The University of Miami’s School of Business Administration recently announced its choice to use S&P Dow Jones Indices (S&P DJI) as a standard of measurement for its newly created index to better gauge the financial performance of Florida-based companies.
Custom hybrid indices use an S&P Dow Jones Index to analyze index constituents. The University of Miami's Florida 50 Index measures the performance of companies in the S&P Composite 1500 Index that have corporate headquarters in Florida. The S&P Dow Jones Indices is based in New York City.
"We are excited to be the chosen as the calculation agent for the University of Miami," Michael Mell, who directs custom indices at S&P Dow Jones Indices, said. "By expanding our custom hybrid indexing capabilities beyond financial services, S&P DJI is able to provide the academic community with benchmarks tailored to their unique needs."
Long regarded as a world leader in this specialty, S&P Dow Jones Indices combines existing knowledge with a global database of stocks to create customized indices designed to serve its individual customer's needs.
"The establishment of the University of Miami's Florida 50 Index, the first index of its kind to be owned by a university, illustrates our commitment to producing knowledge that can have a positive impact on the wider community," Gene Anderson, Dean of the University of Miami School of Business Administration, said. "By gauging and regularly reporting on the performance of the top corporations in Florida, we will provide new insight that we believe will be valuable and of significant interest to businesses, policy makers and individuals statewide and beyond."