UBS Bloomberg Constant Maturity Commodity Index (CMCI) is the first commodity index that diversifies investment across the futures curve and introduces the concept of 'constant maturity' to commodity investing. It is a highly innovative approach which tackles the widely publicized issue of negative roll yield as well as allowing investors access to the price performance of forward commodity markets. The global weighting engine, diversified commodity selection and multiple maturities mean that this is a fully representative benchmark for the commodities asset class.
The CMCI Composite Index
The CMCI Composite Index is comprised of 27 commodity futures contracts representing the energy, precious metals, industrial metals, agricultural and livestock sectors. On top of this comes a liquidity weighted exposure to all available constant maturities (from 3 months up to 3 years) for each commodity.