Industry’s second stock market index will exclude USA shares
Daubenthaler & Cie, the creator of the world’s first bike industry stock market index, is to offer a second bike biz index, this time focused on listed participants outside of the USA only. The index is now live via administrator Lixx.
Speaking to freelance journalist Jo Beckendorff writing for Radmarkt, the Stuttgart-based fund founders of the US Benefaktor Certificate Bike explained that the index is likely to go onto the main exchange by March 3rd.
Martina Daubenthaler is the Founder and Managing Partner of Daubenthaler & Cie and she explains that the initial index held groups where the diversification present went well beyond what could be considered a cycling investment and in fact in the USA it is more common to find cycling brands alongside hunting and ammunition labels under the same group. For investors this moral dilemma may alienate and as such you’ll not find Vista Outdoors, Garmin or Fox Factory among the indexed portfolio.
Instead the index comprises 18 equally weighted companies:
- Continental
- Michelin SCA
- Allegion PLC
- Technogym SpA
- Pirelli & C SpA
- Shimano Inc
- Panasonic
- Yamaha Corp
- Samsung Electronics
- Accell Group NV
- Stellantis NV
- Thule Group AB
- Mips AB
- Cheng Shin Rubber
- Kenda Rubber
- Merida Industry Co
- Giant Manufacturing
A particular attraction of the initial bike index for some investors is that 10% of the annual fee is to be set aside for efforts made by charity World Bicycle Relief. It is not said whether the ex-USA stock market index will offer the same, though the fund creator has similar efforts in place where it has trackers for ‘recycling’ (10% of the annual fees is the Deutsche Bundesstiftung Umwelt) and an index that tracks companies that do not perform animal testing, donating 10% to PETA Deutschland.
The ticker, once live on the Frankfurt Stock exchange will be WKN BENE15.
