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UBS launches Global Infrastructure & Utilities Index series
UBS today announced the launch of the UBS Global Infrastructure & Utilities Index series. The new index series, calculated by Standard & Poor's - the world's leading index provider, is designed to give the financial community a stable and objective basis for evaluating the performance of the growing global listed Infrastructure & Utilities market.
Following the successful release of the Australian Infrastructure & Utilities Index in late 2005, UBS has created a new global index series calculated by Standard & Poor's. Consisting of 84 global indices, the new index series provides price and accumulation data for listed Infrastructure & Utilities companies around the world.
Craig STAFFORD, Head of Infrastructure & Utilities Research, UBS Australasia, said: "Given the growing importance of Infrastructure & Utilities as an asset class around the world, investors require a robust industry benchmark to gauge performance. "
STAFFORD commented: "Historically governments have under spent on infrastructure and are now pushing the funding burden of these assets to the private sector. This combined with new expenditure required by both developed and emerging economies creates an environment ripe for investment." "This trend creates an ideal match with the need for asset managers to match long-duration liabilities with long-duration assets," said Stafford. The indices have been designed to provide users with:
an accurate measure of historic returns since 1st January 1990;
an ongoing measure of price and accumulation returns; and
a benchmark to compare returns on an intra, inter-sector and geographic basis in USD, AUD and selected home currencies.
Tim EISENHAUER, Senior Director, Standard & Poor's Custom Indices said: "The UBS Global Infrastructure & Utilities Index series provides an excellent benchmark for a sector which now accounts for 4.6% of the S&P/Citigroup Broad Market Index. We look forward to working closely with UBS to provide the relative benchmarks that investors need to make informed decisions."
The UBS Global Infrastructure & Utilities Index series is calculated based on companies' free-float market capitalisation, as defined by Standard & Poor's. Price and total return index data is calculated daily by Standard & Poor's. The UBS Global Infrastructure & Utilities Index series will be available at no cost from UBS, Bloomberg, IRESS, Reuters and other selected market data sources (see codes in appendix). Customisation is possible for UBS clients.
"As a leading provider of market benchmarks such as the UBS Real Estate Index and UBS Composite Bond Index, UBS is well placed to provide the information investors need," concluded Stafford.
INCLUSIONS: UBS GLOBAL INFRASTRUCTURE & UTILITIES INDEX SERIES STRUCTURE BLOOMBERG, IRESS & REUTERS CODES
Michelle Chaperon, UBS Media Relations Australasia
+61 2 9324 3286
M) +61 416 285 907
Caroline Gurney, UBS Media Relations Australasia
+61 2 9324 3335
(M) +61 403 279 605
Sydney, February 14 2006
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