MAC Indexing LLC today announced the introduction of the MAC Global Solar Energy Index (Index Ticker: SUNIDX), the first index to independently track the rapidly growing solar energy sector. Dow Jones will publish the Index, which was developed and is maintained by MAC Indexes, LLC, an affiliate of Melvin & Company that specializes in clean energy equity research and index development.
The MAC Global Solar Energy Index has been licensed to Claymore Advisors, LLC, which anticipates launching the first solar power exchange-traded fund (ETF) on the NYSE-Arca under the symbol "TAN" in April.
"The creation of the MAC Global Solar Energy Index recognizes the growth of the solar sector and its maturing in terms of investment depth," said Christopher C. Melvin, Jr. Chairman and CEO of Melvin & Co. "Solar continues to be one of the fastest growing sectors within the clean-tech industry with a recent 47% annual growth rate and an expected 40% continued growth in the next few years."
A global portfolio of 25 leading solar companies with a combined market capitalization of nearly $100 billion comprise the index. The average market capitalization of the stocks in the index is approximately $3.8 billion and the median is approximately $1.2 billion.
The index is designed to track companies within the following business segments of the solar power industry: solar power equipment producers; suppliers of materials or services to solar equipment producers; companies that derive a significant portion of their business, measured by the methodology set forth below, from solar power system installation, integration or finance; and companies that specialize in selling electricity derived from solar power.
About MAC Indexes, LLC
MAC Indexes, LLC is an affiliate of Melvin & Company that specializes in clean energy equity research and index development. Melvin & Company is an institutional research and brokerage firm based in Chicago.
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