{"id":143214,"date":"2026-09-22T11:06:52","date_gmt":"2026-09-22T15:06:52","guid":{"rendered":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/redrawing-the-institutional-investment-map-shifting-beyond-legacy-benchmarks\/"},"modified":"2026-09-24T06:18:55","modified_gmt":"2026-09-24T10:18:55","slug":"redrawing-the-institutional-investment-map-shifting-beyond-legacy-benchmarks","status":"publish","type":[3767],"link":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/redrawing-the-institutional-investment-map-shifting-beyond-legacy-benchmarks\/","title":{"rendered":"Redrawing the Institutional Investment Map: Shifting Beyond Legacy Benchmarks"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <style>section[data-anchor='row-6ab736610ef67'] {\n\t\t\t\tbackground-image: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&type=webp&url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/408970037.jpeg);\n\t\t\t  }<\/style>\n    <section class=\"bbg-row bg--has-media       text--white row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6ab736610ef67'>\n        \n        \n        <div\n            class=\"bbg-row--content bbg-height--40\"\n                    >\n            \n            <div\n    class=\"bbg-column bbg-column--valign-bottom\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px; color: #66abff;\">REPORT<\/span><\/strong><\/p>\n\n<\/div>\n    <h1 class=\"bbg-metadata bbg-metadata--title\">Redrawing the Institutional Investment Map: Shifting Beyond Legacy Benchmarks<\/h1>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><div\n    class=\"bbg-spacer bbg-spacer--md\"\n    >\n<\/div>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/markets\/\" rel=\"category tag\">\n                    Markets\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/technology\/\" rel=\"category tag\">\n                    Technology\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/trading\/\" rel=\"category tag\">\n                    Trading\n                <\/a>\n            <\/li>\n            <\/ul>\n<div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-jl-start bbg-row--full-bg-bleed\" data-anchor='row-6ab7366119036'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-3\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bbg_jumplinks-container vertical\"\n\tdata-link-color=\"var(--theme-link-color)\"\n\tdata-style=\"light\"\n\tdata-direction=\"vertical\"\n\tdata-mobile-behavior=\"dropdown\"\n>\n\t<style>\n\t\t.bbg_jumplinks-container .bbg_jumplinks-scroll:after {\n\t\t\tbackground: var(--theme-link-color);\n\t\t}\n\t<\/style>\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-9\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6ab736611b1cc'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-3\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8 bbg-column--offset-1\"\n    style=\"border-radius: 16px;\"\n    >\n    <p>[vc_row_inner css=&#8221;.vc_custom_1744197731584{background-color: #e6f3ff !important;}&#8221; el_class=&#8221;corners&#8221;][vc_column_inner width=&#8221;12\/12&#8243; css=&#8221;.vc_custom_1744403895517{padding-right: 48px !important;padding-left: 48px !important;}&#8221;]<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p style=\"font-size: 14px; font-weight: 600; letter-spacing: 1px;\">KEY TAKEAWAYS<\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<ul>\n<li>\n<div class=\"TypographyPresentation_31345133_root TypographyPresentation_31345133_root--medium RichText3-paragraph--withVSpacingNormal RichText3-paragraph HighlightSol_1625403506_highlightSol HighlightSol_1625403506_buildingBlock\">Geopolitical fragmentation, protectionist inflation and the AI infrastructure boom are transforming global equity markets, prompting investors to rethink their reliance on legacy benchmarks.<\/div>\n<\/li>\n<li>Changing trade patterns, capital flows and national-security priorities are redrawing the investment map across AI infrastructure, perceived safe havens and strategic autonomy.<\/li>\n<li>Generative AI annual revenue could reach $2.3 trillion by 2032, accelerating infrastructure investment, while big-tech capex is projected to reach approximately $750 billion in 2026 as AI infrastructure demand grows.<\/li>\n<\/ul>\n<div class=\"TypographyPresentation_31345133_root TypographyPresentation_31345133_root--medium RichText3-paragraph--withVSpacingNormal RichText3-paragraph HighlightSol_1625403506_highlightSol HighlightSol_1625403506_buildingBlock\"><\/div>\n\n<\/div>\n[\/vc_column_inner][\/vc_row_inner]<\/p>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--bottom-compact row-jump-link-section bbg-row--full-bg-bleed\" data-jump-link-label='Introduction: The Great Divergence of 2026' data-anchor='row-6ab736611d043' id='intro'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-3 bbg-column--halign-center esg-card\"\n    style=\"border-radius: 16px;\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8 bbg-column--offset-1\"\n    style=\"border-radius: 16px;\"\n    >\n    <p>[vc_row_inner][vc_column_inner width=&#8221;3\/12&#8243;]<div\n    class=\"bbg-spacer\"\n        style=\"height: 20px !important\"\n    >\n<\/div>[\/vc_column_inner][\/vc_row_inner][vc_row_inner css=&#8221;.vc_custom_1789597614895{background-image: url(https:\/\/assets.bbhub.io\/professional\/sites\/41\/amber-gradient.jpg?id=143433) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&#8221; el_class=&#8221;corners&#8221;][vc_column_inner width=&#8221;12\/12&#8243; css=&#8221;.vc_custom_1744402938014{padding-right: 48px !important;padding-bottom: 32px !important;padding-left: 48px !important;}&#8221;]<div\n    class=\"bbg-spacer\"\n        style=\"height: 160px !important\"\n    >\n<\/div><div\n    class=\"bbg-spacer\"\n        style=\"height: 25px !important\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2 style=\"color: white;\">Introduction<\/h2>\n\n<\/div>\n[\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=&#8221;3\/12&#8243;]<div\n    class=\"bbg-spacer\"\n        style=\"height: 20px !important\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<div\n    class=\"bbg-spacer bbg-spacer--md\"\n    >\n<\/div>[\/vc_column_inner][\/vc_row_inner]<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p style=\"color: #0062dd; font-size: 24px; font-weight: 400;\"><span class=\"TextRun SCXW175486830 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW175486830 BCX0\">The<\/span><span class=\"NormalTextRun SCXW175486830 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW175486830 BCX0\">Great<\/span><span class=\"NormalTextRun SCXW175486830 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW175486830 BCX0\">Divergence<\/span><span class=\"NormalTextRun SCXW175486830 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW175486830 BCX0\">of<\/span><span class=\"NormalTextRun SCXW175486830 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW175486830 BCX0\">2026<\/span><\/span><span class=\"EOP Selected SCXW175486830 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:363,&quot;335559738&quot;:75}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p aria-level=\"4\"><b><span data-contrast=\"none\">As 2026 progresses, the world has been propelled into a period of divergence, where geopolitics has become\u00a0the macro.<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:363,&quot;335559737&quot;:399,&quot;335559738&quot;:103,&quot;335559740&quot;:232}\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Markets around the world are shifting and repositioning in response to seismic geopolitical changes. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The changes are grounded in a sweeping realignment forged by US foreign and economic policy, particularly the US tariff agenda under the Trump administration in 2025-2026, which brought strategic autonomy and protectionist inflation to the forefront of global trade and debate.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This year\u2019s divergence marks the beginning of a sustained shift into what we\u2019re calling \u201cthe divergence decade\u201d for market players around the world.\u00a0 <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Against this backdrop of divergence, strategic autonomy and protectionist inflation, equity markets and investors are navigating a corporate investment boom in AI infrastructure (AI\/Infra).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investors are evolving in response to shifting geopolitics and markets \u2212 and Bloomberg is evolving with them.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Across global markets, shifting trade patterns, changing capital flows, and widening differences in regional performance are prompting market participants to rethink how they invest. As geopolitics reshapes the investment landscape, investors are increasingly looking beyond legacy benchmarks and toward index methodologies designed for a more fragmented and rapidly evolving global market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this report, we explore the emerging divergence decade and its impact on institutional investors and equity markets through three core themes: <\/span><\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:1024px\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"267\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/ChatGPT-Image-Sep-9-2026-01_19_49-PM-800x267.png\" class=\"bbg-single-image__image attachment-large\" alt=\"Three Themes in Changing Market\" title=\"Three Themes in Changing Market\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/ChatGPT-Image-Sep-9-2026-01_19_49-PM-800x267.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/ChatGPT-Image-Sep-9-2026-01_19_49-PM-552x184.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/ChatGPT-Image-Sep-9-2026-01_19_49-PM-768x257.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/ChatGPT-Image-Sep-9-2026-01_19_49-PM-1536x513.png 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/ChatGPT-Image-Sep-9-2026-01_19_49-PM-2048x684.png 2048w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/ChatGPT-Image-Sep-9-2026-01_19_49-PM-192x64.png 192w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p aria-level=\"4\"><strong><span class=\"TextRun SCXW223348496 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW223348496 BCX0\" data-ccp-parastyle=\"heading 3\">The<\/span><span class=\"NormalTextRun SCXW223348496 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW223348496 BCX0\" data-ccp-parastyle=\"heading 3\">Bloomberg<\/span><span class=\"NormalTextRun SCXW223348496 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW223348496 BCX0\" data-ccp-parastyle=\"heading 3\">Edge<\/span><\/span><span class=\"EOP Selected SCXW223348496 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:360,&quot;335559738&quot;:99}\">\u00a0<\/span><\/strong><\/p>\n<p><span style=\"font-weight: 400;\">We also showcase Bloomberg\u2019s own leading innovation in the Equity space. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This combines our signature advanced design, flexibility, and ecosystem integration with cross-channel synergy and flexible customizations that legacy providers often cannot match.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While many legacy providers continue to focus on broad, market-cap-weighted efficiency, Bloomberg is detecting and responding to an increasing demand for rules-based, transparent benchmarks that can thrive within this rapidly emerging paradigm.<\/span><\/p>\n<p dir=\"ltr\" style=\"line-height: 1.38; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/equity\/\"><span style=\"font-weight: 400;\">Bloomberg Equity Indices universe<\/span><\/a><span style=\"font-weight: 400;\"> spans over 30,000 equities and covers more than 99% of investable free-float market cap across 47+ countries. <\/span><\/p>\n<p dir=\"ltr\"><span style=\"font-weight: 400;\">With an unparalleled depth of perspective, our natively integrated Indices solutions position our clients to successfully navigate the divergence decade, and beyond. <\/span><\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 160px !important\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<div class=\"bb-gated-content\">\n    <div class=\"gated-content-gradient\"><\/div>\n    <div class=\"gated-content-container\">\n         <div  class=\"bbg-row-container\">     <section class=\"bbg-row  text--black bbg-row--full-bg-bleed\" data-anchor='row-6ab7366122d51'>                           <div             class=\"bbg-row--content\"                     >                          <div     class=\"bbg-column bbg-column--width-3\"     style=\"\"     >     <div class=\"bb-wysiwyg\" > <h3>Enter your details to access the report:<\/h3> <\/div> <\/div><div     class=\"bbg-column bbg-column--width-1\"     style=\"\"     >      <\/div><div     class=\"bbg-column bbg-column--width-8\"     style=\"\"     >     <form data-version=\"1.5.5\" name=\"202607-AIVoiceSurveillance_LeadGen_1053808 | Gated Web Content\" class=\"fba form-eefaf6ee-8475-407e-9e9f-091a2f7e0736 bbg-form-main visibility-hidden color-scheme-light\" novalidate lang=\"en\" method=\"POST\" action=\"javascript:;\">   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-3e88a9be-46b0-44d6-a008-d7a6b9a07e2f\" name=\"campaign_name\" type=\"hidden\" value=\"\" data-id=\"3e88a9be-46b0-44d6-a008-d7a6b9a07e2f\"  data-eloqua-id=\"42221\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div 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value=\"\" placeholder=\"\" aria-required=\"true\"> <div id=\"message-eefaf6ee-8475-407e-9e9f-091a2f7e0736-9510396e-7f0e-462a-a999-ea3d8e6526d1\" class=\"error-message hide\"><\/div>                     <\/div>   <\/div>   <div  style=\"--fba-mc: 1\">    <div class=\"vh\">   <label  for=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-8dbe2d55-aabf-4a62-96f3-8aaf0c482cbf\" ><span>Last name<\/span>   <\/label> <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-8dbe2d55-aabf-4a62-96f3-8aaf0c482cbf\" data-type=\"single-line-text\" data-id=\"8dbe2d55-aabf-4a62-96f3-8aaf0c482cbf\" name=\"lastName\" type=\"text\" value=\"\" placeholder=\"\" aria-required=\"true\"> <div id=\"message-eefaf6ee-8475-407e-9e9f-091a2f7e0736-8dbe2d55-aabf-4a62-96f3-8aaf0c482cbf\" class=\"error-message hide\"><\/div>                     <\/div>   <\/div>   <div  style=\"--fba-mc: 1\">    <div class=\"vh\">     <label  for=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-ed499f62-942d-44f8-b694-4442529087f5\" ><span>Business email<\/span>   <\/label> <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-ed499f62-942d-44f8-b694-4442529087f5\" name=\"emailAddress\" type=\"email\" value=\"\" placeholder=\"\" data-id=\"ed499f62-942d-44f8-b694-4442529087f5\" data-type=\"email\" aria-required=\"true\"  data-eloqua-id=\"42210\"  > <div id=\"message-eefaf6ee-8475-407e-9e9f-091a2f7e0736-ed499f62-942d-44f8-b694-4442529087f5\" class=\"error-message hide\"><\/div>                   <\/div>   <\/div>   <div  style=\"--fba-mc: 1\">    <div class=\"vh\">      <label  for=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-ce42c972-22a3-4c39-8d7d-33a721236288\" ><span>Business phone<\/span>   <\/label> <fieldset class=\"phone-input-container\" id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-ce42c972-22a3-4c39-8d7d-33a721236288\" data-type=\"phone\" data-id=\"ce42c972-22a3-4c39-8d7d-33a721236288\" data-content=\"-\"><select