Salmon firms dominate new index
Three quarters of the six companies listed on the newly launched Oslo Børs Seafood Index (OBSFX) are salmon producers, with Marine Harvest, Bakkafrost, SalMar, Lerøy Seafood, Norway Royal Salmon and Grieg Seafood all making the grade.
Austevoll Seafood and Havfisk are the other companies on the index, which has been designed to enable banks and fund managers to offer products and funds that track the index. The new exchange traded products will be ETNs (exchange traded notes), which are as easy to trade as shares.
Over the last ten years, the market value of the seafood companies listed on Oslo Børs has grown from NOK 14 billion to NOK 148 billion. Seafood has also grown as a proportion of the total market value of all companies listed on Oslo Børs during this time, increasing from 1% to over 8%.
The new seafood index is up 21.6% so far this year. For comparison, the Oslo Børs Benchmark Index is down 3.5%. Over the last ten years, the OSLSFX has risen by a remarkable 431%.
