Index provider Bloomberg Indexes has completed the acquisition of UBS Australia bond indexes. The deal includes the benchmark UBS Composite Bond Index.
The portfolio will be renamed the ‘Bloomberg AusBond Indexes’ and will be calculated, maintained and licensed by Bloomberg.
It will include more than 500 bonds which are used as benchmarks for fixed income assets in Australia. Bloomberg will independently price the index family and publish the indexes daily. The indexes will continue to be available for distribution on multiple platforms.
Duncan Haig, head of FX, rates and credit at UBS Australia said that the disposal would allow UBS to concentrate fully on its Australian fixed income business. Srikant Dash, head of Bloomberg indexes said that the acquisition would provide “true independence to an index family.”