Sole focus of new Japan stock index is finding winning shares
iStoxx MUTB Japan Quality 150 Index picks firms with high ROE, looks at cash flow and profits over 5 years
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Tokyo
JAPAN'S shame index has spawned a rival with one difference: its creators say that it is designed for investors.
Like the government-backed JPX-Nikkei Index 400, the iStoxx MUTB Japan Quality 150 Index started by Mitsubishi UFJ Trust & Banking Corp and Stoxx Ltd picks companies with high return on equity (ROE). But the new gauge does not care about changing their behaviour or choosing the biggest firms, its planners said, as its sole focus is finding winning shares. While the index only began trading on Aug 4, it beats the JPX-Nikkei 400 in back tests.
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