Midcap-30 index ATOM takes off

New Delhi: Airawat Indices Pvt Ltd, a three way partnership agency based by former Sebi Chairman M Damodaran and Decimal Level Analytics, has launched a brand new index ATOM, comprising 30 midcap corporations listed on inventory exchanges.

ATOM (Airawat Touchstone MidCap Index) is a thematic index designed to serve buyers looking for to put money into “well-governed mid-cap corporations”, the corporate mentioned in a launch. The three way partnership has chosen these 30 midcap corporations from the AMFI’s (Affiliation of Mutual Funds in India) checklist of midcap 150 shares as the start line of its scoring methodology. Damodaran, former Chairman of UTI and IDBI, additionally introduced a Company Governance Index for midcap corporations. The methodology to pick the 30 corporations in ATOM captures the monetary high quality and company governance requirements of the AMFI midcap universe, it mentioned, including the index is reconstituted each six months based mostly on revisions AMFI makes to its checklist of 150 midcap corporations.

Talking on the launch of ATOM, Damodaran mentioned: “The midcap area is conventionally considered dangerous and filled with dodgy corporations. Nonetheless, we determined to blow up this fantasy and located a technique to systematically establish well-governed corporations to create ATOM.” He additional mentioned with the speedy progress of asset administration companies in India, having a handful of index suppliers could show to be inadequate. “Airawat, as a brand new entrant, is dedicated to discovering new and revolutionary segments within the markets and creating indices round which buyers can construct distinctive portfolios,” he mentioned.

Ashutosh Bishnoi, Advisor to Airawat and a former Board member of the Affiliation of Mutual Funds of India, mentioned ATOM represents the very best quality of midcap corporations in India. “On a CAGR foundation, it outperformed the 150 midcap shares over the past 5 years by over 500 bps and but considerably underperformed over the past one yr,” he mentioned. Decimal Level Analytics serves capital market establishments in Europe and the US from its places of work in London, New York, Present Metropolis, Nashik and Mumbai. Decimal Level already handles the administration of over 400 indices for world index corporations, the discharge mentioned.