{"id":40006,"date":"2024-06-17T18:30:51","date_gmt":"2024-06-17T13:00:51","guid":{"rendered":"https:\/\/newswiredelhi.com\/index.php\/2024\/06\/17\/indxx-licenses-u-s-infrastructure-development-index-to-global-x-etfs-australia-for-an-etf\/"},"modified":"2024-06-17T18:30:51","modified_gmt":"2024-06-17T13:00:51","slug":"indxx-licenses-u-s-infrastructure-development-index-to-global-x-etfs-australia-for-an-etf","status":"publish","type":"post","link":"https:\/\/newswiredelhi.com\/index.php\/2024\/06\/17\/indxx-licenses-u-s-infrastructure-development-index-to-global-x-etfs-australia-for-an-etf\/","title":{"rendered":"Indxx Licenses U.S. Infrastructure Development Index to Global X ETFs Australia for an ETF"},"content":{"rendered":"
\n

Mumbai (Maharashtra) [India], June 17:<\/strong> Indxx, a provider of indexing solutions for exchange traded funds (ETFs), is pleased to announce the licensing of the Indxx U.S. Infrastructure Development Index to Global X ETFs Australia. The Index serves as the underlying benchmark for the\u00a0Global X US Infrastructure Development ETF (Ticker: PAVE), which began trading today on the Australian Securities Exchange (ASX). \u00a0<\/p>\n

The Indxx U.S. Infrastructure Development Index is designed to measure the performance of companies that provide exposure to infrastructure development in the United States. This includes companies involved in the construction and engineering of infrastructure projects; the production of infrastructure raw materials, composites, and products; producers\/distributors of heavy construction equipment; and companies engaged in the transportation of infrastructure materials.<\/p>\n

A New Era for U.S. Infrastructure<\/strong><\/p>\n

The American Society of Civil Engineers (ASCE) gave America\u2019s infrastructure a grade of C- in their 2021 Infrastructure Report Card. This is the first time in 20 years that America has been ranked out of the D range.1<\/p>\n

The Congress has passed several bills, such as the Infrastructure Investment and Jobs Act and the CHIPS and Science Act that will cumulatively invest over $1.2 trillion in modernizing infrastructure in the<\/p>\n

United States between 2021 and 2030.2<\/strong><\/p>\n

Rahul Sen Sharma, President and Co-CEO at Indxx said, \u201cInfrastructure is the\u00a0backbone of a nation\u2019s economy, facilitating trade, enhancing communication,\u00a0creating job opportunities, and powering businesses. Between 2021 and 2023, the government has invested over $120 billion in U.S infrastructure.2\u00a0As of May 2024, private companies have announced $866 billion in manufacturing investments.3\u00a0The increasing public and private investments in infrastructure provide a promising outlook for this industry. The success of the Global X U.S. Infrastructure Development ETF (NYSE: PAVE) listed in the United States which tracks our Indxx US Infrastructure Development Index, is a testament to this potential. With over $7.5 billion in assets, the US-listed PAVE\u2019s success\u00a0highlights investor confidence in the promising future of infrastructure investments. We are excited to partner with Global X ETFs Australia to help Australian investors capitalize on the U.S. infrastructure growth opportunity.\u201d<\/p>\n

Vaibhav Agarwal, Chief Product Officer\u00a0at Indxx added, \u201cThe Indxx U.S. Infrastructure Development Index employs a research-focused methodology to provide access to leading companies across the entire U.S. infrastructure value chain, encompassing Construction & Engineering Services, Raw Materials and Composites, Products and Equipment, and Industrial Transportation. To be eligible for inclusion, companies must generate more than 50% of their revenue within the United States, ensuring a targeted and accurate representation of the U.S. infrastructure industry. We are excited to introduce this innovative strategy to the Australian market through Global X ETFs Australia.\u201d\u00a0<\/p>\n

Evan Metcalf, CEO at Global X ETFs in Australia said,\u00a0\u201cPAVE is a strategic\u00a0addition to the company\u2019s product suite which not only fills a gap in\u00a0the market, but client portfolios. Infrastructure development is critical for the growth and modernisation of any economy. Within the U.S., recent legislative acts are directing substantial funding towards infrastructure, signalling enormous growth potential for companies in this sector. This investment opportunity aligns strongly with our core investment thesis of research and innovation. Building on our successful track record of pioneering thematic products in Australia\u00a0\u2013\u00a0including our recent launch of GXAI which also tracks an index administered by Indxx\u00a0\u2013\u00a0we are excited to introduce this unique infrastructure\u00a0development ETF to Australian investors.\u201d<\/p>\n

As of June 05, 2024, the index has 99 constituents. The index has been back tested to January 31, 2011, and has a live calculation date of February 17, 2017.<\/p>\n

For additional information, please see\u00a0here<\/a>.<\/a><\/p>\n

1.\u00a0ASCE\u00a0<\/a><\/p>\n

2.<\/a> Visual Capitalist\u00a0<\/p>\n

3.\u00a0White House\u00a0<\/a><\/p>\n

About Indxx<\/strong><\/p>\n

Founded in 2005 and with offices in the United States and India, Indxx is a leading index provider delivering innovative solutions to the investment management community at large. These range from end-to end indexing services to data and technology products.<\/p>\n

Indxx and products tracking its indices have been nominated for and received\u00a0numerous awards, including \u2018Index Provider of the Year\u2019 at the With Intelligence Mutual Fund & ETF Awards 2022 & 2023, \u2018Best Index Provider\u00a0\u2013 Emerging<\/p>\n

Markets ETFs\u2019 at the ETF Express US Awards in October 2020, and \u2018Most Innovative ETF Index Provider\u2019 for the Americas at the 14th Annual Global ETF\u00a0Awards in July 2018. \u00a0<\/p>\n

For more information about Indxx, please visit: http:\/\/www.indxx.com\/<\/a><\/p>\n

For more information about this announcement, please contact: \u00a0<\/p>\n

marketing@indxx.com\u00a0<\/p>\n

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Mumbai (Maharashtra) [India], June 17: Indxx, a provider of indexing solutions for exchange traded funds (ETFs), is pleased to announce the licensing of the Indxx U.S. Infrastructure Development Index to […]<\/p>\n","protected":false},"author":1,"featured_media":40007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_rishi_post_view_count":166},"categories":[686,680,683,9],"tags":[685],"class_list":["post-40006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-finance","category-pnn-news","category-press-release","tag-finance","rishi-post"],"rishi__cb_customizer_meta":"","comments_count":"0","_links":{"self":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/posts\/40006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/comments?post=40006"}],"version-history":[{"count":0,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/posts\/40006\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/media\/40007"}],"wp:attachment":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/media?parent=40006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/categories?post=40006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/tags?post=40006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}