class=\"country-code\" name=\"busPhone-country-code\" data-id=\"ce42c972-22a3-4c39-8d7d-33a721236288\" aria-label=\"Country Code\" aria-required=\"true\">  <option value=\"\" data-country-name=\"\" data-calling-code=\"\">&#8205; -<\/option>  <option value=\"US\" data-country-name=\"United States\" data-calling-code=\"1\">United States (+1)<\/option>  <option value=\"ENG\" data-country-name=\"United Kingdom\" data-calling-code=\"44\">United Kingdom (+44)<\/option>  <option value=\"AF\" data-country-name=\"Afghanistan\" data-calling-code=\"93\">Afghanistan (+93)<\/option>  <option value=\"ALB\" data-country-name=\"Albania\" data-calling-code=\"355\">Albania (+355)<\/option>  <option value=\"DZ\" data-country-name=\"Algeria\" data-calling-code=\"213\">Algeria (+213)<\/option>  <option value=\"AND\" data-country-name=\"Andorra\" data-calling-code=\"376\">Andorra (+376)<\/option>  <option value=\"AN\" data-country-name=\"Angola\" data-calling-code=\"244\">Angola (+244)<\/option>  <option value=\"AGU\" data-country-name=\"Anguilla\" data-calling-code=\"1\">Anguilla (+1)<\/option>  <option value=\"AK\" data-country-name=\"Antigua and Barbuda\" data-calling-code=\"1\">Antigua and Barbuda (+1)<\/option>  <option value=\"AR\" data-country-name=\"Argentina\" data-calling-code=\"54\">Argentina (+54)<\/option>  <option value=\"ARM\" data-country-name=\"Armenia\" data-calling-code=\"374\">Armenia (+374)<\/option>  <option value=\"AL\" data-country-name=\"Australia\" data-calling-code=\"61\">Australia (+61)<\/option>  <option value=\"A\" data-country-name=\"Austria\" data-calling-code=\"43\">Austria (+43)<\/option>  <option value=\"AZ\" data-country-name=\"Azerbaijan\" data-calling-code=\"994\">Azerbaijan (+994)<\/option>  <option value=\"BS\" data-country-name=\"Bahamas\" data-calling-code=\"1\">Bahamas (+1)<\/option>  <option value=\"BH\" data-country-name=\"Bahrain\" data-calling-code=\"973\">Bahrain (+973)<\/option>  <option value=\"BJ\" data-country-name=\"Bangladesh\" data-calling-code=\"880\">Bangladesh (+880)<\/option>  <option value=\"WB\" data-country-name=\"Barbados\" data-calling-code=\"1\">Barbados (+1)<\/option>  <option value=\"B\" data-country-name=\"Belgium\" data-calling-code=\"32\">Belgium (+32)<\/option>  <option value=\"BZ\" data-country-name=\"Belize\" data-calling-code=\"501\">Belize (+501)<\/option>  <option value=\"BMD\" data-country-name=\"Bermuda\" data-calling-code=\"1\">Bermuda (+1)<\/option>  <option value=\"BT\" data-country-name=\"Bhutan\" data-calling-code=\"975\">Bhutan (+975)<\/option>  <option value=\"BV\" data-country-name=\"Bolivia\" data-calling-code=\"591\">Bolivia (+591)<\/option>  <option value=\"BOS\" data-country-name=\"Bosnia and Herzegovina\" data-calling-code=\"387\">Bosnia and Herzegovina (+387)<\/option>  <option value=\"BD\" data-country-name=\"Botswana\" data-calling-code=\"267\">Botswana (+267)<\/option>  <option value=\"BR\" data-country-name=\"Brazil\" data-calling-code=\"55\">Brazil (+55)<\/option>  <option value=\"BU\" data-country-name=\"Brunei\" data-calling-code=\"673\">Brunei (+673)<\/option>  <option value=\"BG\" data-country-name=\"Bulgaria\" data-calling-code=\"359\">Bulgaria (+359)<\/option>  <option value=\"BKF\" data-country-name=\"Burkina Faso\" data-calling-code=\"226\">Burkina Faso (+226)<\/option>  <option value=\"BUR\" data-country-name=\"Burundi\" data-calling-code=\"257\">Burundi (+257)<\/option>  <option value=\"CAM\" data-country-name=\"Cambodia\" data-calling-code=\"855\">Cambodia (+855)<\/option>  <option value=\"CMR\" data-country-name=\"Cameroon\" data-calling-code=\"237\">Cameroon (+237)<\/option>  <option value=\"CND\" data-country-name=\"Canada\" data-calling-code=\"1\">Canada (+1)<\/option>  <option value=\"CV\" data-country-name=\"Cape Verde\" data-calling-code=\"238\">Cape Verde (+238)<\/option>  <option value=\"CP\" data-country-name=\"Cayman Island\" data-calling-code=\"1\">Cayman Island (+1)<\/option>  <option value=\"RC\" data-country-name=\"Central African Republic\" data-calling-code=\"236\">Central African Republic (+236)<\/option>  <option value=\"CK\" data-country-name=\"Chile\" data-calling-code=\"56\">Chile (+56)<\/option>  <option value=\"CN\" data-country-name=\"China\" data-calling-code=\"86\">China (+86)<\/option>  <option value=\"CO\" data-country-name=\"Colombia\" data-calling-code=\"57\">Colombia (+57)<\/option>  <option value=\"KG\" data-country-name=\"Congo\" data-calling-code=\"242\">Congo (+242)<\/option>  <option value=\"CR\" data-country-name=\"Costa Rica\" data-calling-code=\"506\">Costa Rica (+506)<\/option>  <option value=\"CI\" data-country-name=\"Cote D&#x27;ivoire\" data-calling-code=\"225\">Cote D&#x27;ivoire (+225)<\/option>  <option value=\"CRO\" data-country-name=\"Croatia\" data-calling-code=\"385\">Croatia (+385)<\/option>  <option value=\"CY\" data-country-name=\"Cyprus\" data-calling-code=\"357\">Cyprus (+357)<\/option>  <option value=\"CC\" data-country-name=\"Czech Republic\" data-calling-code=\"420\">Czech Republic (+420)<\/option>  <option value=\"DK\" data-country-name=\"Denmark\" data-calling-code=\"45\">Denmark (+45)<\/option>  <option value=\"DMC\" data-country-name=\"Dominica\" data-calling-code=\"1\">Dominica (+1)<\/option>  <option value=\"DR\" data-country-name=\"Dominican Republic\" data-calling-code=\"1\">Dominican Republic (+1)<\/option>  <option value=\"ED\" data-country-name=\"Ecuador\" data-calling-code=\"593\">Ecuador (+593)<\/option>  <option value=\"UN\" data-country-name=\"Egypt\" data-calling-code=\"20\">Egypt (+20)<\/option>  <option value=\"SR\" data-country-name=\"El Salvador\" data-calling-code=\"503\">El Salvador (+503)<\/option>  <option value=\"GQ\" data-country-name=\"Equatorial Guinea\" data-calling-code=\"240\">Equatorial Guinea (+240)<\/option>  <option value=\"EST\" data-country-name=\"Estonia\" data-calling-code=\"372\">Estonia (+372)<\/option>  <option value=\"SWZ\" data-country-name=\"Eswatini\" data-calling-code=\"268\">Eswatini (+268)<\/option>  <option value=\"ET\" data-country-name=\"Ethiopia\" data-calling-code=\"251\">Ethiopia (+251)<\/option>  <option value=\"FO\" data-country-name=\"Faroe Islands\" data-calling-code=\"298\">Faroe Islands (+298)<\/option>  <option value=\"FJ\" data-country-name=\"Fiji\" data-calling-code=\"679\">Fiji (+679)<\/option>  <option value=\"SF\" data-country-name=\"Finland\" data-calling-code=\"358\">Finland (+358)<\/option>  <option value=\"F\" data-country-name=\"France\" data-calling-code=\"33\">France (+33)<\/option>  <option value=\"FG\" data-country-name=\"French Guiana\" data-calling-code=\"594\">French Guiana (+594)<\/option>  <option value=\"FP\" data-country-name=\"French Polynesia\" data-calling-code=\"689\">French Polynesia (+689)<\/option>  <option value=\"GO\" data-country-name=\"Gabon\" data-calling-code=\"241\">Gabon (+241)<\/option>  <option value=\"GM\" data-country-name=\"Gambia\" data-calling-code=\"1\">Gambia (+1)<\/option>  <option value=\"GE\" data-country-name=\"Georgia\" data-calling-code=\"995\">Georgia (+995)<\/option>  <option value=\"D\" data-country-name=\"Germany\" data-calling-code=\"49\">Germany (+49)<\/option>  <option value=\"GH\" data-country-name=\"Ghana\" data-calling-code=\"233\">Ghana (+233)<\/option>  <option value=\"GK\" data-country-name=\"Gibraltar\" data-calling-code=\"350\">Gibraltar (+350)<\/option>  <option value=\"GR\" data-country-name=\"Greece\" data-calling-code=\"30\">Greece (+30)<\/option>  <option value=\"GD\" data-country-name=\"Greenland\" data-calling-code=\"299\">Greenland (+299)<\/option>  <option value=\"GA\" data-country-name=\"Grenada\" data-calling-code=\"1\">Grenada (+1)<\/option>  <option value=\"GM\" data-country-name=\"Guam\" data-calling-code=\"1\">Guam (+1)<\/option>  <option value=\"GU\" data-country-name=\"Guatemala\" data-calling-code=\"502\">Guatemala (+502)<\/option>  <option value=\"GN\" data-country-name=\"Guinea\" data-calling-code=\"224\">Guinea (+224)<\/option>  <option value=\"GY\" data-country-name=\"Guyana\" data-calling-code=\"592\">Guyana (+592)<\/option>  <option value=\"HI\" data-country-name=\"Haiti\" data-calling-code=\"509\">Haiti (+509)<\/option>  <option value=\"VA\" data-country-name=\"Holy See (Vatican City State)\" data-calling-code=\"39\">Holy See (Vatican City State) (+39)<\/option>  <option value=\"HO\" data-country-name=\"Honduras\" data-calling-code=\"504\">Honduras (+504)<\/option>  <option value=\"HK\" data-country-name=\"Hong Kong\" data-calling-code=\"852\">Hong Kong (+852)<\/option>  <option value=\"HY\" data-country-name=\"Hungary\" data-calling-code=\"36\">Hungary (+36)<\/option>  <option value=\"IC\" data-country-name=\"Iceland\" data-calling-code=\"354\">Iceland (+354)<\/option>  <option value=\"IN\" data-country-name=\"India\" data-calling-code=\"91\">India (+91)<\/option>  <option value=\"IA\" data-country-name=\"Indonesia\" data-calling-code=\"62\">Indonesia (+62)<\/option>  <option value=\"IQ\" data-country-name=\"Iraq\" data-calling-code=\"964\">Iraq (+964)<\/option>  <option value=\"IRL\" data-country-name=\"Ireland\" data-calling-code=\"353\">Ireland (+353)<\/option>  <option value=\"IS\" data-country-name=\"Israel\" data-calling-code=\"972\">Israel (+972)<\/option>  <option value=\"I\" data-country-name=\"Italy\" data-calling-code=\"39\">Italy (+39)<\/option>  <option value=\"JA\" data-country-name=\"Jamaica\" data-calling-code=\"1\">Jamaica (+1)<\/option>  <option value=\"J\" data-country-name=\"Japan\" data-calling-code=\"81\">Japan (+81)<\/option>  <option value=\"JO\" data-country-name=\"Jordan\" data-calling-code=\"962\">Jordan (+962)<\/option>  <option value=\"KAZ\" data-country-name=\"Kazakhstan\" data-calling-code=\"7\">Kazakhstan (+7)<\/option>  <option value=\"KE\" data-country-name=\"Kenya\" data-calling-code=\"254\">Kenya (+254)<\/option>  <option value=\"K\" data-country-name=\"Kuwait\" data-calling-code=\"965\">Kuwait (+965)<\/option>  <option value=\"KY\" data-country-name=\"Kyrgyzstan\" data-calling-code=\"996\">Kyrgyzstan (+996)<\/option>  <option value=\"LS\" data-country-name=\"Laos\" data-calling-code=\"856\">Laos (+856)<\/option>  <option value=\"LAT\" data-country-name=\"Latvia\" data-calling-code=\"371\">Latvia (+371)<\/option>  <option value=\"LE\" data-country-name=\"Lebanon\" data-calling-code=\"961\">Lebanon (+961)<\/option>  <option value=\"LST\" data-country-name=\"Lesotho\" data-calling-code=\"266\">Lesotho (+266)<\/option>  <option value=\"LI\" data-country-name=\"Liberia\" data-calling-code=\"231\">Liberia (+231)<\/option>  <option value=\"LY\" data-country-name=\"Libya\" data-calling-code=\"218\">Libya (+218)<\/option>  <option value=\"LIE\" data-country-name=\"Liechtenstein\" data-calling-code=\"423\">Liechtenstein (+423)<\/option>  <option value=\"LIT\" data-country-name=\"Lithuania\" data-calling-code=\"370\">Lithuania (+370)<\/option>  <option value=\"L\" data-country-name=\"Luxembourg\" data-calling-code=\"352\">Luxembourg (+352)<\/option>  <option value=\"OM\" data-country-name=\"Macau\" data-calling-code=\"853\">Macau (+853)<\/option>  <option value=\"MAC\" data-country-name=\"Macedonia\" data-calling-code=\"389\">Macedonia (+389)<\/option>  <option value=\"MG\" data-country-name=\"Madagascar\" data-calling-code=\"261\">Madagascar (+261)<\/option>  <option value=\"MI\" data-country-name=\"Malawi\" data-calling-code=\"265\">Malawi (+265)<\/option>  <option value=\"MA\" data-country-name=\"Malaysia\" data-calling-code=\"60\">Malaysia (+60)<\/option>  <option value=\"MV\" data-country-name=\"Maldives\" data-calling-code=\"960\">Maldives (+960)<\/option>  <option value=\"ML\" data-country-name=\"Mali\" data-calling-code=\"223\">Mali (+223)<\/option>  <option value=\"MW\" data-country-name=\"Malta\" data-calling-code=\"356\">Malta (+356)<\/option>  <option value=\"MS\" data-country-name=\"Marshall Islands\" data-calling-code=\"1\">Marshall Islands (+1)<\/option>  <option value=\"MAU\" data-country-name=\"Mauritania\" data-calling-code=\"222\">Mauritania (+222)<\/option>  <option value=\"IW\" data-country-name=\"Mauritius\" data-calling-code=\"230\">Mauritius (+230)<\/option>  <option value=\"MX\" data-country-name=\"Mexico\" data-calling-code=\"52\">Mexico (+52)<\/option>  <option value=\"MOL\" data-country-name=\"Moldova\" data-calling-code=\"373\">Moldova (+373)<\/option>  <option value=\"MC\" data-country-name=\"Monaco\" data-calling-code=\"377\">Monaco (+377)<\/option>  <option value=\"MH\" data-country-name=\"Mongolia\" data-calling-code=\"976\">Mongolia (+976)<\/option>  <option value=\"MON\" data-country-name=\"Montenegro\" data-calling-code=\"382\">Montenegro (+382)<\/option>  <option value=\"MZ\" data-country-name=\"Morocco\" data-calling-code=\"212\">Morocco (+212)<\/option>  <option value=\"MO\" data-country-name=\"Mozambique\" data-calling-code=\"258\">Mozambique (+258)<\/option>  <option value=\"MY\" data-country-name=\"Myanmar\" data-calling-code=\"95\">Myanmar (+95)<\/option>  <option value=\"WK\" data-country-name=\"Namibia\" data-calling-code=\"264\">Namibia (+264)<\/option>  <option value=\"NP\" data-country-name=\"Nepal\" data-calling-code=\"977\">Nepal (+977)<\/option>  <option value=\"NL\" data-country-name=\"Netherlands\" data-calling-code=\"31\">Netherlands (+31)<\/option>  <option value=\"NZ\" data-country-name=\"New Zealand\" data-calling-code=\"64\">New Zealand (+64)<\/option>  <option value=\"NU\" data-country-name=\"Nicaragua\" data-calling-code=\"505\">Nicaragua (+505)<\/option>  <option value=\"NGR\" data-country-name=\"Niger\" data-calling-code=\"227\">Niger (+227)<\/option>  <option value=\"NG\" data-country-name=\"Nigeria\" data-calling-code=\"234\">Nigeria (+234)<\/option>  <option value=\"N\" data-country-name=\"Norway\" data-calling-code=\"47\">Norway (+47)<\/option>  <option value=\"MB\" data-country-name=\"Oman\" data-calling-code=\"968\">Oman (+968)<\/option>  <option value=\"PK\" data-country-name=\"Pakistan\" data-calling-code=\"92\">Pakistan (+92)<\/option>  <option value=\"KF\" data-country-name=\"Palau\" data-calling-code=\"680\">Palau (+680)<\/option>  <option value=\"PA\" data-country-name=\"Panama\" data-calling-code=\"507\">Panama (+507)<\/option>  <option value=\"PNG\" data-country-name=\"Papua New Guinea\" data-calling-code=\"675\">Papua New Guinea (+675)<\/option>  <option value=\"PY\" data-country-name=\"Paraguay\" data-calling-code=\"595\">Paraguay (+595)<\/option>  <option value=\"PE\" data-country-name=\"Peru\" data-calling-code=\"51\">Peru (+51)<\/option>  <option value=\"PH\" data-country-name=\"Philippines\" data-calling-code=\"63\">Philippines (+63)<\/option>  <option value=\"PL\" data-country-name=\"Poland\" data-calling-code=\"48\">Poland (+48)<\/option>  <option value=\"P\" data-country-name=\"Portugal\" data-calling-code=\"351\">Portugal (+351)<\/option>  <option value=\"DH\" data-country-name=\"Qatar\" data-calling-code=\"974\">Qatar (+974)<\/option>  <option value=\"RU\" data-country-name=\"Romania\" data-calling-code=\"40\">Romania (+40)<\/option>  <option value=\"RW\" data-country-name=\"Rwanda\" data-calling-code=\"250\">Rwanda (+250)<\/option>  <option value=\"KC\" data-country-name=\"Saint Kitts and Nevis\" data-calling-code=\"1\">Saint Kitts and Nevis (+1)<\/option>  <option value=\"LC\" data-country-name=\"Saint Lucia\" data-calling-code=\"1\">Saint Lucia (+1)<\/option>  <option value=\"VQ\" data-country-name=\"Saint Vincent and the Grenadines\" data-calling-code=\"1\">Saint Vincent and the Grenadines (+1)<\/option>  <option value=\"SX\" data-country-name=\"Samoa\" data-calling-code=\"685\">Samoa (+685)<\/option>  <option value=\"SM\" data-country-name=\"San Marino\" data-calling-code=\"378\">San Marino (+378)<\/option>  <option value=\"SA\" data-country-name=\"Saudi Arabia\" data-calling-code=\"966\">Saudi Arabia (+966)<\/option>  <option value=\"SG\" data-country-name=\"Senegal\" data-calling-code=\"221\">Senegal (+221)<\/option>  <option value=\"SER\" data-country-name=\"Serbia\" data-calling-code=\"381\">Serbia (+381)<\/option>  <option value=\"SEY\" data-country-name=\"Seychelles\" data-calling-code=\"248\">Seychelles (+248)<\/option>  <option value=\"SRL\" data-country-name=\"Sierra Leone\" data-calling-code=\"232\">Sierra Leone (+232)<\/option>  <option value=\"SP\" data-country-name=\"Singapore\" data-calling-code=\"65\">Singapore (+65)<\/option>  <option value=\"SXM\" data-country-name=\"Sint Maarten\" data-calling-code=\"1\">Sint Maarten (+1)<\/option>  <option value=\"SLK\" data-country-name=\"Slovakia\" data-calling-code=\"421\">Slovakia (+421)<\/option>  <option value=\"SLN\" data-country-name=\"Slovenia\" data-calling-code=\"386\">Slovenia (+386)<\/option>  <option value=\"HQ\" data-country-name=\"Solomon Islands\" data-calling-code=\"677\">Solomon Islands (+677)<\/option>  <option value=\"SO\" data-country-name=\"Somalia\" data-calling-code=\"252\">Somalia (+252)<\/option>  <option value=\"SOA\" data-country-name=\"South Africa\" data-calling-code=\"27\">South Africa (+27)<\/option>  <option value=\"KS\" data-country-name=\"South Korea\" data-calling-code=\"82\">South Korea (+82)<\/option>  <option value=\"E\" data-country-name=\"Spain\" data-calling-code=\"34\">Spain (+34)<\/option>  <option value=\"CE\" data-country-name=\"Sri Lanka\" data-calling-code=\"94\">Sri Lanka (+94)<\/option>  <option value=\"SD\" data-country-name=\"Sudan\" data-calling-code=\"249\">Sudan (+249)<\/option>  <option value=\"SUR\" data-country-name=\"Suriname\" data-calling-code=\"597\">Suriname (+597)<\/option>  <option value=\"S\" data-country-name=\"Sweden\" data-calling-code=\"46\">Sweden (+46)<\/option>  <option value=\"CH\" data-country-name=\"Switzerland\" data-calling-code=\"41\">Switzerland (+41)<\/option>  <option value=\"TI\" data-country-name=\"Taiwan\" data-calling-code=\"886\">Taiwan (+886)<\/option>  <option value=\"TJ\" data-country-name=\"Tajikistan\" data-calling-code=\"992\">Tajikistan (+992)<\/option>  <option value=\"TA\" data-country-name=\"Tanzania\" data-calling-code=\"255\">Tanzania (+255)<\/option>  <option value=\"TH\" data-country-name=\"Thailand\" data-calling-code=\"66\">Thailand (+66)<\/option>  <option value=\"TP\" data-country-name=\"Timor-Leste\" data-calling-code=\"670\">Timor-Leste (+670)<\/option>  <option value=\"TG\" data-country-name=\"Togo\" data-calling-code=\"228\">Togo (+228)<\/option>  <option value=\"TS\" data-country-name=\"Tonga\" data-calling-code=\"676\">Tonga (+676)<\/option>  <option value=\"WG\" data-country-name=\"Trinidad and Tobago\" data-calling-code=\"1\">Trinidad and Tobago (+1)<\/option>  <option value=\"TN\" data-country-name=\"Tunisia\" data-calling-code=\"216\">Tunisia (+216)<\/option>  <option value=\"TR\" data-country-name=\"Turkey\" data-calling-code=\"90\">Turkey (+90)<\/option>  <option value=\"TM\" data-country-name=\"Turkmenistan\" data-calling-code=\"993\">Turkmenistan (+993)<\/option>  <option value=\"TCA\" data-country-name=\"Turks and Caicos\" data-calling-code=\"1\">Turks and Caicos (+1)<\/option>  <option value=\"UG\" data-country-name=\"Uganda\" data-calling-code=\"256\">Uganda (+256)<\/option>  <option value=\"UKR\" data-country-name=\"Ukraine\" data-calling-code=\"380\">Ukraine (+380)<\/option>  <option value=\"EM\" data-country-name=\"United Arab Emirates\" data-calling-code=\"971\">United Arab Emirates (+971)<\/option>  <option value=\"UY\" data-country-name=\"Uruguay\" data-calling-code=\"598\">Uruguay (+598)<\/option>  <option value=\"UZB\" data-country-name=\"Uzbekistan\" data-calling-code=\"998\">Uzbekistan (+998)<\/option>  <option value=\"VTU\" data-country-name=\"Vanuatu\" data-calling-code=\"678\">Vanuatu (+678)<\/option>  <option value=\"VC\" data-country-name=\"Venezuela\" data-calling-code=\"58\">Venezuela (+58)<\/option>  <option value=\"VT\" data-country-name=\"Vietnam\" data-calling-code=\"84\">Vietnam (+84)<\/option>  <option value=\"YE\" data-country-name=\"Yemen\" data-calling-code=\"967\">Yemen (+967)<\/option>  <option value=\"ZA\" data-country-name=\"Zambia\" data-calling-code=\"260\">Zambia (+260)<\/option>  <option value=\"ZW\" data-country-name=\"Zimbabwe\" data-calling-code=\"263\">Zimbabwe (+263)<\/option>  <\/select><input name=\"busPhone\" type=\"tel\" value=\"\" placeholder=\"\"  data-eloqua-id=\"42211\"  role=\"textbox\" aria-label=\"Phone Number\" aria-required=\"true\"><\/fieldset> <div id=\"message-eefaf6ee-8475-407e-9e9f-091a2f7e0736-ce42c972-22a3-4c39-8d7d-33a721236288\" class=\"error-message hide\"><\/div>                  <\/div>   <\/div>   <div  style=\"--fba-mc: 1\">    <div class=\"vh\">   <label  for=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-04e4037e-fe5b-4217-bb05-7bec049836c0\" ><span>Company<\/span>   <\/label> <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-04e4037e-fe5b-4217-bb05-7bec049836c0\" data-type=\"single-line-text\" data-id=\"04e4037e-fe5b-4217-bb05-7bec049836c0\" name=\"company\" type=\"text\" value=\"\" placeholder=\"\" aria-required=\"true\"> <div id=\"message-eefaf6ee-8475-407e-9e9f-091a2f7e0736-04e4037e-fe5b-4217-bb05-7bec049836c0\" class=\"error-message hide\"><\/div>                     <\/div>   <\/div>   <div  style=\"--fba-mc: 1\">    <div class=\"vh\">          <label  for=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-d085c00a-b6c5-46a6-90c9-abee66bf86b5\" ><span>Job role<\/span>   <\/label> <select id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-d085c00a-b6c5-46a6-90c9-abee66bf86b5\" data-id=\"d085c00a-b6c5-46a6-90c9-abee66bf86b5\" data-type=\"dropdown\" name=\"jobRole1\" aria-required=\"true\">   <option value=\"\"  >Select one<\/option>    <option value=\"RL-ACCT\"  >Accountant \/ Controller<\/option>    <option value=\"RL-AESS\"  >Administrative \/ Assistant<\/option>    <option value=\"RL-ANST\"  >Analyst<\/option>    <option value=\"RL-APPD\"  >Application Developer<\/option>    <option value=\"RL-APPO\"  >Application Owner<\/option>    <option value=\"RL-BKOF\"  >Back Office<\/option>    <option value=\"RL-BRKR\"  >Broker<\/option>    <option value=\"RL-BSDV\"  >Business Development \/ Sales<\/option>    <option value=\"RL-BSMG\"  >Business Manager<\/option>    <option value=\"RL-CPTL\"  >Capital Markets<\/option>    <option value=\"RL-CSMG\"  >Cash Manager<\/option>    <option value=\"RL-ENFC\"  >Chief Compliance Officer<\/option>    <option value=\"RL-CDO\"  >Chief Data Officer<\/option>    <option value=\"RL-CDVO\"  >Chief Diversity Officer<\/option>    <option value=\"RL-CEO\"  >Chief Executive Officer<\/option>    <option value=\"RL-CFO\"  >Chief Financial Officer<\/option>    <option value=\"RL-CINF\"  >Chief Information Officer<\/option>    <option value=\"RL-CINV\"  >Chief Investment Officer<\/option>    <option value=\"RL-CHST\"  >Chief of Staff<\/option>    <option value=\"RL-COO\"  >Chief Operating Officer<\/option>    <option value=\"RL-CRO\"  >Chief Risk Officer<\/option>    <option value=\"RL-CSO\"  >Chief Sustainability Officer<\/option>    <option value=\"RL-CTO\"  >Chief Technology Officer<\/option>    <option value=\"RL-CLSR\"  >Client Services<\/option>    <option value=\"RL-COLL\"  >Collateral Management<\/option>    <option value=\"RL-COMP\"  >Compliance<\/option>    <option value=\"RL-CONS\"  >Consultant<\/option>    <option value=\"RL-CTOW\"  >Control Owner<\/option>    <option value=\"RL-CACC\"  >Corporate Access<\/option>    <option value=\"RL-CRPC\"  >Corporate Communications<\/option>    <option value=\"RL-CDEV\"  >Corporate Development<\/option>    <option value=\"RL-CFMA\"  >Corporate Finance<\/option>    <option value=\"RL-DSHD\"  >Desk Head<\/option>    <option value=\"RL-DVFR\"  >Development \/ Fundraiser<\/option>    <option value=\"RL-ECMS\"  >Economist<\/option>    <option value=\"RL-ENGR\"  >Engineer<\/option>    <option value=\"RL-ENTA\"  >Enterprise Architect<\/option>    <option value=\"RL-EXEC\"  >Executive Officer<\/option>    <option value=\"RL-FACU\"  >Faculty<\/option>    <option value=\"RL-FIAD\"  >Financial Advisor<\/option>    <option value=\"RL-GBHD\"  >Global Head<\/option>    <option value=\"RL-GOVF\"  >Government Affairs<\/option>    <option value=\"RL-GOVC\"  >Government Contracting<\/option>    <option value=\"RL-LAPL\"  >Government Official<\/option>    <option value=\"RL-HODG\"  >Head of Digital<\/option>    <option value=\"RL-UNDE\"  >Insurance Underwriter<\/option>    <option value=\"RL-INT\"  >Intern<\/option>    <option value=\"RL-INVB\"  >Investment Banker<\/option>    <option value=\"RL-INVR\"  >Investor Relations<\/option>    <option value=\"RL-LAW\"  >Lawyer<\/option>    <option value=\"RL-LOAN\"  >Loan Officer<\/option>    <option value=\"RL-MDC\"  >Market Data \/ Technology<\/option>    <option value=\"RL-MRMK\"  >Market Maker<\/option>    <option value=\"RL-MMRK\"  >Marketing<\/option>    <option value=\"RL-MEDI\"  >Media<\/option>    <option value=\"RL-MDOF\"  >Middle Office<\/option>    <option value=\"RL-NWSE\"  >News Editor<\/option>    <option value=\"RL-ORIN\"  >Originator<\/option>    <option value=\"RL-PORT\"  >Portfolio Manager<\/option>    <option value=\"RL-PRIM\"  >Prime Broker<\/option>    <option value=\"RL-PRIB\"  >Private Banker<\/option>    <option value=\"RL-PRVE\"  >Private Equity<\/option>    <option value=\"RL-PMGR\"  >Procurement<\/option>    <option value=\"RL-PRDC\"  >Product Control<\/option>    <option value=\"RL-PRMR\"  >Product Manager<\/option>    <option value=\"RL-PROF\"  >Professor<\/option>    <option value=\"RL-PM\"  >Project Manager<\/option>    <option value=\"RL-PPTR\"  >Proprietary Trader<\/option>    <option value=\"RL-QUAN\"  >Quant<\/option>    <option value=\"RL-RECR\"  >Recruiter<\/option>    <option value=\"RL-RGHD\"  >Regional Head<\/option>    <option value=\"RL-RINA\"  >Registered Investment Advisor<\/option>    <option value=\"RL-REGR\"  >Regulatory Reporting<\/option>    <option value=\"RL-RADM\"  >Research Admin<\/option>    <option value=\"RL-RSAL\"  >Research Sales<\/option>    <option value=\"RL-RISK\"  >Risk Manager<\/option>    <option value=\"RL-SATA\"  >Sales Assistant \/ Trading Assistant<\/option>    <option value=\"RL-SLSP\"  >Sales Support<\/option>    <option value=\"RL-SATR\"  >Sales Trader<\/option>    <option value=\"RL-SALE\"  >Salesperson<\/option>    <option value=\"RL-SECL\"  >Securities Lending<\/option>    <option value=\"RL-SETL\"  >Settlements<\/option>    <option value=\"RL-STRG\"  >Strategist<\/option>    <option value=\"RL-STRR\"  >Structurer<\/option>    <option value=\"RL-STIN\"  >Student<\/option>    <option value=\"RL-ORIG\"  >Syndicator<\/option>    <option value=\"RL-SYSA\"  >System Administrator<\/option>    <option value=\"RL-TESP\"  >Technical Support<\/option>    <option value=\"RL-TECH\"  >Technology<\/option>    <option value=\"RL-TRSP\"  >Trade Support<\/option>    <option value=\"RL-TRDR\"  >Trader<\/option>    <option value=\"RL-TRSY\"  >Treasurer<\/option>    <option value=\"RL-VENC\"  >Venture Capitalist<\/option>    <option value=\"RL-OTHR\"  >Not Applicable<\/option>   <\/select> <div id=\"message-eefaf6ee-8475-407e-9e9f-091a2f7e0736-d085c00a-b6c5-46a6-90c9-abee66bf86b5\" class=\"error-message hide\"><\/div>              <\/div>   <\/div>   <div  style=\"--fba-mc: 1\">    <div class=\"vh\">   <label  for=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-377fc0c9-3558-4465-8eb5-753b60231bae\" ><span>City<\/span>   <\/label> <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-377fc0c9-3558-4465-8eb5-753b60231bae\" data-type=\"single-line-text\" data-id=\"377fc0c9-3558-4465-8eb5-753b60231bae\" name=\"city\" type=\"text\" value=\"\" placeholder=\"\" aria-required=\"true\"> <div id=\"message-eefaf6ee-8475-407e-9e9f-091a2f7e0736-377fc0c9-3558-4465-8eb5-753b60231bae\" class=\"error-message hide\"><\/div>                     <\/div>   <\/div>   <div  style=\"--fba-mc: 1\">    <div class=\"vh\">          <label  for=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-9fc98c02-300f-46f4-b365-096d808c296f\" ><span>Country or region<\/span>   <\/label> <select id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-9fc98c02-300f-46f4-b365-096d808c296f\" data-id=\"9fc98c02-300f-46f4-b365-096d808c296f\" data-type=\"dropdown\" name=\"country\" aria-required=\"true\">   <option value=\"\"  selected  >Select one<\/option>    <option value=\"US\"  >United States<\/option>    <option value=\"ENG\"  >United Kingdom<\/option>    <option value=\"AF\"  >Afghanistan<\/option>    <option value=\"ALB\"  >Albania<\/option>    <option value=\"DZ\"  >Algeria<\/option>    <option value=\"AND\"  >Andorra<\/option>    <option value=\"AN\"  >Angola<\/option>    <option value=\"AGU\"  >Anguilla<\/option>    <option value=\"AK\"  >Antigua and Barbuda<\/option>    <option value=\"AR\"  >Argentina<\/option>    <option value=\"ARM\"  >Armenia<\/option>    <option value=\"AL\"  >Australia<\/option>    <option value=\"A\"  >Austria<\/option>    <option value=\"AZ\"  >Azerbaijan<\/option>    <option value=\"BS\"  >Bahamas<\/option>    <option value=\"BH\"  >Bahrain<\/option>    <option value=\"BJ\"  >Bangladesh<\/option>    <option value=\"WB\"  >Barbados<\/option>    <option value=\"B\"  >Belgium<\/option>    <option value=\"BZ\"  >Belize<\/option>    <option value=\"BMD\"  >Bermuda<\/option>    <option value=\"BT\"  >Bhutan<\/option>    <option value=\"BV\"  >Bolivia<\/option>    <option value=\"BOS\"  >Bosnia and Herzegovina<\/option>    <option value=\"BD\"  >Botswana<\/option>    <option value=\"BR\"  >Brazil<\/option>    <option value=\"BU\"  >Brunei<\/option>    <option value=\"BG\"  >Bulgaria<\/option>    <option value=\"BKF\"  >Burkina Faso<\/option>    <option value=\"BUR\"  >Burundi<\/option>    <option value=\"CAM\"  >Cambodia<\/option>    <option value=\"CMR\"  >Cameroon<\/option>    <option value=\"CND\"  >Canada<\/option>    <option value=\"CV\"  >Cape Verde<\/option>    <option value=\"CP\"  >Cayman Island<\/option>    <option value=\"RC\"  >Central African Republic<\/option>    <option value=\"CK\"  >Chile<\/option>    <option value=\"CN\"  >China<\/option>    <option value=\"CO\"  >Colombia<\/option>    <option value=\"KG\"  >Congo<\/option>    <option value=\"CR\"  >Costa Rica<\/option>    <option value=\"CI\"  >Cote D&#x27;ivoire<\/option>    <option value=\"CRO\"  >Croatia<\/option>    <option value=\"CY\"  >Cyprus<\/option>    <option value=\"CC\"  >Czech Republic<\/option>    <option value=\"DK\"  >Denmark<\/option>    <option value=\"DMC\"  >Dominica<\/option>    <option value=\"DR\"  >Dominican Republic<\/option>    <option value=\"ED\"  >Ecuador<\/option>    <option value=\"UN\"  >Egypt<\/option>    <option value=\"SR\"  >El Salvador<\/option>    <option value=\"GQ\"  >Equatorial Guinea<\/option>    <option value=\"EST\"  >Estonia<\/option>    <option value=\"SWZ\"  >Eswatini<\/option>    <option value=\"ET\"  >Ethiopia<\/option>    <option value=\"FO\"  >Faroe Islands<\/option>    <option value=\"FJ\"  >Fiji<\/option>    <option value=\"SF\"  >Finland<\/option>    <option value=\"F\"  >France<\/option>    <option value=\"FG\"  >French Guiana<\/option>    <option value=\"FP\"  >French