Each week BusinessDesk and the NZ Herald’s Cooking the Books podcast tackles a different money problem. Today, it’s how index investing changed the game, and what’s next. Hosted by Frances Cook.
Now don’t tell me you forgot it was our anniversary. It’s a big one too: 30 years, the pearl anniversary.
What’s it the anniversary of? Well, I’m glad you asked.
January 29 marked 30 years of the world’s longest-surviving exchange-traded fund, Standard & Poor’s Depository Receipt, mostly known by the acronym SPDR, or as the “spider”.
It’s now one of the world’s largest funds.
A little closer to home, March 3 this year marked 20 years since the Standard & Poors NZX50 was launched.
That’s the china anniversary, for those paying attention.
Jokes aside, index investing has been huge for letting the little guy into the market, allowing them to invest in a wide range of companies with less effort. The rewards, without as much risk.
But some things have changed over the past few decades.
For the latest podcast, I talked to Tim Edwards, S&P’s global head of index investment strategy.