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FactSet launches Global FinTech Index

First Published 11th January 2017

FactSet Global FinTech Index provides a benchmark to track the performance of companies engaged in financial technologies.

Jeremy Zhou, FactSet

Jeremy Zhou, FactSet

Norwalk, CT - FactSet, a provider of integrated financial information and analytical applications, has announced the launch of the FactSet Global FinTech Index, which provides a benchmark to track the performance of companies engaged in financial technologies, particularly in the areas of software and consulting, data and analytics, digital payment processing and transfer, and payment-related hardware. The Index has been licensed to Nikko Asset Management as the benchmark for the Global Fintech Equity Fund.

"Our goal is to lead innovation and deliver indexes that address difficult-to-access dimensions of the capital market," said Jeremy Zhou, head of indexing at FactSet. "The granularity of the FactSet Revere Business Industry Classification System (FactSet RBICS) helps investors to better understand and invest in evolving market areas like FinTech, which spans multiple industries often in niche areas that might be difficult to discover. With RBICS we are able to develop a relevant benchmark by identifying 17 FinTech-targeted industries out of RBICS' more than 1,400 industry levels."

The index universe for the FactSet Global FinTech Index is defined as stocks listed in one of the 30 developed and emerging market exchanges outlined in the index methodology. They must also have a market capitalization greater or equal to USD 300 million and a 3-month average trading value (ADTV) of at least USD 1 million. The Index is equal-weighted and is calculated in both price and total return versions available in US dollar. The base date is January 5, 2011 with a base value of 100. The Index is rebalanced semi-annually in January and July.