Global X Announces Adoption of New Morningstar Index for Fund Enhancements
The Global X Morningstar Capital Allocation Leaders ETF (CPTL) aims to invest in companies that exhibit strong capital allocation practices
Global X Management Company LLC (Global X), the New York-based provider of exchange-traded funds (ETFs), today announced enhancements, including name and ticker changes, to the Global X Conscious Companies ETF (KRMA). It has been renamed the Global X Morningstar Capital Allocation Leaders ETF (CPTL or “the Fund”), effective today.
The Fund’s underlying index has also changed; it now tracks the Morningstar US Capital Allocation Leaders Index (“the Underlying Index”). Newly created by Morningstar, Inc. (“Morningstar”), a leading provider of independent investment insights, the Underlying Index tracks US companies that exhibit strong capital allocation practices, as identified by Morningstar’s proprietary Capital Allocation Rating framework.
“Our Morningstar US Capital Allocation Leaders Index is a new index, powered by Morningstar equity research. It is based on the Morningstar Capital Allocation Rating, a forward-looking, qualitative assessment assigned by Morningstar’s equity research team that evaluates how effectively a company’s leadership team deploys financial resources to benefit investors. We are proud to offer it to Global X to support their ETF clients,” said Andrew Lane, director of equity research, index strategies at Morningstar.
