S&P Dow Jones Indices kicked off the month of February with the launch of the S&P Business Development Company Index, a press release said.
The new index consists of private equity firms selected from the components of the S&P United States BMI; eligible firms must have a BDC structure, as evidenced by SEC filings. The press release also noted that the component weights were adjusted for available float and capped at 10 percent of the index. As of the end of 2013, the index had 34 components, with an average market capitalization of $845 million, according to an S&P DJI fact sheet.
The index has been licensed to Japan’s Nikko Asset Management for use as the basis for an index fund, the press release said.