Chennai, Oct 13 (IANS) India Index Services & Products Ltd (IISPL) on Tuesday announced the launch of four new indices tracking securities, of varying maturity periods, issued by the government.
In a statement, the company said the four new indices are Nifty 4-8 year G-Sec Index; Nifty 11-15 year G-Sec Index; Nifty 15 year and above G-Sec Index and Nifty Composite G-Sec Index.
“These total return indices shall consider price movement of securities and accrued interest income on a daily basis. The base date of these indices is January 3, 2011 and base value is 1000,” the company said.
According to IISPL, the new G-Sec indices along with existing G-Sec indices would cover various maturities on the yield curve, which will make it easy to track the performance of G-Sec in various maturity buckets.
The asset management companies may use these indices for launching G-Sec Exchange Traded Funds, index funds or as a benchmark for their funds.
The indices will be calculated on an end-of-day basis, the company said.