Citigroup has launched the Citi BRIC Commodities Index, which provides investors access to broad commodity exposure in proportion to the consumption of commodities in Brazil, Russia, India and China (BRIC).
Investors confident that price trends will be driven by continued robust growth of the commodity-hungry BRICs now have a straightforward way of expressing that view. The index provides access to a basket of commodity futures with weighting based on the consumption of 13 key commodities, in proportion to the combined consumption of the BRIC economies. The index will be rebalanced annually based on publicly available data.
“As global growth becomes increasingly reliant on demand growth from the emerging market economies and less so on the US consumer, the eyes of the commodity investor are increasingly drawn to the BRIC economies’ influence on commodity prices. This index allows commodity investors to express this view and participate in the most appropriate proportions,” said Iain Armitage, head of commodity investor products at Citi.
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