ICRA Management Consulting Services (IMaCS) has announced the launch of ICRA Fixed Income Indices, providing performance representation for different segments of the Indian debt market.

Sanjeev Sinha, MD & CEO of IMaCS

The suite comprises four subsets of indices: ICRA Gilt Indices, ICRA Liquid Indices, ICRA Corporate Bond Indices and ICRA Composite Debt Indices. The indices are designed to help asset managers and financial services companies analyse debt portfolios, but may also be used as the underlying for new investment products, including ETFs.

Speaking about the launch, Sanjeev Sinha, MD & CEO of IMaCS, said, “At IMaCS, we are committed to providing independent and market representative indices that most effectively analyse various investments. ICRA Fixed Income Indices will enable asset managers and investors with effective benchmarks to measure the risk-return dynamics of the fixed income market.”

The ICRA Gilt Indices include short-term, medium-term, long-term and composite gilt as well as ten-year gilt indices.

The ICRA Liquid Indices, which includes a CBLO (collateralized borrowing and lending obligation) index, tracks the performance of short-term securities with less than 91 days to maturity.

The ICRA Corporate Bond Indices track the performance of AAA-rated short-term, medium-term, and long-term corporate debt securities.

Rebalancing of the liquid indices occurs every two weeks and on a monthly basis for the other subsets of indices.

IMaCS has been providing the valuation of fixed income instruments in the Indian market for nearly a decade. The firm plans to launch Hybrid Indices in the next few months.