Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) and FTSE Russell announced co-developing the FTSE ADX Growth Market Index (FADGMI) under their index partnership.
The new benchmark index, which went live today, will track the performance of the ADX’s recently rebranded Growth Market segment, Emirates News Agency (WAM) reported on Thursday.
FADGMI includes the eligible constituents of the Growth Market and will help investors mimic the Growth Market performance, which comprises various emerging and fast-growing companies starting their capital market journey.
The launch of FADGMI is a result of ADX’s successful partnership with FTSE Russell and closely follows the launch of the FTSE ADX 15 Index (FADX15), a blue-chip benchmark of the 15 largest and the most liquid companies on ADX in March.
More co-branded indices are expected to be launched under the partnership in the coming months.
Managing Director and CEO of ADX, Saeed Hamad Al Dhaheri, commented, "The new index will enable investors to track the exciting opportunities in the Growth Market segment and make insightful investment decisions to better manage their investment portfolios. Our collaboration with FTSE Russell is an important component in increasing liquidity and supporting the exchange's market capitalisation growth."
CEO of FTSE Russell, Arne Staal, said, "The launch of the FADGMI index is another important milestone in our strategic partnership with ADX that harnesses FTSE Russell’s world-class expertise to create best-in-class equity benchmarks for one of the region’s fastest growing exchanges."
