The Believers: Part II

Global sector investing will take a giant step forward with FTSEÆs new suite of indices. A benchmark wonÆt be far behind.

On Monday, 12 February, FTSE, the Financial Times-affiliated index vendor, will launch 11 global sector indices in London. These are the first sector indices to be made available to the public, and mark another step in a steady shift by asset managers away from country allocations to sector allocations.

Earlier this week, fund manager INVESCO was out promoting new sector-based funds. The firm says the main hindrance to institutional investors embracing sector allocations over traditional country allocations is the lack of a benchmark. Everybody knows the MSCI set of global indices, but theres nothing like that in the sector universe.

FTSE is out to change that. Mark Makepeace, FTSEs London-based chief...

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