Barclays to launch indices based on Fortune 500

Barclays-HSBC-Canary-Wharf-London-700.jpg

Barclays has joined with Time Inc to launch a family of indices based on the Fortune 500, the power list printed by the eponymous magazine.

The Fortune 500 ranks US companies with the largest revenues and currently represents $19trn in market value. It is currently topped by Walmart followed by Berkshire Hathaway and Apple.

Private companies and those with liquidity restriction will be excluded from the index.

The first index in the family, the Barclays FORTUNE 500 Equal Weighted, will launch in July.

Dupe Adeyemo, director in EFS solutions at Barclays says: “The companies that comprise the Fortune 500 are some of the strongest, highest revenue generators in the US and we believe that market participants will benefit from exposure to these companies through the investable indices that we are creating.”

Fortune president Alan Murray says: “The Fortune 500 list has always been a vital way to track the economy.”