This release updates EDHECinfra’s equity and debt indices as of Q1 2021.
- The financials of 79 companies were updated in this quarter using the latest audited accounts and other contributed data.
Most of the revenue forecasts made in Q4 2020 remain applicable with some revisions in airport, road, UK port and rail companies based on the latest available information. Details are available here.
- In this quarter, we maintained our lower estimates of profitability in the transport companies that have been most impacted by Covid-19, i.e., airports, merchant roads, and ports, based on the latest available financial accounts. Profitability is an integral component in our asset pricing model and a lower estimate results in higher risk premia for these companies.
- In Q4 2020, one infra300 index constituent was substituted as the contract period of the outgoing project ended. It represented 0.002% of the index by value as of Q4 2020.
- The above company has also been removed from the broadmarket indices and corresponding sub-indices. It represented 0.001% of the broadmarket index by value as of Q4 2020.
- We have further added data to the Index Universe of 13 new companies with more than 2/3rd in the renewable energy sector, highlighting our continued focus to increase the granularity of our coverage in this sector. They represent 1.2% of the broad-market index by value as of Q1 2021.
- New indices
EDHECinfra may launch new indices or replace existing indices in certain segments as deemed necessary, for instance, if a significant amount of new private data becomes available. In such cases, the prevailing index will be marked as "to be discontinued" and we will stop publishing it after 3 quarters.
In Q1 2021, we have launched 3 new indices:
- Solar infrastructure index: a new quarterly index consisting of 32 solar power plants since 2011.
- Wind infrastructure index (expanded): an expanded version of the prevailing wind power plant index which includes the entire history of the newly added companies. The prevailing wind power index will be discontinued at the end of 2021.
- InfraGreen monthly index: a new monthly equally-weighted index consisting of all wind and solar power companies.
- Index Freeze: Index calibrations are now frozen until Q1 2020
- Analytics: No new analytics have been released in this quarter