Polynesia<\/option>    <option value=\"GO\"  >Gabon<\/option>    <option value=\"GM\"  >Gambia<\/option>    <option value=\"GE\"  >Georgia<\/option>    <option value=\"D\"  >Germany<\/option>    <option value=\"GH\"  >Ghana<\/option>    <option value=\"GK\"  >Gibraltar<\/option>    <option value=\"GR\"  >Greece<\/option>    <option value=\"GD\"  >Greenland<\/option>    <option value=\"GA\"  >Grenada<\/option>    <option value=\"GM\"  >Guam<\/option>    <option value=\"GU\"  >Guatemala<\/option>    <option value=\"GN\"  >Guinea<\/option>    <option value=\"GY\"  >Guyana<\/option>    <option value=\"HI\"  >Haiti<\/option>    <option value=\"VA\"  >Holy See (Vatican City State)<\/option>    <option value=\"HO\"  >Honduras<\/option>    <option value=\"HK\"  >Hong Kong<\/option>    <option value=\"HY\"  >Hungary<\/option>    <option value=\"IC\"  >Iceland<\/option>    <option value=\"IN\"  >India<\/option>    <option value=\"IA\"  >Indonesia<\/option>    <option value=\"IQ\"  >Iraq<\/option>    <option value=\"IRL\"  >Ireland<\/option>    <option value=\"IS\"  >Israel<\/option>    <option value=\"I\"  >Italy<\/option>    <option value=\"JA\"  >Jamaica<\/option>    <option value=\"J\"  >Japan<\/option>    <option value=\"JO\"  >Jordan<\/option>    <option value=\"KAZ\"  >Kazakhstan<\/option>    <option value=\"KE\"  >Kenya<\/option>    <option value=\"K\"  >Kuwait<\/option>    <option value=\"KY\"  >Kyrgyzstan<\/option>    <option value=\"LS\"  >Laos<\/option>    <option value=\"LAT\"  >Latvia<\/option>    <option value=\"LE\"  >Lebanon<\/option>    <option value=\"LST\"  >Lesotho<\/option>    <option value=\"LI\"  >Liberia<\/option>    <option value=\"LY\"  >Libya<\/option>    <option value=\"LIE\"  >Liechtenstein<\/option>    <option value=\"LIT\"  >Lithuania<\/option>    <option value=\"L\"  >Luxembourg<\/option>    <option value=\"OM\"  >Macau<\/option>    <option value=\"MAC\"  >Macedonia<\/option>    <option value=\"MG\"  >Madagascar<\/option>    <option value=\"MI\"  >Malawi<\/option>    <option value=\"MA\"  >Malaysia<\/option>    <option value=\"MV\"  >Maldives<\/option>    <option value=\"ML\"  >Mali<\/option>    <option value=\"MW\"  >Malta<\/option>    <option value=\"MS\"  >Marshall Islands<\/option>    <option value=\"MAU\"  >Mauritania<\/option>    <option value=\"IW\"  >Mauritius<\/option>    <option value=\"MX\"  >Mexico<\/option>    <option value=\"MOL\"  >Moldova<\/option>    <option value=\"MC\"  >Monaco<\/option>    <option value=\"MH\"  >Mongolia<\/option>    <option value=\"MON\"  >Montenegro<\/option>    <option value=\"MZ\"  >Morocco<\/option>    <option value=\"MO\"  >Mozambique<\/option>    <option value=\"MY\"  >Myanmar<\/option>    <option value=\"WK\"  >Namibia<\/option>    <option value=\"NP\"  >Nepal<\/option>    <option value=\"NL\"  >Netherlands<\/option>    <option value=\"NZ\"  >New Zealand<\/option>    <option value=\"NU\"  >Nicaragua<\/option>    <option value=\"NGR\"  >Niger<\/option>    <option value=\"NG\"  >Nigeria<\/option>    <option value=\"N\"  >Norway<\/option>    <option value=\"MB\"  >Oman<\/option>    <option value=\"PK\"  >Pakistan<\/option>    <option value=\"KF\"  >Palau<\/option>    <option value=\"PA\"  >Panama<\/option>    <option value=\"PNG\"  >Papua New Guinea<\/option>    <option value=\"PY\"  >Paraguay<\/option>    <option value=\"PE\"  >Peru<\/option>    <option value=\"PH\"  >Philippines<\/option>    <option value=\"PL\"  >Poland<\/option>    <option value=\"P\"  >Portugal<\/option>    <option value=\"DH\"  >Qatar<\/option>    <option value=\"RU\"  >Romania<\/option>    <option value=\"RW\"  >Rwanda<\/option>    <option value=\"KC\"  >Saint Kitts and Nevis<\/option>    <option value=\"LC\"  >Saint Lucia<\/option>    <option value=\"VQ\"  >Saint Vincent and the Grenadines<\/option>    <option value=\"SX\"  >Samoa<\/option>    <option value=\"SM\"  >San Marino<\/option>    <option value=\"SA\"  >Saudi Arabia<\/option>    <option value=\"SG\"  >Senegal<\/option>    <option value=\"SER\"  >Serbia<\/option>    <option value=\"SEY\"  >Seychelles<\/option>    <option value=\"SRL\"  >Sierra Leone<\/option>    <option value=\"SP\"  >Singapore<\/option>    <option value=\"SXM\"  >Sint Maarten<\/option>    <option value=\"SLK\"  >Slovakia<\/option>    <option value=\"SLN\"  >Slovenia<\/option>    <option value=\"HQ\"  >Solomon Islands<\/option>    <option value=\"SO\"  >Somalia<\/option>    <option value=\"SOA\"  >South Africa<\/option>    <option value=\"KS\"  >South Korea<\/option>    <option value=\"E\"  >Spain<\/option>    <option value=\"CE\"  >Sri Lanka<\/option>    <option value=\"SD\"  >Sudan<\/option>    <option value=\"SUR\"  >Suriname<\/option>    <option value=\"S\"  >Sweden<\/option>    <option value=\"CH\"  >Switzerland<\/option>    <option value=\"TI\"  >Taiwan<\/option>    <option value=\"TJ\"  >Tajikistan<\/option>    <option value=\"TA\"  >Tanzania<\/option>    <option value=\"TH\"  >Thailand<\/option>    <option value=\"TP\"  >Timor-Leste<\/option>    <option value=\"TG\"  >Togo<\/option>    <option value=\"TS\"  >Tonga<\/option>    <option value=\"WG\"  >Trinidad and Tobago<\/option>    <option value=\"TN\"  >Tunisia<\/option>    <option value=\"TR\"  >Turkey<\/option>    <option value=\"TM\"  >Turkmenistan<\/option>    <option value=\"TCA\"  >Turks and Caicos<\/option>    <option value=\"UG\"  >Uganda<\/option>    <option value=\"UKR\"  >Ukraine<\/option>    <option value=\"EM\"  >United Arab Emirates<\/option>    <option value=\"UY\"  >Uruguay<\/option>    <option value=\"UZB\"  >Uzbekistan<\/option>    <option value=\"VTU\"  >Vanuatu<\/option>    <option value=\"VC\"  >Venezuela<\/option>    <option value=\"VT\"  >Vietnam<\/option>    <option value=\"YE\"  >Yemen<\/option>    <option value=\"ZA\"  >Zambia<\/option>    <option value=\"ZW\"  >Zimbabwe<\/option>   <\/select> <div id=\"message-eefaf6ee-8475-407e-9e9f-091a2f7e0736-9fc98c02-300f-46f4-b365-096d808c296f\" class=\"error-message hide\"><\/div>              <\/div>   <\/div>   <div  style=\"--fba-mc: 1\">    <div class=\"vh\">          <label  for=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-b9dc916e-fb37-4a88-8aa4-b6e2f24d9873\" ><span>State or province<\/span>   <\/label> <select id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-b9dc916e-fb37-4a88-8aa4-b6e2f24d9873\" data-id=\"b9dc916e-fb37-4a88-8aa4-b6e2f24d9873\" data-type=\"dropdown\" name=\"dropdown-2a9a53c1-38d0-426a-a2d6-884c3f749398\" aria-required=\"true\">   <option value=\"1\"  selected  >Option 1<\/option>    <option value=\"2\"  >Option 2<\/option>    <option value=\"3\"  >Option 3<\/option>   <\/select> <div id=\"message-eefaf6ee-8475-407e-9e9f-091a2f7e0736-b9dc916e-fb37-4a88-8aa4-b6e2f24d9873\" class=\"error-message hide\"><\/div>              <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-8bab366c-e56b-4068-9401-79ac5b59e4b7\" name=\"prospectNumber1\" type=\"hidden\" value=\"\" data-id=\"8bab366c-e56b-4068-9401-79ac5b59e4b7\"  data-eloqua-id=\"42218\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-e7870abb-ea8d-4eb9-bf2d-935663916a4e\" name=\"contactNumber1\" type=\"hidden\" value=\"\" data-id=\"e7870abb-ea8d-4eb9-bf2d-935663916a4e\"  data-eloqua-id=\"42217\"   >  <\/div>   <\/div>   <div  style=\"--fba-mc: 1\">    <div class=\"vh\">          <label  for=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-6380cacc-3ff6-4f2e-b50e-e8ac61db7416\" ><span>Would you like to be contacted by a representative to learn more about Bloomberg&#x27;s solutions and services?<\/span>   <\/label> <select id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-6380cacc-3ff6-4f2e-b50e-e8ac61db7416\" data-id=\"6380cacc-3ff6-4f2e-b50e-e8ac61db7416\" data-type=\"dropdown\" name=\"contact\" aria-required=\"true\">   <option value=\"\"  selected  >Select one<\/option>    <option value=\"Yes\"  >Yes, I&#x27;d like to speak to someone<\/option>    <option value=\"No\"  >No, not at this time<\/option>   <\/select> <div id=\"message-eefaf6ee-8475-407e-9e9f-091a2f7e0736-6380cacc-3ff6-4f2e-b50e-e8ac61db7416\" class=\"error-message hide\"><\/div>              <\/div>   <\/div>   <div  style=\"--fba-mc: 1\">    <div class=\"vh\">          <label  for=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-14ae0046-367b-4a0a-ae79-77d605225c24\" ><span>If yes, Which area is most relevant to you?<\/span>   <\/label> <select id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-14ae0046-367b-4a0a-ae79-77d605225c24\" data-id=\"14ae0046-367b-4a0a-ae79-77d605225c24\" data-type=\"dropdown\" name=\"learnMoreAbout\" aria-required=\"true\">   <option value=\"\"  >Select one<\/option>    <option value=\"Benchmarking an equity portfolio\"  >Benchmarking an equity portfolio<\/option>    <option value=\"Designing or customizing an index\"  >Designing or customizing an index<\/option>    <option value=\"Licensing an index for an investment product\"  >Licensing an index for an investment product<\/option>    <option value=\"Accessing equity index data\"  >Accessing equity index data<\/option>    <option value=\"Other\"  >Other<\/option>   <\/select> <div id=\"message-eefaf6ee-8475-407e-9e9f-091a2f7e0736-14ae0046-367b-4a0a-ae79-77d605225c24\" class=\"error-message hide\"><\/div>              <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-f9b26207-17be-4ac6-9756-6cf6556c5320\" name=\"ElqCampaignId\" type=\"hidden\" value=\"\" data-id=\"f9b26207-17be-4ac6-9756-6cf6556c5320\"  data-eloqua-id=\"42222\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-2273aeaa-a952-45da-8393-0793a33d9960\" name=\"source\" type=\"hidden\" value=\"\" data-id=\"2273aeaa-a952-45da-8393-0793a33d9960\"  data-eloqua-id=\"42224\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-ef75eb90-07d8-462b-9d4d-0d354cfe2afa\" name=\"utm_medium\" type=\"hidden\" value=\"\" data-id=\"ef75eb90-07d8-462b-9d4d-0d354cfe2afa\"  data-eloqua-id=\"42226\"   data-js-qso=\"utm_medium\"  >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-04e506e4-22d1-42cb-9472-4cdac8c0b8ec\" name=\"utm_campaign\" type=\"hidden\" value=\"\" data-id=\"04e506e4-22d1-42cb-9472-4cdac8c0b8ec\"  data-eloqua-id=\"42227\"   data-js-qso=\"utm_campaign\"  >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-3a23db29-bc5b-4ac4-a3bf-d918ecee57af\" name=\"utm_source\" type=\"hidden\" value=\"\" data-id=\"3a23db29-bc5b-4ac4-a3bf-d918ecee57af\"  data-eloqua-id=\"42228\"   data-js-qso=\"utm_source\"  >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-7345ae17-af6d-4c5e-be53-d0b12f45ac76\" name=\"utm_content\" type=\"hidden\" value=\"\" data-id=\"7345ae17-af6d-4c5e-be53-d0b12f45ac76\"  data-eloqua-id=\"42229\"   data-js-qso=\"utm_content\"  >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-d8db91ff-939c-4525-86a2-5ca1783ac482\" name=\"utm_term\" type=\"hidden\" value=\"\" data-id=\"d8db91ff-939c-4525-86a2-5ca1783ac482\"  data-eloqua-id=\"50743\"   data-js-qso=\"utm_term\"  >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-5ed49b4b-05ac-4401-a1c3-b6913f564396\" name=\"pchash1\" type=\"hidden\" value=\"\" data-id=\"5ed49b4b-05ac-4401-a1c3-b6913f564396\"  data-eloqua-id=\"48000\"   data-js-qso=\"pchash\"  >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-e721a819-af89-4c9f-8a09-080bdf085764\" name=\"formType\" type=\"hidden\" value=\"Gated Web Content\" data-id=\"e721a819-af89-4c9f-8a09-080bdf085764\"  data-eloqua-id=\"42225\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-4273033a-214b-4ca1-8a8b-4adb391e3a4b\" name=\"pageURL\" type=\"hidden\" value=\"\" data-id=\"4273033a-214b-4ca1-8a8b-4adb391e3a4b\"  data-eloqua-id=\"49789\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-03ead7cd-6576-4ae1-8788-311331e82542\" name=\"customQuestion1\" type=\"hidden\" value=\"\" data-id=\"03ead7cd-6576-4ae1-8788-311331e82542\"  data-eloqua-id=\"47022\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-3972c68a-605b-4ac9-87fe-eb7072c9f640\" name=\"customQuestion2\" type=\"hidden\" value=\"\" data-id=\"3972c68a-605b-4ac9-87fe-eb7072c9f640\"  data-eloqua-id=\"47023\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-8494de96-fe7c-48fa-b40c-4174928d462c\" name=\"customQuestion3\" type=\"hidden\" value=\"\" data-id=\"8494de96-fe7c-48fa-b40c-4174928d462c\"  data-eloqua-id=\"47024\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-f2148f37-9662-474a-bba1-1a5158941fde\" name=\"CustomQuestion4\" type=\"hidden\" value=\"\" data-id=\"f2148f37-9662-474a-bba1-1a5158941fde\"  data-eloqua-id=\"47537\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-594f23cf-1168-4286-8d8e-5a4b54a74a95\" name=\"language\" type=\"hidden\" value=\"English\" data-id=\"594f23cf-1168-4286-8d8e-5a4b54a74a95\"  data-eloqua-id=\"46765\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-f0aeb872-71d8-49fa-8b73-4252acbe9c62\" name=\"dynamicContent\" type=\"hidden\" value=\"\" data-id=\"f0aeb872-71d8-49fa-8b73-4252acbe9c62\"  data-eloqua-id=\"49796\"   data-js-qso=\"dyn\"  >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-09c6416d-34dd-4eeb-9875-8e43ce445d5c\" name=\"newsletterSubscriber\" type=\"hidden\" value=\"\" data-id=\"09c6416d-34dd-4eeb-9875-8e43ce445d5c\"  data-eloqua-id=\"51250\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-ce3fdc64-cc50-44b3-8dfc-8732f6227e37\" name=\"business_unit\" type=\"hidden\" value=\"\" data-id=\"ce3fdc64-cc50-44b3-8dfc-8732f6227e37\"  data-eloqua-id=\"42223\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-a3844bc6-f836-4441-ad8a-d4215561d627\" name=\"mpam\" type=\"hidden\" value=\"\" data-id=\"a3844bc6-f836-4441-ad8a-d4215561d627\"  data-eloqua-id=\"42220\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-52897f56-94a7-4886-bf8d-6267aea7dfba\" name=\"bbgsum\" type=\"hidden\" value=\"\" data-id=\"52897f56-94a7-4886-bf8d-6267aea7dfba\"  data-eloqua-id=\"42230\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-98eba745-b2e7-4d72-b144-36e119365526\" name=\"redirectURL\" type=\"hidden\" value=\"\" data-id=\"98eba745-b2e7-4d72-b144-36e119365526\"  data-eloqua-id=\"51429\"   >  <\/div>   <\/div>   <div  class=\"hide\"  style=\"--fba-mc: 1\">    <div class=\"vh hide\">  <input id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-76c9ff1a-9ad9-48a7-9689-072f96066a3d\" name=\"gauid\" type=\"hidden\" value=\"\" data-id=\"76c9ff1a-9ad9-48a7-9689-072f96066a3d\"  data-eloqua-id=\"52596\"   >  <\/div>   <\/div>   <div  style=\"--fba-mc: 1\">    <div class=\"vh\">               <p id=\"e-eefaf6ee-8475-407e-9e9f-091a2f7e0736-bf5aa1fe-1f5f-43a3-982f-d7f342cba5ed\" 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data-jump-link-label='Theme 1: Technology and the $2.3 Trillion Infrastructure Pivot' data-anchor='row-6ab736613c9be' id='traditional-challenges'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-3\"\n    style=\"border-radius: 16px;\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8 bbg-column--offset-1\"\n    style=\"border-radius: 16px;\"\n    >\n    <p>[vc_row_inner css=&#8221;.vc_custom_1789688225624{background-image: url(https:\/\/assets.bbhub.io\/professional\/sites\/41\/amber-gradient.jpg?id=143433) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&#8221; el_class=&#8221;corners&#8221;][vc_column_inner width=&#8221;12\/12&#8243; css=&#8221;.vc_custom_1744403247700{padding-right: 48px !important;padding-bottom: 32px !important;padding-left: 48px !important;}&#8221;]<div\n    class=\"bbg-spacer\"\n        style=\"height: 160px !important\"\n    >\n<\/div><div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2 style=\"color: white;\"><span class=\"TextRun SCXW181088093 