Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced that Cathay Securities Investment Trust (“Cathay SITE”) has selected the ICE FactSet® Global Top 50 Brands Index for a newly launched ETF.
The ICE FactSet Global Top 50 Brands Index (ICFSTBR) is a modified, float-adjusted market capitalization-weighted equity benchmark designed to track the performance of companies that are characterized as having globally recognizable and strong consumer branding, based on the metrics set forth in the index methodology. The Cathay Global Top 50 Brands ETF (Ticker: 00916) uses ICE’s index as its benchmark and is expected to list on the Taiwan Stock Exchange on September 26, 2022.
“Cathay SITE has a dynamic portfolio of thematic funds, and we’re pleased to have them list a new ETF benchmarked to an ICE index,” said Magnus Cattan, Head of ICE Fixed Income and Data Services in APAC. “This is the first ETF in Taiwan that focuses on quantifying the brand value of well-known global companies by using intangible economic value in selecting constituents, resulting in a transparent, rules-based and innovative approach.”
Cathay SITE is the largest asset management company in Taiwan, with assets totaling $36.71 billion. Since 2015, Cathay SITE has expanded its product line with a broad range of ETFs, including innovative products such as the Cathay Global Autonomous and Electric Vehicles ETF which won The Asset’s most innovative ETF award in 2022.
This new listing is the 43rd ETF to list in Taiwan that is benchmarked to an ICE index, representing a total of assets under management of approximately $15.7B.
“We are focused on extending our footprint in Asia Pacific and offering our customers the most innovative and competitive financial products in the market,” said Andy Chang, CEO at Cathay SITE. “By evaluating the intangible economic value of well-known brands, the ICE FactSet Global Top 50 Brands Index enables us to create unique new funds for our customers to allow them to invest in industries that match their investment profile and strategies.”
ICE’s global family of indices serves as the performance benchmark for more than $1.5 trillion in assets managed by investors around the globe.