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GPW Benchmark Launches New Government Bond Index
GPW Benchmark announces the launch of the new GPWB-B3Y index, which becomes part of the Family of Government Bond Indices. The index covers government bonds with a remaining maturity exceeding three years and provides market participants with an additional tool for monitoring developments in the Polish government debt market. The index is based on TBSP reference prices determined on the Treasury BondSpot Poland market.
The indices belonging to the Family of Government Bond Indices reflect market conditions and trends on the wholesale government bond market operating within Treasury BondSpot Poland. Each index incorporates changes in the prices of bonds included in its portfolio, accrued interest, and income generated through the reinvestment of coupon payments, making it a total return index.
The GPWB-B3Y portfolio consists of Polish złoty-denominated fixed-rate government bonds and zero-coupon government bonds with a remaining maturity of more than three years. The index is designed to provide transparent exposure to the medium- and long-term segment of the domestic government bond market.
Table 1. Composition of the GPWB-B3Y - GPWB Poland Government Bond 3Y+ (GPWB-B3Y)
|
ISIN |
Name |
No of bonds |
Share |
|
PL0000115291 |
DS1033 |
66 836 632 |
11.76 |
|
PL0000117990 |
PS0730 |
69 481 869 |
11.19 |
|
PL0000118188 |
DS1035 |
65 315 097 |
10.54 |
|
PL0000116851 |
DS1034 |
59 375 538 |
9.69 |
|
PL0000117370 |
PS0130 |
55 439 705 |
9.35 |
|
PL0000111498 |
DS1029 |
58 755 701 |
9.26 |
|
PL0000118519 |
PS0131 |
55 493 049 |
9.07 |
|
PL0000118998 |
PS0731 |
55 918 677 |
8.67 |
|
PL0000113783 |
DS0432 |
63 684 961 |
8.67 |
|
PL0000112736 |
DS1030 |
58 098 574 |
8.26 |
|
PL0000119087 |
DS0436 |
22 195 119 |
3.54 |
The index is calculated using TBSP reference prices established in accordance with the rules governing the determination of reference prices on the Treasury BondSpot Poland market operated by BondSpot S.A. The methodology has been designed to provide a reliable and transparent representation of the performance of the eligible government bond universe.
The base value of the index is 1,000 points, and its base date is 30 December 2016. Historical index values dating back to the base date are available on the GPW Benchmark website from the first day of publication.
Chart 1. GPWB-B3Y Index Performance from December 30, 2019 to August 14, 2027
Like the other indices within the Family of Government Bond Indices, GPWB-B3Y values will be published three times a day.