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Alternative Market Briefing

Solactive AG launches activist index

Thursday, April 30, 2015

Komfie Manalo, Opalesque Asia:

Solactive AG, a German-based multi asset class provider that focuses on tailor-made indices, announced the launch of its latest index, called the Solactive Guru Activist Index as it expand its Guru Family.

The new index will be used as underlying for the Global X Guru ™ Activist Index ETF (ACTX) listed on NASDAQ.

"The aim of the Solactive Guru Activist Index is to include the target companies of activist investors that tend to take relatively large stakes in a company in order to enforce substantial changes in their corporate strategy," Henning Kahre, head of equity indexing at Solactive, commented. "These campaigns are often related to restructuring plans or returning cash to shareholders, among others."

The Solactive Guru Activist Index will track the price movements of U.S. listed equity holdings of a group of activist investors. The selection is based on publically available documents, the 13F Filings, that all hedge funds with more than $100m in US equity investments are required to report to the SEC on a quarterly basis, and the 13D filings, that all investors acquiring 5% or more of a company’s shares are required to report to the SEC within 10 days after the date of the transaction.

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