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW181088093 BCX0\" data-ccp-charstyle=\"normaltextrun\" data-ccp-charstyle-defn=\"{&quot;ObjectId&quot;:&quot;ac0262f4-8a9e-5820-b908-2d943c5f7113|1&quot;,&quot;ClassId&quot;:1073872969,&quot;Properties&quot;:&#091;201342446,&quot;1&quot;,201342447,&quot;5&quot;,201342448,&quot;1&quot;,201342449,&quot;1&quot;,469777841,&quot;Aptos&quot;,469777842,&quot;Arial&quot;,469777843,&quot;Aptos&quot;,469777844,&quot;Aptos&quot;,201341986,&quot;1&quot;,469769226,&quot;Aptos,Arial&quot;,268442635,&quot;24&quot;,469775450,&quot;normaltextrun&quot;,201340122,&quot;1&quot;,134233614,&quot;true&quot;,469778129,&quot;normaltextrun&quot;,335572020,&quot;1&quot;,469778324,&quot;Default Paragraph Font&quot;&#093;}\"><span class=\"TextRun SCXW13593765 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW13593765 BCX0\" data-ccp-parastyle=\"heading 3\">Theme 1: <span class=\"TextRun SCXW240939537 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW240939537 BCX0\">Technology<\/span><span class=\"NormalTextRun SCXW240939537 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW240939537 BCX0\">and<\/span><span class=\"NormalTextRun SCXW240939537 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW240939537 BCX0\">the<\/span><span class=\"NormalTextRun SCXW240939537 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW240939537 BCX0\">$<\/span><span class=\"NormalTextRun SCXW240939537 BCX0\">2.3<\/span><span class=\"NormalTextRun SCXW240939537 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW240939537 BCX0\">Trillion<\/span><span class=\"NormalTextRun SCXW240939537 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW240939537 BCX0\">Infrastructure<\/span><span class=\"NormalTextRun SCXW240939537 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW240939537 BCX0\">Pivot<\/span><\/span><span class=\"EOP Selected SCXW240939537 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:363,&quot;335559738&quot;:136}\">\u00a0<\/span><\/span><\/span><\/span><\/span><\/h2>\n\n<\/div>\n[\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=&#8221;3\/12&#8243;]<div\n    class=\"bbg-spacer\"\n        style=\"height: 20px !important\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<div\n    class=\"bbg-spacer bbg-spacer--md\"\n    >\n<\/div>[\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=&#8221;9\/12&#8243;][\/vc_column_inner][\/vc_row_inner]<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p style=\"color: #0062dd; font-size: 24px; font-weight: 400;\"><span class=\"TextRun SCXW45533120 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW45533120 BCX0\" data-ccp-parastyle=\"heading 3\">The<\/span><span class=\"NormalTextRun SCXW45533120 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW45533120 BCX0\" data-ccp-parastyle=\"heading 3\">Physical<\/span><span class=\"NormalTextRun SCXW45533120 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW45533120 BCX0\" data-ccp-parastyle=\"heading 3\">Constraint<\/span><span class=\"NormalTextRun SCXW45533120 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW45533120 BCX0\" data-ccp-parastyle=\"heading 3\">Gem<\/span><\/span><span class=\"EOP Selected SCXW45533120 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:360,&quot;335559738&quot;:98}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><strong><span class=\"TextRun SCXW194291285 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">Artificial<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">\u00a0<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">intelligence<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">\u00a0<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">is<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">\u00a0<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">the<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">\u00a0<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">defining<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">\u00a0<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">technology<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">\u00a0<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">of<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">\u00a0<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">our<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">\u00a0<\/span><span class=\"NormalTextRun SCXW194291285 BCX0\" data-ccp-parastyle=\"heading 6\">time.<\/span><\/span><span class=\"EOP Selected SCXW194291285 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:360,&quot;335559738&quot;:82}\">\u00a0<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/www.bloomberg.com\/company\/press\/generative-ai-market-poised-to-reach-2-3-trillion-by-2032-as-agentic-systems-proliferate-and-infrastructure-demand-surges-according-to-bloomberg-intelligence\/\"><span style=\"font-weight: 400;\">Bloomberg Intelligence has estimated that generative AI<\/span><\/a><span style=\"font-weight: 400;\"> is set to skyrocket from $40 billion in 2022 to an estimated $2.3 trillion+ in annual revenue by 2032. This represents\u00a0<\/span><span style=\"font-weight: 400;\">a staggering Compound Annual Growth Rate (CAGR) of 50% and is prompting a deeper, parallel focus for developers and investors, from software to the foundational layer <\/span><span style=\"font-weight: 400;\">of technology, hardware and infrastructure that makes building, training and deploying AI systems possible: AI infrastructure (AI\/Infra).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This deeper focus is borne of necessity. With AI workloads already accounting for more than 20% of global server revenue, and that share is <\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/artificial-intelligence\/inside-ais-rapid-expansion-what-investors-need-to-know\/\"><span style=\"font-weight: 400;\">projected to rise to 40% in the coming years<\/span><\/a><span style=\"font-weight: 400;\">, it\u2019s clear that sustained and strategic investment in the physical constraints underpinning AI\/Infra is not a \u201cnice to have,\u201d, but vital to generative AI and its growth trajectory.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is tempting to zero in on the companies building the AI models that dominate the news. But history reminds us that when new technologies take off, the long-term beneficiaries often include the enabling companies supporting innovation across the supply chain.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We have previously used the Bloomberg AI Value Chain Equal Weight Index (<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/quote\/baivt:IND\"><span style=\"font-weight: 400;\">BAIVT:IND<\/span><\/a><span style=\"font-weight: 400;\">) to examine <\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/artificial-intelligence\/the-ai-value-chain-understanding-the-engines-of-growth\/\"><span style=\"font-weight: 400;\">how indices can help to observe companies<\/span><\/a><span style=\"font-weight: 400;\"> building the foundations of AI. <\/span><\/p>\n<h3><strong>The Energy Demand Overlap<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">As we explored in the <\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/indices-outlook-2026-report\/\"><span style=\"font-weight: 400;\">Bloomberg Global Index 2026 Outlook<\/span><\/a><span style=\"font-weight: 400;\">, energy security is a defining investment theme. Data-center electricity use is poised to surge 4\u201310x by 2030, and there is significant investment overlap with interest in energy demand, capacity and security.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Training and running large AI models requires connecting thousands of graphics processing units (GPUs) in data centers, which in turn means moving vast amounts of data at extremely high speeds. Every time that data moves, energy is consumed.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Yet years of underinvestment have left developed-world power systems ill-equipped to support growing energy demand. Power prices surged in 2025. Consumer costs have risen as growing power demand from AI and data centers has pushed utility bills higher.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The geopolitical realignment we have entered this year (explored in more detail in Theme 3 of this report) creates an added layer of significance to the divergence decade \u2212 the collision of supply chains across the US, Europe and allied economies with energy and grid capacity.\u00a0<\/span><\/p>\n<h3><span class=\"TextRun SCXW92510076 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW92510076 BCX0\" data-ccp-parastyle=\"heading 3\">Th<\/span><span class=\"NormalTextRun SCXW92510076 BCX0\" data-ccp-parastyle=\"heading 3\">e<\/span><span class=\"NormalTextRun SCXW92510076 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW92510076 BCX0\" data-ccp-parastyle=\"heading 3\">Rise<\/span><span class=\"NormalTextRun SCXW92510076 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW92510076 BCX0\" data-ccp-parastyle=\"heading 3\">of<\/span><span class=\"NormalTextRun SCXW92510076 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0AI\/Infra<\/span><\/span><span class=\"EOP SCXW92510076 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:360,&quot;335559738&quot;:98}\">\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">AI, together with future technology more broadly, is the primary battleground in the intensifying rivalry between the United States and China, with both governments treating leadership in AI, including the journey toward superintelligence, as critical to economic strength and national security.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Effective exposure requires looking beyond the most visible technology leaders and deeper into the AI value chain.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Power equipment manufacturers, grid and transmission providers, storage solutions, logistics networks, and suppliers of critical materials all stand to benefit in a world where energy capacity increasingly constrains economic growth.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There is a clear relationship between equities and commodities here, as AI\/Infra is heavily reliant on commodities for its all-important current and future energy supply.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some investors are exploring which commodities will be in higher demand due to higher power use, and a projected pickup in overall global and regional economic activity.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, perceived \u201csafe havens\u201d are attracting significant AI-driven investment, with Microsoft announcing new AI investments in Japan and the US in April 2026.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">By systematically capturing segments across the AI value chain in our index design and construction, we offer investors both breadth and depth of perspective. <\/span><\/p>\n<h3><strong><span class=\"TextRun SCXW184257769 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW184257769 BCX0\" data-ccp-parastyle=\"heading 5\">AI\/Infra Market Players to Watch<\/span><\/span><\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Leading AI\/Infra market players to watch include NVIDIA and Broadcom, two companies at the center of the global AI infrastructure buildout.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>NVIDIA<\/strong> (NASDAQ: NVDA) has evolved from the world\u2019&#8217;s leading AI chip designer into the company at the center of the global AI infrastructure buildout. Its business now extends beyond GPUs to high-speed networking, AI software, and integrated AI factory platforms that power the world\u2019&#8217;s largest data centers. As hyperscalers and enterprises continue to invest heavily in AI infrastructure, NVIDIA remains a key beneficiary, with its financial performance often viewed as a barometer for global AI capital expenditure and adoption.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Broadcom<\/strong> (NASDAQ: AVGO) has become one of the most important players in AI infrastructure through its leadership in custom AI chips and high-performance networking. The company works with major hyperscale cloud providers to develop AI silicon, while supplying the networking technologies that connect large-scale AI clusters. As demand for purpose-built AI infrastructure grows, Broadcom is well positioned to benefit from the next wave of AI investment.\u00a0<\/span><\/p>\n<h3><strong><span class=\"TextRun SCXW24429173 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW24429173 BCX0\" data-ccp-parastyle=\"heading 3\">How<\/span><span class=\"NormalTextRun SCXW24429173 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW24429173 BCX0\" data-ccp-parastyle=\"heading 3\">the<\/span><span class=\"NormalTextRun SCXW24429173 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW24429173 BCX0\" data-ccp-parastyle=\"heading 3\">AI<\/span><span class=\"NormalTextRun SCXW24429173 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW24429173 BCX0\" data-ccp-parastyle=\"heading 3\">Boom<\/span><span class=\"NormalTextRun SCXW24429173 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW24429173 BCX0\" data-ccp-parastyle=\"heading 3\">Can<\/span><span class=\"NormalTextRun SCXW24429173 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW24429173 BCX0\" data-ccp-parastyle=\"heading 3\">Be<\/span><span class=\"NormalTextRun SCXW24429173 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW24429173 BCX0\" data-ccp-parastyle=\"heading 3\">Tracked Through Bloomberg Indices<\/span><\/span><span class=\"EOP Selected SCXW24429173 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:360,&quot;335559737&quot;:30,&quot;335559738&quot;:101,&quot;335559740&quot;:237}\">\u00a0<\/span><\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">As AI adoption grows, market participants are turning to tools and data that can quantify its influence. Bloomberg provides these tools through indices that offer thematic exposure.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Four Bloomberg indices are especially pertinent for investors looking to get beyond legacy benchmarks: <\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Bloomberg Artificial Intelligence Total Return Index<\/strong> (<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/quote\/BAIT:IND\"><span style=\"font-weight: 400;\">BAIT:IND<\/span><\/a><span style=\"font-weight: 400;\">) tracks the performance of the top 50 companies that develop, facilitate, or use solutions such as deep learning, machine learning, natural language processing, and image and speech recognition utilizing research from Bloomberg Intelligence.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Bloomberg AI Value Chain Equal Weight Index<\/strong> (<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/quote\/BAIVT:IND\"><span style=\"font-weight: 400;\">BAIVT:IND<\/span><\/a><span style=\"font-weight: 400;\">) takes a structured, rules-based approach, using BI research to map companies aligned to the backbone of the AI ecosystem, with a focus on cloud, AI hardware, and AI semiconductors. Only firms with clear, material exposure to AI are eligible for inclusion in the index. Once the eligible universe is established, companies are grouped into these three categories, with the 15 largest companies in each group, ranked by free-float market capitalization, selected for inclusion. An equal weight approach can help reduce concentration in the largest constituents, while broadening exposure across the eligible AI value chain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>US Listed Semiconductors Index<\/strong> (<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/quote\/bchipt:IND\"><span style=\"font-weight: 400;\">BCHIPT:IND<\/span><\/a><span style=\"font-weight: 400;\">) is constructed to track the performance of the top 30 US-listed companies in the semiconductors sector, as determined by Bloomberg Intelligence.