JP Morgan launches commodity curve index
JP Morgan has launched its Commodity Curve Index (JPMCCI), a family of passive benchmark indices that are curve-neutral and diversified across a broad universe of commodities. The index captures investment opportunities across the futures curve while tracking the performance of 33 commodity markets.
“Despite the growth of commodity investor products over the past five years, the market still lacks an index which reflects available investment opportunities along the curve, and adapts to evolving liquidity conditions over time,” says John Normand, head of global currency strategy and cross-commodity research for JPMorgan. “JPMCCI fills this gap.
The index also avoids the front-end bias of traditional indices, so has offered lower volatility and higher risk-adjusted returns since its inception
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