Qontigo licenses STOXX benchmark for ESG investing in China to PSBC
ZUG, Switzerland, Nov. 16, 2022 /PRNewswire/ — Qontigo, a global provider of indices and analytics and part of Deutsche Börse Group, has licensed the STOXX PSBC China A ESG Index to Postal Savings Bank of China (PSBC). The index serves as an underlying for an onshore wealth management vehicle launched by PSBC. The index applies an ESG score, exclusionary screens, and incorporates Qontigo’s quantitative portfolio construction tools.
Andrew Wu, Chairman, PSBC Wealth Management Corporation Limited said:
“After months of preparations following the announcement of the STOXX PSBC China A ESG index in March this year, PSBC Wealth Management is now launching the first wealth management product linked to the index to provide investors an investment plan in the high-quality China A-share market. PSBC Wealth Management will, as always, be committed to serving the real economy, assisting the country’s key strategic layout, and meeting people’s wealth management needs.”
Rick Chau, Managing Director for Sales, Asia/Pacific, at Qontigo commented:
“We are excited to have completed our first collaboration with PSBC, one of the top players in China’s wealth-management industry, for a unique solution in that market. The STOXX PSBC China A ESG Index efficiently addresses the objective of enhancing the portfolio’s ESG profile, without generating excessive risk, turnover or sector biases. We foresee the index to become a benchmark for ESG performance among the country’s largest companies and to facilitate investor stewardship.”
The STOXX PSBC China A ESG Index selects from the largest 300 securities in the STOXX China A 900 Index. The index targets a portfolio with a superior ESG profile compared to the broad market, while maintaining similar risk characteristics. Companies that are assessed to be non-compliant with the UN Global Compact Principles, or involved in controversial weapons, tobacco or thermal coal are not eligible for selection. The final selection and weights are then determined using the Axioma Portfolio Optimizer to maximize the overall ESG score of the index, which must be at least 20% higher than the benchmark’s score.
Qontigo is a leading global provider of innovative index, analytics and risk solutions that optimize investment impact. As the shift toward sustainable investing accelerates, Qontigo enables its clients—financial-products issuers, asset owners and asset managers—to deliver sophisticated and targeted solutions at scale to meet the increasingly demanding and unique sustainability goals of investors worldwide.
Qontigo’s solutions are enhanced by both our collaborative, customer-centric culture, which allows us to create tailored solutions for our clients, and our open architecture and modern technology that efficiently integrate with our clients’ processes.
Part of the Deutsche Börse Group, Qontigo was created in 2019 through the combination of Axioma, DAX and STOXX. Headquartered in Eschborn, Germany, Qontigo’s global presence includes offices in New York, London, Zug and Hong Kong.
STOXX Ltd. is Qontigo’s global index provider, currently calculating a global, comprehensive index family of about 13,000 strictly rules-based and transparent indices. Best known for the leading European equity indices EURO STOXX 50, STOXX Europe 50 and STOXX Europe 600, STOXX Ltd. maintains and calculates the STOXX Global index family which consists of total market, broad and blue-chip indices for the regions Americas, Europe, Asia/Pacific and sub-regions Latin America and BRIC (Brazil, Russia, India and China) as well as global markets.
STOXX is the administrator of the STOXX® and DAX® indices under the European Benchmark Regulation and exercises control over all benchmark administration processes within Qontigo.
STOXX indices are licensed to more than 600 companies around the world as underlyings for Exchange Traded Funds (ETFs), futures and options, structured products and passively managed investment funds.
STOXX, Qontigo GmbH, Qontigo Index GmbH, Deutsche Boerse Group and their licensors, research partners or data providers do not make any warranties or representations, express or implied, with respect to the timeliness, sequence, accuracy, completeness, currentness, merchantability, quality or fitness for any particular purpose of its index data and exclude any liability in connection therewith. STOXX, Qontigo GmbH, Qontigo Index GmbH, Deutsche Boerse Group and their licensors, research partners or data providers are not providing investment advice through the publication of indices or in connection therewith. In particular, the inclusion of a company in an index, its weighting, or the exclusion of a company from an index, does not in any way reflect an opinion of STOXX, Qontigo GmbH, Qontigo Index GmbH, Deutsche Boerse Group or their licensors, research partners or data providers on the merits of that company. Financial instruments based on the STOXX® indices, DAX® indices or on any other indices supported by STOXX are in no way sponsored, endorsed, sold or promoted by STOXX, Qontigo GmbH, Qontigo Index GmbH, Deutsche Boerse Group or their licensors, research partners or data providers.
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