In recent years, ASX-listed technology companies have experienced tremendous growth in variety of applied technology, the number of companies and total market capitalisation.
In the past five years, the number of companies that would have been eligible for S&P/ASX All Technology Index (ASX Code: XTX) - had it existed - has nearly tripled, while the total market capitalization of these companies has increased more than 4-fold from AUD 17 billion to nearly AUD 170 billion*.
In a market heavily concentrated in banks and natural resource companies, the XTX captures the Australian technology sector in a comprehensive, yet precise way.
Importantly, XTX measures this broader, innovative and rapidly expanding part of the market across a range of technology areas including Information Technology, Health Care Technology, Interactive Media, Internet and Consumer Electronics.
*(Source: S&P Dow Jones Indices. Data based on the S&P/ASX All Technology Index and is as of the last day of each year).