German index provider Solactive has launched the Solactive Global Technology Leaders index, comprised of the leading global technology companies. The index not only includes traditional tech firms but also businesses which have an impact on the technology industry.
Within the sector, Solactive selects companies engaged in themes such as cyber-security, IT, e-commerce, robotics and artificial intelligence to name a few.
Solactive use its Solactive GBS Developed Markets Large & Mid Cap index as its initial population for selecting its new index's constituents. The index provider says it incorporates a proprietary selection procedure to pick out the relevant companies. Said companies must also possess a minimum market capitalisation of (CAD) $1bn on each selection day.
Timo Pfeiffer, head of research at Solactive, commented: “Amazon is classified as an online retailer, but since its establishment, became a player that has set the foundation pillar for e-commerce and therefore created a whole new market for tech companies around it.
“The Solactive Global Technology Leaders Index includes, among others, those figureheads that significantly point the way ahead.”