| NASDAQ OMX and Claremont Investment Partners Launch Fundamentally Weighted Index |
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28/10/2009 17:15 (23 Day 21:23 minutes ago) | |||||
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The FINANCIAL -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and Claremont Investment Partners have introduced The NASDAQ OMX Industry Leaders Index (Nasdaq:NILI (Nasdaq:NILX), a benchmark for high quality fundamentally weighted index performance.
The index is based on the patented quantitative and proprietarily weighted methodology created by Claremont's founding partner, Gerald P. Sullivan. The Industry Leaders(R) Portfolio Strategy is a patented investment process that creates a portfolio of between 65 and 85 large cap Blue Chip companies in 45 to 60 industries with superior credit quality. The index leverages elements of equal weight, fundamental and non-traditional index methodologies to create the monthly portfolio allocations. The strategy is currently employed in a Morningstar 4 star rated mutual fund, The Industry Leaders Fund (ILFIX, ILFLX).
"We are excited to be a partner with one of the most dynamic, technologically-advanced exchanges in the world. We believe The NASDAQ OMX Industry Leaders Index will become an industry leader in the large cap, fundamentally weighted index universe. Our 10 year plus track record of actual (not hypothetical) results at the Fund is testament to the value that can be derived from our disciplined, quantitative and consistent index based approach to investing," said Gerry Sullivan, Chief Investment Officer and CFO of Claremont Investment Partners.
"We are pleased to partner with an industry leader such as Claremont Investment Partners," said John Jacobs, Executive Vice President, NASDAQ OMX. "Claremont is an inventor of a proven, patented investment strategy and both NASDAQ OMX and Claremont share a commitment to transparency and innovation."
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