Standard & Poor's to Acquire Goldman Sachs' GSCI.S&P to Also Obtain Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. Sector Indexes and Goldman Sachs Technology Index NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Standard & Poor's, a division of The McGraw-Hill Companies (NYSE NYSE See: New York Stock Exchange : MHP MHP Multimedia Home Platform (consumer electronics) MHP Milliyetci Hareket Partisi (Turkish: National People's Party) MHP Mobile Home Park (district) MHP Maximum Human Performance ), will acquire the market leading Goldman Sachs Commodity Index The Goldman Sachs Commodity Index (GSCI) is a world-production weighted index composed of 24 commodity futures contracts. The index is a composite index of commodity sector returns and represents an unleveraged investment through broadly diversified long positions in commodity ("GSCI GSCI Goldman Sachs Commodity Index GSCI Georgia School Council Institute GSCI General Starlight Co., Inc. GSCi German Scientific Computing Initiative GSCI Gulf States Counterdrug Initiative ") and two equity index families from the Goldman Sachs Group, Inc. (NYSE: GS), the two companies announced today. Terms of the transaction were not disclosed. The GSCI, created in 1991, currently includes 24 commodities and is designed to provide investors with a reliable and publicly available benchmark for investment performance in the commodity markets. The clear commodity index leader, the GSCI has an estimated $60 billion in institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. funds tracking it, the majority of that coming through over-the-counter derivatives transactions. After a brief transition period, the index will be renamed the S&P GSCI Commodity Index. "We are excited that the world's most popular commodity index will become part of the world's premier index provider, Standard & Poor's," said Heather Shemilt, global head of Goldman Sachs' commodity index business. "Goldman Sachs looks forward to continuing to work with institutional investors who want to gain exposure to the commodity asset class through index investing." "A well-diversified portfolio Well-diversified portfolio A portfolio that includes a variety of securities so that the weight of any security is small. The risk of a well-diversified portfolio closely approximates the systematic risk of the overall market, and the unsystematic risk of each security has been now routinely includes exposure to commodities, as investors seek ways to reduce risk, preserve capital and generate alpha," says Robert Shakotko, Managing Director at Standard & Poor's. "Standard & Poor's acquisition of GSCI provides investors with additional tools for portfolio and risk management, while adding to the already potent lineup of S&P indices." Under the terms of the agreement, Standard & Poor's will also acquire the Goldman Sachs Sector Indexes, diversified and broadly representative indexes for healthcare, financial institutions, utilities, consumer companies and cyclical industries; and, the Goldman Sachs Technology Index, a broad composite measure of US traded technology stocks and six technology sub-indexes. About Goldman Sachs Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and other major financial centers around the world. About Standard & Poor's Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com. |
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