The Investable Infrastructure Index will be the first in a series of Investable Indices, with a Construction and Property index next in line.
Comprising high-liquidity, widely held stocks, the Investable Indices will be an attractive base for index funds, index futures and Exchange Traded Funds, and will enable targeted and sector-specific investment in the New Zealand market.
NZX plans to name the indices after individuals who have made outstanding efforts to develop and advance the related sector. The Investable Infrastructure Index will be named after Lloyd Morrison CNZM, in recognition of his instrumental contribution to the New Zealand infrastructure sector at many levels, including an enormous impact on quality and efficiency, and in taking New Zealand infrastructure exports globally to Australia, the US and the UK.
Lloyd Morrison said, "The establishment of investable sector indices by NZX is a smart move. While the infrastructure sector is one of the best represented on the NZX markets already, the impending float of the SOE electricity companies will give even greater substance to the index."
NZX CEO Mark Weldon said, “Markets are not black boxes - they have their own characteristics, and develop according to the leadership decisions of those who participate in them.
"The NZX Markets are indebted to Lloyd Morrison for his contribution, and we are pleased to honour his contribution personally by naming a key sector index after him. We look forward to similar recognition for other great contributors in the future," said Weldon.