Indxx Licenses Luxury Goods Top 10 Index to Migdal Mutual Funds Ltd. for an ETF

MIAMI, FL, UNITED STATES, September 25, 2024 /EINPresswire.com/ -- Indxx, a provider of indexing solutions for exchange traded funds (ETFs), is pleased to announce the licensing of the Indxx Luxury Goods Top 10 Index to Migdal Mutual Funds Ltd. The Index serves as the underlying benchmark for the MTF Index Fund Indxx Luxury Goods TOP 10 Dollar Hedged (4D), (Ticker: 5139043), which started trading on the Tel Aviv Stock Exchange on September 24.

The Indxx Luxury Goods Top 10 Index is designed to track the performance of the top 10 companies producing and selling luxury goods. The eligible domicile countries are United Kingdom, France, Italy, and Switzerland.

Rahul Sen Sharma, President and Co-CEO at Indxx said, “The growing number of affluent and high net-worth individuals worldwide, particularly in emerging markets, is significantly boosting demand for luxury goods. This expanding demographic, combined with shifting consumer preferences and a heightened desire for quality and exclusivity, is propelling the market's growth. As a result, the luxury goods market is expected to witness a CAGR of 6.8% from 2023 to 2030 and reach $579.26 billion by 2030.¹ Our Luxury Goods Top 10 Index helps capitalize on this opportunity by providing targeted exposure to the top 10 leading companies in this dynamic sector. We are thrilled to collaborate with Migdal Mutual Funds Ltd. to bring this innovative strategy to the Israeli market.”

Vaibhav Agarwal, Chief Product Officer at Indxx, added, “The Indxx Luxury Goods Top 10 Index employs a research-focused methodology to identify the frontrunners in the global luxury goods market. Companies must derive more than 50% of their revenue from the sub-themes: Apparel & Footwear, Automobile Manufacturers, and Accessories to be included. We are delighted to introduce this cutting-edge strategy to the Israeli market in partnership with Migdal Mutual Funds Ltd.”

As of September 25, 2024, the index has 10 constituents. The index has been backtested to December 08, 2017, and has a live calculation date of May 02, 2023. For additional information, please see here.

1. Grand View Research

About Indxx

Founded in 2005 and with offices in the United States and India, Indxx is a leading index provider delivering innovative solutions to the investment management community at large. These range from end-to end indexing services to data and technology products.

Indxx and products tracking its indices have been nominated for and received numerous awards, including ‘Index Provider of the Year’ at the With Intelligence Mutual Fund & ETF Awards 2022 & 2023, ‘Best Index Provider - Emerging Markets ETFs’ at the ETF Express US Awards in October 2020, and ‘Most Innovative ETF Index Provider Americas' at the 14th Annual Global ETF Awards in July 2018.

For more information about Indxx, please visit: https://indxx.com/contact-us

Saakshi Sud
Indxx
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