S&P Dow Jones Indices (SPDJI) and IHS Markit have teamed-up to construct a series of multi-asset benchmarks.

The new benchmarks will be created using the firms’ flagship indices including the S&P 500, the iBoxx bond indices and CDX and iTraxx credit indices.

In the first phase of the partnership, the firms are working to design the asset allocation strategy for the indices.

The firms said the benchmarks have been constructed in order to meet the growing demand for portfolio allocation, diversification and risk management solutions.

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Jamie Farmer (pictured), chief commercial officer at SPDJI: "We are excited to collaborate with IHS Markit in developing innovative multi-asset solutions.”

Sophia Dancygier, head of indices at IHS Markit, added: "Together, we will enable dynamic exposure to stocks and bonds, which is essential for annuity sponsors, pension funds, insurance companies and other financial institutions."

The partnership comes a week after SPDJI appointed Invesco's global head of ETFs Dan Draper as chief executive, replacing Alex Matturri who is retiring.

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