STOXX launches IMI family covering 99% of investable market

STOXX has launched the Investable Market Indices (IMI), a global equity index family that captures roughly 99% of the investable equity universe across 23 developed and 23 emerging markets. The family covers large-, mid- and small-cap segments and comprises more than 1,300 indices governed by a single methodology.

The IMI use a building-block architecture designed to allow consistent aggregation from country-level exposures to regional and global coverage while applying the same rules and data treatment across all markets. At launch the lineup includes global, regional and single-country indices intended for benchmarking and portfolio construction.

STOXX says the framework supports institutional benchmarking and exchange-traded fund development and is intended to be a cost-efficient option for institutional users and product providers. Dutch pension investor APG Asset Management applied the IMI framework to a €20 billion emerging markets equity benchmark that required broad exposure, transparency and integration of sustainability factors. Hans van Westrienen, team lead for Quant & Index Solutions at APG Asset Management, commented: “For large institutional investors, the ability to align benchmarks closely with investment beliefs while maintaining transparency and scalability is increasingly important. The STOXX IMI framework provides that flexibility within a consistent and robust structure.”

Swiss Life Asset Managers is using IMI indexes to build cost-efficient core exposures. Daniel Berner, Head Securities at Swiss Life Asset Managers, noted: “STOXX IMI provide a robust framework for accessing broad global equity markets through a transparent and investable approach. We see significant potential for investors seeking scalable and cost-efficient global equity benchmark exposures.”

Axel Lomholt, General Manager at STOXX, said the launch adds a cost-effective choice and strengthens the firm’s global equity index platform by offering transparent benchmark solutions alongside client support and customizable services. STOXX states IMI coverage spans 46 markets in total and highlights the indices’ suitability for ETFs and other investment products.