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Bloomberg Electrification Select Index<\/strong> (BELECT:IND) tracks the performance of companies that provide products and services including, but not limited to, renewable energy generation, grid infrastructure modernization, and large-scale battery storage that support the acceleration of global electrification across transportation, buildings, and industry, with securities screened for involvement in controversial activities. Up to 100 securities that are part of Grid Tech, Decentralized Energy, Solar, Wind, or Nuclear themes, as defined by Bloomberg Intelligence, are included. <\/span><\/p>\n<h3><strong><span class=\"TextRun SCXW61883738 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW61883738 BCX0\" data-ccp-parastyle=\"heading 5\">Why an Index Approach Matters in Assessing AI Investments<\/span><\/span><span class=\"EOP Selected SCXW61883738 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:360,&quot;335559737&quot;:896}\">\u00a0<\/span><\/strong><\/h3>\n<p><span data-contrast=\"none\">Less\u00a0a\u00a0single\u00a0product\u00a0and\u00a0more\u00a0an\u00a0ecosystem,<\/span><span data-ccp-props=\"{&quot;201341983&quot;:1,&quot;335559685&quot;:360,&quot;335559738&quot;:101,&quot;335559740&quot;:221}\">\u00a0<\/span><span data-contrast=\"none\">AI models require substantial infrastructure (data\u00a0centers, advanced semiconductors, and reliable storage systems) to function. Each layer is complex and capital intensive and has its own essential contributors.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:360,&quot;335559737&quot;:800,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Focusing on a narrow set of AI stocks may lead to concentration or exposure gaps. From an index design perspective, we seek to offset two key structural risks: high weighting to a few large-cap constituents, and underrepresentation of companies providing critical\u00a0but less conspicuous contributions to AI innovation.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:360,&quot;335559737&quot;:896,&quot;335559738&quot;:114,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Think of AI as a skyscraper. The model developers are the architects celebrated on magazine covers, but without the steelmakers, electricians and manufacturers, the building will never be completed. <\/span><\/p>\n<p><span class=\"TextRun SCXW83567851 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW83567851 BCX0\" data-ccp-parastyle=\"Body Text\">Indices such as the Bloomberg AI value chain index aim to capture all these roles and efforts through\u00a0<\/span><\/span><a class=\"Hyperlink SCXW83567851 BCX0\" href=\"https:\/\/www.bloomberg.com\/professional\/insights\/artificial-intelligence\/the-ai-value-chain-understanding-the-engines-of-growth\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"TextRun Underlined SCXW83567851 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW83567851 BCX0\" data-ccp-parastyle=\"Body Text\">equal weighting and diversified exposure<\/span><\/span><\/a><span class=\"TextRun SCXW83567851 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW83567851 BCX0\" data-ccp-parastyle=\"Body Text\">, and show how we get beyond legacy benchmarks in our index design in both principle and practice.<\/span><\/span><span class=\"EOP Selected TrackedChange SCXW83567851 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:6323,&quot;335559737&quot;:1022,&quot;335559738&quot;:1,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 20px !important\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1110\" height=\"1110\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/image-report.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Figure 1: Market Cap Weighting vs Equal Weighting in AI Index Investing\" title=\"image report\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/image-report.png 1110w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/image-report-552x552.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/image-report-800x800.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/image-report-768x768.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/image-report-108x108.png 108w\" sizes=\"auto, (max-width: 1110px) 100vw, 1110px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-compact row-jump-link-section bbg-row--full-bg-bleed\" data-jump-link-label='Theme 2: Stability and Strategy in a Fragmented Market' data-anchor='row-6ab7366142a95' id='transformed'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-3\"\n    style=\"border-radius: 16px;\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8 bbg-column--offset-1\"\n    style=\"border-radius: 16px;\"\n    >\n    <p>[vc_row_inner css=&#8221;.vc_custom_1789688249932{background-image: url(https:\/\/assets.bbhub.io\/professional\/sites\/41\/amber-gradient.jpg?id=143433) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&#8221; el_class=&#8221;corners&#8221;][vc_column_inner width=&#8221;12\/12&#8243; css=&#8221;.vc_custom_1744403247700{padding-right: 48px !important;padding-bottom: 32px !important;padding-left: 48px !important;}&#8221;]<div\n    class=\"bbg-spacer\"\n        style=\"height: 160px !important\"\n    >\n<\/div><div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2 style=\"color: white;\"><span class=\"TextRun SCXW181088093 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW181088093 BCX0\" data-ccp-charstyle=\"normaltextrun\" data-ccp-charstyle-defn=\"{&quot;ObjectId&quot;:&quot;ac0262f4-8a9e-5820-b908-2d943c5f7113|1&quot;,&quot;ClassId&quot;:1073872969,&quot;Properties&quot;:&#091;201342446,&quot;1&quot;,201342447,&quot;5&quot;,201342448,&quot;1&quot;,201342449,&quot;1&quot;,469777841,&quot;Aptos&quot;,469777842,&quot;Arial&quot;,469777843,&quot;Aptos&quot;,469777844,&quot;Aptos&quot;,201341986,&quot;1&quot;,469769226,&quot;Aptos,Arial&quot;,268442635,&quot;24&quot;,469775450,&quot;normaltextrun&quot;,201340122,&quot;1&quot;,134233614,&quot;true&quot;,469778129,&quot;normaltextrun&quot;,335572020,&quot;1&quot;,469778324,&quot;Default Paragraph Font&quot;&#093;}\"><span class=\"TextRun SCXW15243823 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW15243823 BCX0\">Theme<\/span><span class=\"NormalTextRun SCXW15243823 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW15243823 BCX0\">2:<\/span><\/span><span class=\"EOP Selected SCXW15243823 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:360,&quot;335559738&quot;:75}\"> <span class=\"TextRun SCXW172102985 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW172102985 BCX0\" data-ccp-parastyle=\"heading 1\">Stability<\/span><span class=\"NormalTextRun SCXW172102985 BCX0\" data-ccp-parastyle=\"heading 1\">\u00a0<\/span><span class=\"NormalTextRun SCXW172102985 BCX0\" data-ccp-parastyle=\"heading 1\">and<\/span><span class=\"NormalTextRun SCXW172102985 BCX0\" data-ccp-parastyle=\"heading 1\">\u00a0<\/span><span class=\"NormalTextRun SCXW172102985 BCX0\" data-ccp-parastyle=\"heading 1\">Strategy<\/span><span class=\"NormalTextRun SCXW172102985 BCX0\" data-ccp-parastyle=\"heading 1\">\u00a0<\/span><span class=\"NormalTextRun SCXW172102985 BCX0\" data-ccp-parastyle=\"heading 1\">in<\/span><span class=\"NormalTextRun SCXW172102985 BCX0\" data-ccp-parastyle=\"heading 1\">\u00a0<\/span><span class=\"NormalTextRun SCXW172102985 BCX0\" data-ccp-parastyle=\"heading 1\">a<\/span><span class=\"NormalTextRun SCXW172102985 BCX0\" data-ccp-parastyle=\"heading 1\">\u00a0<\/span><span class=\"NormalTextRun SCXW172102985 BCX0\" data-ccp-parastyle=\"heading 1\">Fragmented<\/span><span class=\"NormalTextRun SCXW172102985 BCX0\" data-ccp-parastyle=\"heading 1\">\u00a0<\/span><span class=\"NormalTextRun SCXW172102985 BCX0\" data-ccp-parastyle=\"heading 1\">Market<\/span><\/span><span class=\"EOP Selected SCXW172102985 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:360,&quot;335559738&quot;:136}\">\u00a0<\/span><span class=\"EOP Selected SCXW66193790 BCX0\" data-ccp-props=\"{&quot;335559738&quot;:32}\"> \u00a0<\/span><\/span><\/span><\/span><\/h2>\n\n<\/div>\n[\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=&#8221;3\/12&#8243;]<div\n    class=\"bbg-spacer\"\n        style=\"height: 20px !important\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<div\n    class=\"bbg-spacer bbg-spacer--md\"\n    >\n<\/div>[\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=&#8221;9\/12&#8243;][\/vc_column_inner][\/vc_row_inner]<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p style=\"color: #0062dd; font-size: 24px; font-weight: 400;\"><span class=\"TextRun SCXW56080492 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW56080492 BCX0\" data-ccp-parastyle=\"heading 3\">The<\/span><span class=\"NormalTextRun SCXW56080492 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW56080492 BCX0\" data-ccp-parastyle=\"heading 3\">Safe<\/span><span class=\"NormalTextRun SCXW56080492 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW56080492 BCX0\" data-ccp-parastyle=\"heading 3\">Haven\u00a0<\/span><span class=\"NormalTextRun SCXW56080492 BCX0\" data-ccp-parastyle=\"heading 3\">Shift<\/span><\/span><span class=\"EOP Selected SCXW56080492 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:360,&quot;335559738&quot;:98}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><strong>In a world shaped by protectionist inflation, capital is seeking resilience.\u00a0<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">As geopolitical fragmentation reshapes the global economy, investors are increasingly seeking markets that offer relative stability amid rising uncertainty. Capital is flowing toward economies with resilient institutions, strategic industries, and policy settings that can better withstand the effects of protectionist inflation and supply chain realignment.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Much of this shift has been driven by protectionist inflation, a consequence of trade policies such as tariffs, export controls, and industrial policy that have reshaped global supply chains since 2025. Unlike traditional inflationary cycles, protectionist inflation is structural rather than cyclical, making it more persistent and less responsive to monetary policy. The result is a more fragmented investment landscape, where regional performance is diverging and country selection is becoming increasingly important.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Corporate investment trends continue to shape financial market opportunities. As governments and companies invest in AI infrastructure, semiconductor manufacturing, energy security, defense, and critical supply chains, investors are increasingly allocating capital toward markets positioned to benefit from these long-term structural themes. Rather than relying solely on broad regional exposure, investors are becoming more selective, seeking markets with strong policy support, resilient domestic demand, and attractive corporate fundamentals.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Against this backdrop, several developed markets are emerging as relative safe havens for global capital. Countries including the United States and, Japan,, and parts of Northern Europe are attracting investment through a combination of political stability, deep capital markets, strategic industrial investment, and growing exposure to the technologies and infrastructure underpinning the next phase of economic growth.\u00a0<\/span><\/p>\n<h3><strong><span class=\"TextRun SCXW136098769 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW136098769 BCX0\" data-ccp-parastyle=\"heading 5\">Spotlight<\/span><span class=\"NormalTextRun SCXW136098769 BCX0\" data-ccp-parastyle=\"heading 5\">\u00a0<\/span><span class=\"NormalTextRun SCXW136098769 BCX0\" data-ccp-parastyle=\"heading 5\">on<\/span><span class=\"NormalTextRun SCXW136098769 BCX0\" data-ccp-parastyle=\"heading 5\">\u00a0<\/span><span class=\"NormalTextRun SCXW136098769 BCX0\" data-ccp-parastyle=\"heading 5\">the United States<\/span><\/span><span class=\"EOP Selected SCXW136098769 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:360}\">\u00a0<\/span><\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">The United States remains at the center of the global AI infrastructure investment cycle. Despite a more uncertain geopolitical and trade environment, the country continues to lead in AI innovation, cloud computing and advanced semiconductor design. Supported by deep capital markets, strong private sector investment, and government initiatives to strengthen domestic manufacturing, the US remains a key destination for global capital.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Corporate investment in AI infrastructure continues at an unprecedented pace. According to <\/span><a href=\"https:\/\/www.bloomberg.com\/company\/press\/generative-ai-market-poised-to-reach-2-3-trillion-by-2032-as-agentic-systems-proliferate-and-infrastructure-demand-surges-according-to-bloomberg-intelligence\/\"><span style=\"font-weight: 400;\">Bloomberg Intelligence&#8217;s Generative AI 2026 Outlook<\/span><\/a><span style=\"font-weight: 400;\">, big-tech capital expenditure is projected to reach approximately US$750 billion in 2026, up roughly 70% from 2025, as demand for AI infrastructure accelerates. Bloomberg Intelligence also expects inference computing to surpass AI training at least three years earlier than previously forecast, driven by the rapid adoption of reasoning models and enterprise AI deployment. With generative AI projected to become a US$2.3 trillion market by 2032, representing 22% of total technology spending, the US remains at the forefront of the technologies underpinning the next phase of global economic growth.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Just as important, the corporate landscape is entering a new investment cycle. Companies are shifting from AI experimentation toward enterprise deployment, with capital increasingly flowing into the infrastructure required to support large-scale AI adoption. This investment is benefiting a broad ecosystem spanning semiconductor designers, cloud providers, networking companies, data center operators, and industrial suppliers. Together, these trends position the United States as one of the most influential markets shaping global equity performance throughout the divergence decade. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<h3><strong>Spotlight on Japan<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Japan entered 2026 as one of the more quietly compelling developed market stories. After decades of stagnation, its economy is showing signs of renewed momentum. Nominal GDP growth has accelerated, fiscal policy remains supportive, and Japanese companies are deepening their role in global supply chains tied to automation, semiconductors and advanced manufacturing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, a weaker yen continues to support export demand, while government incentives aimed at productivity and technological upgrades are reinforcing domestic investment. Together, these forces position Japan as a developed market with improving cyclical and structural fundamentals.