LPX AG is a leading research house in the field of Listed Alternatives and offers investment professionals a wide range of services.
As an index sponsor, LPX AG offers representative benchmarks for the Private Equity and Infrastructure asset classes.
Based on in-depth research, LPX AG offers investment advisory and research data to a broad array of financial institutions seeking liquid exposure to alternative asset classes.
Click on the links below to find out more about the benchmark indices:
LISTED PRIVATE EQUITY - LPX Index Series
The LPX Listed Private Equity Index Series were launched in 2004 on the basis of exchange-traded private equity companies. The indices allowed first and foremost for representative benchmarking of the private equity asset class. The design of the LPX indices is based on proprietary research ensuring the representative composition of the LPX Listed Private Equity Index Series and a differentiation by region and private equity investment styles.
The LPX Listed Private Equity Index Series serve as standard performance benchmarks for the private equity asset class and enable detailed performance measurement, efficient risk management and liquid access to the private equity asset class via index-linked financial products.
The LPX Listed Private Equity Index Series are market capitalisation-weighted stock indices, which meet current industry standards and regulatory requirements. Details regarding the index design and calculation methodology are published in the LPX Index Guide.
LISTED INFRASTRUCTURE - NMX Index Series
A key challenge in infrastructure investing is that there is no standard industry classification scheme available that ensures the consistent identification of a global universe of listed infrastructure companies. Particularly for indexing, a reliable industry classification scheme is crucial to the design of representative performance benchmarks. The industry classification scheme developed by LPX AG enables the identification and classification of basic infrastructure companies that own and/or operate a physical infrastructure network.
With the launch of the NMX Infrastructure Index Series, LPX AG has created an innovation in the field of infrastructure indexing. The design of the indices is based on a proprietary industry classification scheme, which ensures the representative composition of the NMX indices focusing on global basic infrastructure companies. The index members of the NMX indices are distinguished by the fact that they are categorised as 'basic infrastructure' companies, defined as companies, which own or operate a physical infrastructure network. Against this background, the NMX indices are suitable for mapping the risk and return characteristics of the infrastructure asset class.
LISTED DEBT - DLX Direct Lending Index
The DLX Direct Lending Index measures the risk and return characteristics of globally listed debt companies.
From an investor's perspective there are typically two ways to get exposure to private debt. The first way is via closed-end funds. Limited partners such as banks, insurance companies, pension funds or high net worth individuals commit capital to a fund. The limited partners commit their capital for a fixed time horizon.
A complement to buying a limited partnership interest is to get exposure to private debt through private debt companies traded on stock exchanges. However it can be challenging to identify the relevant companies within the equity universe. LPX has built up a comprehensive proprietary database of listed debt companies. Criteria for inclusion in the database are as follows:
- Provision of debt or mezzanine capital to unquoted companies
- At least 50% of total assets invested in debt or mezzanine capital
- Listed on a stock exchange