BSE Index Services, a wholly owned subsidiary of BSE, has announced the launch of a new index - BSE Hospitals Index.
The BSE Hospitals Index is designed to measure the performance of all hospitals classified under the Healthcare industry.
The index comprises constituents categorized as ‘Hospital’ in the fourth level of industry classification from BSE 1000.
The BSE Hospitals Index is derived from the constituents of BSE 1000 Index, weighing method is float-adjusted market cap with the base value as 1000. The first value date is 19 June 2017, and it will be reconstituted semi-annually in June and December.
BSE stated that this new index can be used for running passive strategies such as ETFs and index funds as well as gauging the performance of Hospital sector in India. It can also be used for benchmarking of PMS strategies, MF schemes and fund portfolios.
In the last one year, the BSE Hospitals Index has delivered a total return of 25.54% with an annualized standard deviation of 18.54%.
Fortis Healthcare is the largest constituent of this index, commanding 20.91% weight. It is followed by Max Healthcare Institute (19.77%), Apollo Hospitals Enterprises (19.52%) and Krishna Institute of Medical Sciences (8.67%).