“In today’s fragmented market, the likelihood of having natural market contras at size, in multiple days ADV, which also match price ambitions, is incredibly unlikely. What’s more, matching technology alone is no longer enough.”

Crypto Insider

Shiba Inu Secures $12 Million Investment to Advance its Blockchain Technology and Expand Global Ecosystem

Shiba Inu, an expansive digital assets ecosystem constructed on the Ethereum blockchain, featuring the globally recognized cryptocurrency $SHIB, today proudly announced securing a $12 million investment.

Retail FX

99.81% of NAGA shareholders approve merger with CAPEX.com

“Securing this vote will allow us, after the regulatory approvals for the merger, to execute the new business plan. We are expanding the global reach of NAGA and upgrading the SuperApp to offer a true all-in-one user experience, unique in the world of Fintech.”

Market News

Chinese Insurance Giant Leads Market in Face of US Tech Slump

Chinese insurer China Pacific Insurance has emerged as a standout performer amidst the recent flurry of activity in the Asia Pacific markets, capturing the attention of investors and traders alike.

Retail FX

Public strikes deal to acquire Stocktwits

“After launching bonds, a high-yield cash account, and options trading, Public’s platform has earned the right to be the primary brokerage platform for many investors, and we look forward to offering the full breadth of our platform to Stocktwits customers.”

blockdag

BlockDAG’s Impressive 30,000x ROI Potential and Moon-Based Keynote Captivate Solana And Bitcoin Cash Crypto Investors

Discover BlockDAG’s impressive moon keynote launch and its promise of a 30,000x ROI that is drawing investors from Solana and Bitcoin Cash.

Market News

This is it, the USD Strength has Come to an End

In the aftermath of Israel’s retaliatory strikes in Iran, the currency markets have entered a phase of heightened volatility, reflecting the intricate interplay between geopolitical tensions and economic fundamentals.

blockdag

BlockDAG Leads DeFi Innovation with $19M Presale, Overshadowing Cardano and Binance Coin With 30,000x ROI and DAG Structure

Learn about BlockDAG’s growth in its presale, surpassing $19M, and its impact on the DeFi landscape, overshadowing movements in Cardano and Binance Coin (BNB).

<