GMP launches junior oil and gas index

GMP Securities has launched a new index tracking small- and mid-cap companies in the energy sector. The GMP Junior Oil and Gas Index is designed to provide investors with an investable index of 48 companies that are publicly listed on the Toronto Stock Exchange.

“This is the first time GMP Securities has been involved in the creation of an index,” said Wade Felesky, Managing Director, Investment Banking, GMP Securities. “We believe the Canadian junior oil and gas sector did not have an appropriate real-time benchmark to track the relative securities performance and accurately reflect some of the key fundamental investment features of Canadian junior oil and gas companies.”

Index constituents are float-adjusted, cap-weighted, with a maximum allocation of 10% to any one security. The market cap of the constituent companies ranges from $100 million to $3 billion. The index will be rebalanced quarterly.

Exposure to the new index is available through a new ETF being offered by BetaPro Management, the Horizons BetaPro GMP Junior Oil and Gas Index ETF.

“This index was developed with the application of our extensive market knowledge and in-depth industry research, which we believe will set it apart as the benchmark of choice in the Canadian junior oil and gas sector,” Felesky said. “Launching the GMP Junior Oil and Gas Index is a logical extension of GMP’s core strength and further advances our brand as a recognized leader in the North American resource sector.”

The index is calculated by Standard & Poor’s and can be tracked live on Thomson ONE under the ticker symbol “MPO/Y-CM”, Reuters under the ticker symbol “.GMPOG” and on Bloomberg under the ticker “GMPOG”. For more on the GMP Junior Oil and Gas Index, visit the GMP Securities’ website.

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