Ardour Capital Investments today launched a global alternative energy index called the Ardour Global index, said Joseph LaCorte, a managing director of consulting firm S Network and member of the AGI committee. The index, which includes 74 global alternative energy stocks, is broken into two subindexes, one covering companies in North America and the other covering companies in Europe.
"Some other alternative energy indexes are all domestic, and no one knows where the next breakthrough is going to come from," he said. "The other differentiator is that this is absolutely targeted to be a pure play. Some (alternative energy indexes) have utilities, and some include General Electric because they have a solar panel group."
Ardour officials plan to license the index "for a whole host of products," including unit investment trusts, structured notes and ETFs, both in the United States and Europe, he said.
