STOXX Minimum Variance Indices licensed to Resona Bank
Two STOXX Minimum Variance indices have been licensed to Resona Bank to be used in passive funds that will be used by Japanese pension funds.
The STOXX Minimum Variance Indices use Harry M Markowitz’s Nobel Prize winning Modern Portfolio Theory to create a hypothetical, risk-optimised portfolio, which is based on a variety of STOXX indices.
Resona Bank’s recently introduced funds use the STOXX Global 1800 Minimum Variance Unconstrained and STOXX Global 1800 ex Japan Minimum Variance Unconstrained indices as benchmarks.
“The STOXX Minimum Variance Indices are available in a constrained and an unconstrained index version. The latter is a novelty as it provides a strategy index that is minimized for volatility, but not restricted to follow an underlying base index too closely,” says Hartmut Graf, chief executive officer, STOXX Limited. “By licensing these indices to Resona Bank, Japanese pension funds will be able to participate from these innovative low volatility investment strategies.”
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