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The country is attracting foreign investment, with <\/span><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-04-03\/microsoft-drafts-10-billion-investment-plan-in-ai-hungry-japan\"><span style=\"font-weight: 400;\">Microsoft investing $10 billion<\/span><\/a><span style=\"font-weight: 400;\"> (approx. \u00a51.6 trillion) in AI infrastructure, cybersecurity and workforce.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Just as important, the corporate landscape is undergoing a meaningful transformation. Long criticized for balance sheet conservatism and limited shareholder focus, Japanese companies are responding to governance reforms and stock exchange pressure to improve capital efficiency. The result is a tangible shift toward shareholder returns, particularly through dividends.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Bloomberg Japan High Dividend 50 (<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/quote\/BJHD50:IND\"><span style=\"font-weight: 400;\">BJHD50:IND<\/span><\/a><span style=\"font-weight: 400;\">) Index highlights this change, with the index\u2019s payout ratio rising a remarkable 94% over the past three years.*<\/span><\/p>\n<p>*Past performance is not indicative of future results.<\/p>\n<h3><strong><span class=\"NormalTextRun SCXW126720742 BCX0\" data-ccp-parastyle=\"Body Text\">Stability<\/span><span class=\"NormalTextRun SCXW126720742 BCX0\" data-ccp-parastyle=\"Body Text\">\u00a0<\/span><span class=\"NormalTextRun SCXW126720742 BCX0\" data-ccp-parastyle=\"Body Text\">+<\/span><span class=\"NormalTextRun SCXW126720742 BCX0\" data-ccp-parastyle=\"Body Text\">\u00a0<\/span><span class=\"NormalTextRun SCXW126720742 BCX0\" data-ccp-parastyle=\"Body Text\">Strategy<\/span><span class=\"NormalTextRun SCXW126720742 BCX0\" data-ccp-parastyle=\"Body Text\">\u00a0<\/span><span class=\"NormalTextRun SCXW126720742 BCX0\" data-ccp-parastyle=\"Body Text\">for<\/span><span class=\"NormalTextRun SCXW126720742 BCX0\" data-ccp-parastyle=\"Body Text\">\u00a0<\/span><span class=\"NormalTextRun SCXW126720742 BCX0\" data-ccp-parastyle=\"Body Text\">US<\/span><span class=\"NormalTextRun SCXW126720742 BCX0\" data-ccp-parastyle=\"Body Text\">\u00a0<\/span><span class=\"NormalTextRun SCXW126720742 BCX0\" data-ccp-parastyle=\"Body Text\">Investors\u00a0<\/span><\/strong><\/h3>\n<p><a class=\"Hyperlink SCXW164382121 BCX0\" href=\"https:\/\/assets.bbhub.io\/professional\/sites\/27\/Bloomberg-US-Domestic-Equity-Indices-Methodology.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"TextRun Underlined SCXW164382121 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW164382121 BCX0\" data-ccp-charstyle=\"Hyperlink\">Bloomberg\u00a0<\/span><span class=\"NormalTextRun SCXW164382121 BCX0\" data-ccp-charstyle=\"Hyperlink\">US<\/span><span class=\"NormalTextRun SCXW164382121 BCX0\" data-ccp-charstyle=\"Hyperlink\">\u00a0Domestic Equity Indices<\/span><\/span><\/a><span class=\"TextRun SCXW164382121 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW164382121 BCX0\" data-ccp-parastyle=\"Body Text\">\u00a0provide broad, transparent exposure across the\u00a0<\/span><span class=\"NormalTextRun SCXW164382121 BCX0\" data-ccp-parastyle=\"Body Text\">US<\/span><span class=\"NormalTextRun SCXW164382121 BCX0\" data-ccp-parastyle=\"Body Text\">\u00a0equity market through a comprehensive suite of benchmarks covering approximately 99% of the investable market by capitalization. Built using a rules-based, free-float market capitalization\u00a0<\/span><span class=\"NormalTextRun SCXW164382121 BCX0\" data-ccp-parastyle=\"Body Text\">methodology<\/span><span class=\"NormalTextRun SCXW164382121 BCX0\" data-ccp-parastyle=\"Body Text\">, the index family is designed for benchmarking, asset\u00a0<\/span><span class=\"NormalTextRun SCXW164382121 BCX0\" data-ccp-parastyle=\"Body Text\">allocation<\/span><span class=\"NormalTextRun SCXW164382121 BCX0\" data-ccp-parastyle=\"Body Text\">\u00a0and the creation of investment products across the full market capitalization spectrum<\/span><span class=\"NormalTextRun SCXW164382121 BCX0\" data-ccp-parastyle=\"Body Text\">.\u00a0<\/span><span class=\"NormalTextRun SCXW164382121 BCX0\" data-ccp-parastyle=\"Body Text\">Our flagship\u00a0<\/span><span class=\"NormalTextRun SCXW164382121 BCX0\" data-ccp-parastyle=\"Body Text\">US<\/span><span class=\"NormalTextRun SCXW164382121 BCX0\" data-ccp-parastyle=\"Body Text\">\u00a0domestic equity indices include:<\/span><\/span><\/p>\n<table style=\"font-weight: 400;\" data-tablestyle=\"MsoNormalTable\" data-tablelook=\"480\" aria-rowcount=\"6\" aria-colcount=\"2\">\n<tbody>\n<tr aria-rowindex=\"1\">\n<td data-celllook=\"69633\"><span data-contrast=\"none\">Bloomberg\u00a0US Aggregate Equity <\/span><span data-contrast=\"none\">Index<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:179,&quot;335559737&quot;:100,&quot;335559738&quot;:100,&quot;335559740&quot;:237}\">\u00a0<\/span><\/td>\n<td data-celllook=\"65553\"><span data-ccp-props=\"{&quot;335559738&quot;:52}\">\u00a0<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/quote\/AGGE:IND\"><span data-contrast=\"none\">AGGE:IND<\/span><\/a><span data-ccp-props=\"{&quot;335559685&quot;:238}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr aria-rowindex=\"2\">\n<td data-celllook=\"69632\"><span data-contrast=\"none\">Bloomberg\u00a0500 Index<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:179,&quot;335559737&quot;:100,&quot;335559738&quot;:105,&quot;335559740&quot;:237}\">\u00a0<\/span><\/td>\n<td data-celllook=\"65552\"><span data-ccp-props=\"{&quot;335559738&quot;:52}\">\u00a0<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/quote\/b500:IND\"><span data-contrast=\"none\">B500:IND<\/span><\/a><span data-ccp-props=\"{&quot;335559685&quot;:238}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr aria-rowindex=\"3\">\n<td data-celllook=\"69632\"><span data-contrast=\"none\">Bloomberg\u00a0US 200 Index<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:179,&quot;335559737&quot;:100,&quot;335559738&quot;:105,&quot;335559740&quot;:237}\">\u00a0<\/span><\/td>\n<td data-celllook=\"65552\"><span data-ccp-props=\"{&quot;335559738&quot;:52}\">\u00a0<\/span><span data-contrast=\"auto\">B200:IND<\/span><span data-ccp-props=\"{&quot;335559685&quot;:238}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr aria-rowindex=\"4\">\n<td data-celllook=\"69632\"><span data-contrast=\"none\">Bloomberg\u00a0US 1000 Index<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:179,&quot;335559737&quot;:100,&quot;335559738&quot;:105,&quot;335559740&quot;:237}\">\u00a0<\/span><\/td>\n<td data-celllook=\"65552\"><span data-ccp-props=\"{&quot;335559738&quot;:52}\">\u00a0<\/span><span data-contrast=\"auto\">B1000:IND<\/span><span data-ccp-props=\"{&quot;335559685&quot;:238}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr aria-rowindex=\"5\">\n<td data-celllook=\"69632\"><span data-contrast=\"none\">Bloomberg\u00a0US Mid Cap Index<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:179,&quot;335559737&quot;:100,&quot;335559738&quot;:105,&quot;335559740&quot;:237}\">\u00a0<\/span><\/td>\n<td data-celllook=\"65552\"><span data-ccp-props=\"{&quot;335559738&quot;:52}\">\u00a0<\/span><span data-contrast=\"auto\">BMID:IND<\/span><span data-ccp-props=\"{&quot;335559685&quot;:238}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr aria-rowindex=\"6\">\n<td data-celllook=\"69888\"><span data-contrast=\"none\">Bloomberg US\u00a0Micro Cap\u00a0Index<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:179,&quot;335559737&quot;:100,&quot;335559738&quot;:105,&quot;335559740&quot;:237}\">\u00a0<\/span><\/td>\n<td data-celllook=\"65808\"><span data-ccp-props=\"{&quot;335559738&quot;:52}\">\u00a0<\/span><span data-contrast=\"auto\">BMIC:IND<\/span><span data-ccp-props=\"{&quot;335559685&quot;:238}\">\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<\/div>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 20px !important\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span class=\"TextRun SCXW230253328 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW230253328 BCX0\" data-ccp-parastyle=\"Body Text\">Beyond broad market benchmarks, Bloomberg also offers growth, value, dividend <\/span><span class=\"NormalTextRun SCXW230253328 BCX0\" data-ccp-parastyle=\"Body Text\">yield<\/span><span class=\"NormalTextRun SCXW230253328 BCX0\" data-ccp-parastyle=\"Body Text\">\u00a0and equal weight indices to support a range of investment\u00a0<\/span><span class=\"NormalTextRun SCXW230253328 BCX0\" data-ccp-parastyle=\"Body Text\">objectives<\/span><span class=\"NormalTextRun SCXW230253328 BCX0\" data-ccp-parastyle=\"Body Text\">.<\/span><span class=\"NormalTextRun SCXW230253328 BCX0\" data-ccp-parastyle=\"Body Text\">\u00a0These include:<\/span><\/span><span class=\"EOP Selected SCXW230253328 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:835,&quot;335559737&quot;:131,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<table style=\"font-weight: 400;\" data-tablestyle=\"MsoNormalTable\" data-tablelook=\"480\" aria-rowcount=\"4\" aria-colcount=\"2\">\n<tbody>\n<tr aria-rowindex=\"1\">\n<td data-celllook=\"69633\"><span data-contrast=\"none\">Bloomberg US 500 Growth Index<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:179,&quot;335559737&quot;:196,&quot;335559738&quot;:100,&quot;335559740&quot;:237}\">\u00a0<\/span><\/td>\n<td data-celllook=\"65553\">\u00a0<a href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/quote\/B500G:IND\"><span data-contrast=\"none\">B500G:IND<\/span><\/a><span data-ccp-props=\"{&quot;335559685&quot;:400}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr aria-rowindex=\"2\">\n<td data-celllook=\"69632\"><span data-contrast=\"none\">Bloomberg US 500 Value Index<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:179,&quot;335559737&quot;:196,&quot;335559738&quot;:105,&quot;335559740&quot;:237}\">\u00a0<\/span><\/td>\n<td data-celllook=\"65552\"><span data-ccp-props=\"{}\">\u00a0<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/quote\/B500V:IND\"><span data-contrast=\"none\">B500V:IND<\/span><\/a><span data-ccp-props=\"{&quot;335559685&quot;:400}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr aria-rowindex=\"3\">\n<td data-celllook=\"69632\"><span data-contrast=\"none\">Bloomberg US 500 Dividend Yield Index<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:179,&quot;335559737&quot;:196,&quot;335559738&quot;:105,&quot;335559740&quot;:237}\">\u00a0<\/span><\/td>\n<td data-celllook=\"65552\"><span data-ccp-props=\"{&quot;335559738&quot;:162}\">\u00a0<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/quote\/B500D:IND\"><span data-contrast=\"none\">B500D:IND<\/span><\/a><span data-ccp-props=\"{&quot;335559685&quot;:400}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr aria-rowindex=\"4\">\n<td data-celllook=\"69888\"><span data-contrast=\"none\">Bloomberg US 500 Equal Weight Index<br \/>\n<\/span><\/td>\n<td data-celllook=\"65808\"><span data-contrast=\"auto\">\u00a0B500PSE:IND<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<\/div>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 20px !important\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><b><span data-contrast=\"none\">All of our indices can be accessed on the Bloomberg Terminal at {IN &lt;GO&gt;}.<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:835,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<h3><strong><span class=\"NormalTextRun SCXW145806923 BCX0\" data-ccp-parastyle=\"heading 5\">Equity<\/span><span class=\"NormalTextRun SCXW145806923 BCX0\" data-ccp-parastyle=\"heading 5\">\u00a0<\/span><span class=\"NormalTextRun SCXW145806923 BCX0\" data-ccp-parastyle=\"heading 5\">Product<\/span><span class=\"NormalTextRun SCXW145806923 BCX0\" data-ccp-parastyle=\"heading 5\">\u00a0<\/span><span class=\"NormalTextRun SCXW145806923 BCX0\" data-ccp-parastyle=\"heading 5\">Focus<\/span><\/strong><\/h3>\n<p><span data-contrast=\"none\">Bloomberg Indices provides a comprehensive solution designed to support comparison across countries and size segments.\u00a0A consistent\u00a0methodology, minimum liquidity requirements, and buffer rules support commonality across markets and\u00a0investability.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:835,&quot;335559737&quot;:980,&quot;335559738&quot;:104,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The indices offer flexibility across size groups, sectors, factors, and hedging capabilities, supported by Bloomberg data, research, analytics, and integration with the Bloomberg Terminal and\u00a0<\/span><a href=\"https:\/\/professional.bloomberg.com\/products\/bloomberg-terminal\/portfolio-analytics\/\"><span data-contrast=\"none\">PORT<\/span><\/a><span data-contrast=\"none\">.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:835,&quot;335559737&quot;:980,&quot;335559738&quot;:104,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">This approach extends across dividends, covered calls, and REITs, helping investors track and analyze strategies across these areas.<\/span><\/p>\n<p aria-level=\"6\"><b><span data-contrast=\"none\">Dividends<\/span><\/b><span data-ccp-props=\"{&quot;335559685&quot;:835}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">We provide institutional-grade dividend data and forecasting tools, primarily via\u00a0the\u00a0Bloomberg Terminal and enterprise feeds. Our core tool,\u00a0<\/span><a href=\"https:\/\/data.bloomberglp.com\/professional\/sites\/10\/Dividends-Forecast-Fact-Sheet.pdf\"><span data-contrast=\"none\">Bloomberg\u00a0<\/span><\/a><a href=\"https:\/\/data.bloomberglp.com\/professional\/sites\/10\/Dividends-Forecast-Fact-Sheet.pdf\"><span data-contrast=\"none\">Dividend Projections (BDVD)<\/span><\/a><span data-contrast=\"none\">, offers multiple actionable insights.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:835,&quot;335559737&quot;:1013,&quot;335559738&quot;:115,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p aria-level=\"6\"><b><span data-contrast=\"none\">Covered calls<\/span><\/b><span data-ccp-props=\"{&quot;335559685&quot;:835,&quot;335559738&quot;:1}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">We have a dedicated, fast-growing\u00a0Covered\u00a0Call\u00a0Index suite where we\u00a0monitor\u00a0long equity or ETF positions combined with systematically written call options.\u00a0See\u00a0our\u00a0Bloomberg\u00a0<\/span><a href=\"https:\/\/assets.bbhub.io\/professional\/sites\/10\/Bloomberg-Covered-Call-Index-Methodology.pdf\"><span data-contrast=\"none\">Covered\u00a0Call\u00a0Index\u00a0Methodology<\/span><\/a><span data-contrast=\"none\">.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:835,&quot;335559737&quot;:759,&quot;335559738&quot;:114,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p aria-level=\"6\"><b><span data-contrast=\"none\">REITs<\/span><\/b><span data-ccp-props=\"{&quot;335559685&quot;:835,&quot;335559738&quot;:1}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">We\u00a0maintain\u00a0dedicated REIT indices with defined inclusion criteria designed to categorize and track REIT performance. REITs\u00a0<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/need-to-know-reits\/\"><span data-contrast=\"none\">can provide exposure<\/span><\/a><span data-contrast=\"none\">\u00a0to different segments of the real estate market, including areas linked to evolving investment themes, such as data centers and the growth of generative AI.