The success of the Pir continues. In the wake of stellar rises in the last 6 months, in which the Aim index recorded a record rise of 29,22% compared to the end of 2016, Ftse Russell, the company of the London Stock Exchange group that calculates the main indices of Borsa Italiana and Mts, presented six new indices compatible with the investment strategies of the PIRs, the Individual Savings Plans which debuted in Italy on 1 January 2017 and which, as is now known, provide that at least 70% of the total value of the Plans must be invested in instruments issued by Italian companies (of this 70 per cent, at least 30% must be invested in financial instruments issued by companies not listed on the FtseMib).
The ride of this first semester, in addition to pushing Government and brokers to raise funding estimates, led FTSE Russell to expand its offer by creating six PIR compliant segments. The new indices will focus on small and mid-cap Italian companies, although according to what was announced at the press conference, there will be room for large caps.
Going into detail, the six new segments will be: Ftse Italia Pir Pmi All and Ftse Italia Pir Mid Small Cap (indicators of shares eligible for PIR listed on Borsa Italiana markets), Ftse Italia Pir Pmi Plus and Ftse Italia Pir Star (concentrated on the main SMEs by size and liquidity in the respective segments), FTSE Italia Pir Benchmark and FTSE Italia Pie Benchmark Star (portfolio benchmarks built starting from the set of shares listed on the MTA eligible for inclusion in PIR accounts, both SMEs and blue chips).
In total 271 shares are traded, while the number of FTSE Russell indices rises to 24. It should be noted that four indices out of six have already been activated (Ftse Italia Pir Pmi Plus, Ftse Italia Pir Star, Ftse Italia Pir Benchmark, Ftse Italia Pir Mid Small Cap), while Ftse Italia Pir Pmi All and Ftse Italia Pir Benchmark Star "will open the doors” tomorrow, June 20th.
Based on what was stated by Luke Philippa, head of Southern Europe at Ftse Russell, the debut of the new indices responded to input from investors. “We responded to three different requests - said Filippa - They asked us for indices that would aggregate all the mid and small caps eligible for the PIR, selected indices of the main mid-small caps by size and liquidity, more general indices that included the 'PIR' securities compliant' of blue chips and SMEs. This is where the offer came from”.
