Standard & Poor's to Acquire Goldman Sachs' GSCI
S&P to Also Obtain Goldman Sachs Sector Indexes and Goldman Sachs
Technology Index
NEW YORK, February 6 /CNW/ - Standard & Poor's, a division of The
McGraw-Hill Companies (NYSE: MHP), will acquire the market leading Goldman
Sachs Commodity Index ("GSCI") and two equity index families from the Goldman
Sachs Group, Inc. (NYSE: GS), the two companies announced today.
Terms of the transaction were not disclosed.
The GSCI, created in 1991, currently includes 24 commodities and is
designed to provide investors with a reliable and publicly available benchmark
for investment performance in the commodity markets.
The clear commodity index leader, the GSCI has an estimated $60 billion
in institutional investor funds tracking it, the majority of that coming
through over-the-counter derivatives transactions.
After a brief transition period, the index will be renamed the S&P GSCI
Commodity Index.
"We are excited that the world's most popular commodity index will become
part of the world's premier index provider, Standard & Poor's," said Heather
Shemilt, global head of Goldman Sachs' commodity index business. "Goldman
Sachs looks forward to continuing to work with institutional investors who
want to gain exposure to the commodity asset class through index investing."
"A well-diversified portfolio now routinely includes exposure to
commodities, as investors seek ways to reduce risk, preserve capital and
generate alpha," says Robert Shakotko, Managing Director at Standard & Poor's.
"Standard & Poor's acquisition of GSCI provides investors with additional
tools for portfolio and risk management, while adding to the already potent
lineup of S&P indices."
Under the terms of the agreement, Standard & Poor's will also acquire the
Goldman Sachs Sector Indexes, diversified and broadly representative indexes
for healthcare, financial institutions, utilities, consumer companies and
cyclical industries; and, the Goldman Sachs Technology Index, a broad
composite measure of US traded technology stocks and six technology
sub-indexes.
S&P to Also Obtain Goldman Sachs Sector Indexes and Goldman Sachs
Technology Index
NEW YORK, February 6 /CNW/ - Standard & Poor's, a division of The
McGraw-Hill Companies (NYSE: MHP), will acquire the market leading Goldman
Sachs Commodity Index ("GSCI") and two equity index families from the Goldman
Sachs Group, Inc. (NYSE: GS), the two companies announced today.
Terms of the transaction were not disclosed.
The GSCI, created in 1991, currently includes 24 commodities and is
designed to provide investors with a reliable and publicly available benchmark
for investment performance in the commodity markets.
The clear commodity index leader, the GSCI has an estimated $60 billion
in institutional investor funds tracking it, the majority of that coming
through over-the-counter derivatives transactions.
After a brief transition period, the index will be renamed the S&P GSCI
Commodity Index.
"We are excited that the world's most popular commodity index will become
part of the world's premier index provider, Standard & Poor's," said Heather
Shemilt, global head of Goldman Sachs' commodity index business. "Goldman
Sachs looks forward to continuing to work with institutional investors who
want to gain exposure to the commodity asset class through index investing."
"A well-diversified portfolio now routinely includes exposure to
commodities, as investors seek ways to reduce risk, preserve capital and
generate alpha," says Robert Shakotko, Managing Director at Standard & Poor's.
"Standard & Poor's acquisition of GSCI provides investors with additional
tools for portfolio and risk management, while adding to the already potent
lineup of S&P indices."
Under the terms of the agreement, Standard & Poor's will also acquire the
Goldman Sachs Sector Indexes, diversified and broadly representative indexes
for healthcare, financial institutions, utilities, consumer companies and
cyclical industries; and, the Goldman Sachs Technology Index, a broad
composite measure of US traded technology stocks and six technology
sub-indexes.