Index Transparency – A Survey of European Investors’ Perceptions, Needs and Expectations

Noël Amenc, Frédéric Ducoulombier : This study is part of a long-standing and constant approach from EDHEC-Risk Institute to create the conditions for better index transparency.

Author(s):

Noel Amenc

Professor of finance at EDHEC Business School, director of EDHEC-Risk Institute, and chief executive officer of ERI Scientific Beta.

Frederic Ducoulombier

Associate professor of finance at EDHEC Business School and director of EDHEC Risk Institute–Asia.

The present study, which finally gives a voice to end-investors and not only to index providers, who too often express themselves on behalf of the investors, is the occasion to recall that the need for transparency expressed by the former is just as great as the dissatisfaction with respect to the information provided by the latter. In light of this observation, EDHEC-Risk Institute has constantly reaffirmed that there can be no serious reason for authorising an index provider to publish the performances of an index without the market being able to guarantee their veracity, credibility and robustness due to a lack of sufficient information. Therein lies the challenge for EDHEC-Risk Institute’s participation in the European and international debate on the regulation of indices, which should not substitute enhanced governance for the necessary transparency both on the methods and on the historical compositions of the indices.

Type: EDHEC Publication
Date: le 14/03/2014
Research Cluster : Finance

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