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:835,&quot;335559737&quot;:759,&quot;335559738&quot;:114,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 20px !important\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<\/p>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-compact row-jump-link-section bbg-row--full-bg-bleed\" data-jump-link-label='Theme 3: The Future of Finance and Strategic Autonomy' data-anchor='row-6ab736614804c' id='modern'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-3\"\n    style=\"border-radius: 16px;\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8 bbg-column--offset-1\"\n    style=\"border-radius: 16px;\"\n    >\n    <p>[vc_row_inner css=&#8221;.vc_custom_1789688275564{background-image: url(https:\/\/assets.bbhub.io\/professional\/sites\/41\/amber-gradient.jpg?id=143433) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&#8221; el_class=&#8221;corners&#8221;][vc_column_inner width=&#8221;12\/12&#8243; css=&#8221;.vc_custom_1744403247700{padding-right: 48px !important;padding-bottom: 32px !important;padding-left: 48px !important;}&#8221;]<div\n    class=\"bbg-spacer\"\n        style=\"height: 160px !important\"\n    >\n<\/div><div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2 style=\"color: white;\"><span class=\"TextRun SCXW181088093 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW181088093 BCX0\" data-ccp-charstyle=\"normaltextrun\" data-ccp-charstyle-defn=\"{&quot;ObjectId&quot;:&quot;ac0262f4-8a9e-5820-b908-2d943c5f7113|1&quot;,&quot;ClassId&quot;:1073872969,&quot;Properties&quot;:&#091;201342446,&quot;1&quot;,201342447,&quot;5&quot;,201342448,&quot;1&quot;,201342449,&quot;1&quot;,469777841,&quot;Aptos&quot;,469777842,&quot;Arial&quot;,469777843,&quot;Aptos&quot;,469777844,&quot;Aptos&quot;,201341986,&quot;1&quot;,469769226,&quot;Aptos,Arial&quot;,268442635,&quot;24&quot;,469775450,&quot;normaltextrun&quot;,201340122,&quot;1&quot;,134233614,&quot;true&quot;,469778129,&quot;normaltextrun&quot;,335572020,&quot;1&quot;,469778324,&quot;Default Paragraph Font&quot;&#093;}\"><span class=\"TextRun SCXW15243823 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW15243823 BCX0\">Theme<\/span><span class=\"NormalTextRun SCXW15243823 BCX0\"> 3<\/span><span class=\"NormalTextRun SCXW15243823 BCX0\">:<\/span><\/span><span class=\"EOP Selected SCXW15243823 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:360,&quot;335559738&quot;:75}\"> <span class=\"TextRun SCXW222526888 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW222526888 BCX0\" data-ccp-parastyle=\"heading 1\">The<\/span><span class=\"NormalTextRun SCXW222526888 BCX0\" data-ccp-parastyle=\"heading 1\">\u00a0<\/span><span class=\"NormalTextRun SCXW222526888 BCX0\" data-ccp-parastyle=\"heading 1\">Future<\/span><span class=\"NormalTextRun SCXW222526888 BCX0\" data-ccp-parastyle=\"heading 1\">\u00a0<\/span><span class=\"NormalTextRun SCXW222526888 BCX0\" data-ccp-parastyle=\"heading 1\">of Finance<\/span><span class=\"NormalTextRun SCXW222526888 BCX0\" data-ccp-parastyle=\"heading 1\">\u00a0<\/span><span class=\"NormalTextRun SCXW222526888 BCX0\" data-ccp-parastyle=\"heading 1\">and<\/span><span class=\"NormalTextRun SCXW222526888 BCX0\" data-ccp-parastyle=\"heading 1\">\u00a0<\/span><span class=\"NormalTextRun SCXW222526888 BCX0\" data-ccp-parastyle=\"heading 1\">Strategic<\/span><span class=\"NormalTextRun SCXW222526888 BCX0\" data-ccp-parastyle=\"heading 1\">\u00a0<\/span><span class=\"NormalTextRun SCXW222526888 BCX0\" data-ccp-parastyle=\"heading 1\">Autonomy<\/span><\/span><span class=\"EOP Selected SCXW222526888 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:363,&quot;335559738&quot;:136}\">\u00a0<\/span><\/span><\/span><\/span><\/h2>\n\n<\/div>\n[\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=&#8221;3\/12&#8243;]<div\n    class=\"bbg-spacer\"\n        style=\"height: 20px !important\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<div\n    class=\"bbg-spacer bbg-spacer--md\"\n    >\n<\/div>[\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=&#8221;9\/12&#8243;][\/vc_column_inner][\/vc_row_inner]<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p style=\"color: #0062dd; font-size: 24px; font-weight: 400;\"><span class=\"TextRun SCXW127167254 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW127167254 BCX0\" data-ccp-parastyle=\"heading 3\">The<\/span><span class=\"NormalTextRun SCXW127167254 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW127167254 BCX0\" data-ccp-parastyle=\"heading 3\">Fragmentation<\/span><span class=\"NormalTextRun SCXW127167254 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW127167254 BCX0\" data-ccp-parastyle=\"heading 3\">Gem<\/span><\/span><span class=\"EOP Selected SCXW127167254 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:360,&quot;335559738&quot;:98}\">\u00a0<\/span><\/p>\n<p aria-level=\"6\"><b><span data-contrast=\"none\">Equity markets are restructuring and reshaping in response to the demands of a rapidly evolving geopolitical order.<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:360,&quot;335559737&quot;:141,&quot;335559738&quot;:84,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">This reshaping and restructuring\u00a0is\u00a0being driven by\u00a0US\u00a0economic policy\u2019s increasing shift away from a universal global system toward a sharper, fragmented model.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:360,&quot;335559737&quot;:519,&quot;335559738&quot;:114,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">As\u00a0we\u00a0explored\u00a0in-depth\u00a0in\u00a0the\u00a0<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/indices-outlook-2026-report\/\"><span data-contrast=\"none\">Bloomberg\u00a0Global\u00a0Index\u00a0<\/span><\/a><a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/indices-outlook-2026-report\/\"><span data-contrast=\"none\">2026 Outlook<\/span><\/a><span data-contrast=\"none\">, for decades the\u00a0US\u00a0has played an expansive role in the global economy by anchoring trade, underwriting\u00a0security\u00a0and sustaining the postwar system.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:360,&quot;335559737&quot;:141,&quot;335559738&quot;:114,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">However, the underlying arithmetic has shifted, and that model is now changing. The new, sharper model prioritizes preferential supply chains, trusted investment corridors,\u00a0and\u00a0selective and regional security.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:360,&quot;335559737&quot;:300,&quot;335559738&quot;:114,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">This has\u00a0arguably impacted\u00a0and fragmented the G7, with some allies preferencing bilateral talks with the\u00a0US\u00a0over collective agreements, and the G7 share of global GDP\u00a0no\u00a0longer supporting the same breadth of commitments.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:360,&quot;335559737&quot;:473,&quot;335559738&quot;:114,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">In response, we are seeing heightened concerns with national security and strategic autonomy redefining equity portfolios.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:360,&quot;335559738&quot;:114,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Strategic autonomy is the capacity to make and act on decisions without external constraint or coercion. It is\u00a0emerging\u00a0as a key priority for nation-states\u00a0seeking\u00a0to de-risk and build resilience in the wake of the\u00a0US\u2019 political agenda.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:360,&quot;335559737&quot;:141,&quot;335559738&quot;:115,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Western allies\u00a0are increasing defense spending to narrow the technology gap.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:360,&quot;335559738&quot;:114,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Defense policy is also recalibrating toward resilience, regional stability, and control over critical inputs. This shift\u00a0is\u00a0extending\u00a0beyond traditional military spending to encompass energy security, critical materials, the\u00a0grid\u00a0and supply-chain infrastructure.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:360,&quot;335559737&quot;:275,&quot;335559738&quot;:115,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">For\u00a0investors,\u00a0the\u00a0implication\u00a0is\u00a0clear.\u00a0Defense\u00a0and\u00a0security-related capital expenditure is becoming a structural feature of the global economy rather than a cyclical response to isolated risks. Along with resource security, defense and security-related capital expenditures\u00a0are no longer niche allocations, but secular investment themes worthy of\u00a0closer\u00a0attention.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:1,&quot;335559685&quot;:360,&quot;335559738&quot;:112,&quot;335559740&quot;:221}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Against this backdrop, the most important questions\u00a0for\u00a0investors are: who is inside the preferred system, who is outside, and what equity markets are\u00a0levered\u00a0to that redesign?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:360,&quot;335559737&quot;:650,&quot;335559738&quot;:114,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h3><strong><span class=\"NormalTextRun SCXW263657381 BCX0\" data-ccp-parastyle=\"heading 3\">Redrawing the Investment Ma<\/span><span class=\"NormalTextRun SCXW263657381 BCX0\" data-ccp-parastyle=\"heading 3\">p<\/span><\/strong><\/h3>\n<p><span data-contrast=\"none\">Inside this preferred system are countries that align with\u00a0US\u00a0strategic\u00a0objectives, have exposure to industries\u00a0deemed\u00a0critical to national resilience, and share key attributes such as\u00a0civil liberties,\u00a0relatively stable\u00a0governance\u00a0and transparent regulatory environments. This includes Australia, Germany, the\u00a0UK\u00a0and Canada, reflecting markets positioned within an increasingly strategic global system.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:357,&quot;335559737&quot;:392,&quot;335559738&quot;:113,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Australia is particularly central to the\u00a0US\u2019 defense strategy of building a network of reliable partners in the APAC region that allow\u00a0operational\u00a0access,\u00a0possess\u00a0sophisticated\u00a0weapons,\u00a0and\u00a0that it can count on in the event of conflict in the Western Pacific.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:357,&quot;335559737&quot;:392,&quot;335559738&quot;:113,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The\u00a0Australian\u00a0Government\u00a0has\u00a0responded\u00a0by\u00a0allocating\u00a0an\u00a0extra<\/span><span data-ccp-props=\"{&quot;201341983&quot;:1,&quot;335559685&quot;:357,&quot;335559738&quot;:113,&quot;335559740&quot;:221}\">\u00a0<\/span><span data-contrast=\"none\">$38 billion (A$53 billion) in defense spending in the next 10 years in its\u00a0<\/span><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-12\/australia-2026-federal-budget-who-are-the-winners-and-losers-mp2ghs8p\"><span data-contrast=\"none\">2026-2027 budget<\/span><\/a><span data-contrast=\"none\">. It aims\u00a0to strengthen its response,\u00a0including investments in nuclear-powered submarines,\u00a0drones\u00a0and upgraded frigates.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:357,&quot;335559737&quot;:478,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Germany\u2019s export engine is showing resilience even as global trade fragments. A surge in exports, alongside higher government spending, helped Europe\u2019s largest economy\u00a0<\/span><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-22\/germany-s-exporters-helped-drive-first-quarter-growth-spurt\"><span data-contrast=\"none\">expand 0.3% in the first quarter of 2026<\/span><\/a><span data-contrast=\"none\">.\u00a0<\/span><span data-contrast=\"auto\">With Germany also increasing its focus on defense, infrastructure and strategic resilience, its deep industrial base could be well positioned as Europe directs more capital toward security and greater strategic autonomy.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:357,&quot;335559737&quot;:478,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Long overshadowed by its global peers, the UK stock market is finding new momentum in 2026. As the US redraws its trade relationships, the UK faces an effective\u00a0US\u00a0tariff rate of 7.8%,\u00a0<\/span><a href=\"https:\/\/www.bloomberg.com\/graphics\/trump-tariffs-tracker\/\"><span data-contrast=\"none\">according to\u00a0Bloomberg\u00a0Economics<\/span><\/a><span data-contrast=\"none\">,<\/span><span data-contrast=\"auto\">\u00a0below the 8.9% faced by the EU and 11.2% by Germany. That relative advantage adds another dimension to the UK equity story, where the Bloomberg United Kingdom Large &amp; Mid Cap Index offers exposure to financials, energy,\u00a0defense\u00a0and other industries increasingly relevant to a more fragmented global economy.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:357,&quot;335559737&quot;:478,&quot;335559738&quot;:113,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Canada\u2019s deep economic ties with the US put it at the center of the changing global trade order. That relationship has become more strained after trade talks broke down in August, with the US imposing\u00a0<\/span><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-08-25\/us-weighs-more-trade-measures-against-canada-after-retaliation\"><span data-contrast=\"auto\">50%<\/span><span data-contrast=\"auto\"> tariffs on about $20 billion of Canadian goods<\/span><\/a>.<span data-contrast=\"auto\">** Canada responded dollar-for-dollar, doubling tariffs on US steel and aluminum to 50% and adding new duties on products including dairy, furniture and electronics. The US has also threatened to double tariffs on Canadian autos to 50% from January 1 and is weighing further trade measures. Despite the escalation, the US remains heavily reliant on Canadian aluminum, energy and other critical resources, reinforcing Canada\u2019s strategic role as security, resilience and access to key inputs become more important. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:357,&quot;335559737&quot;:478,&quot;335559738&quot;:113,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Countries where political risk, state control of capital, proximity or geopolitical misalignment hinder integration arguably sit outside the new system. China remains a clear example as trade restrictions and strategic competition reshape capital, technology and supply chains. Canada\u2019s latest dispute with the US shows that even deeply integrated markets are not immune from rising protectionism. Yet the scale of cross-border trade and Canada\u2019s importance in key resources continue to differentiate it from less integrated economies. For global investors, these shifts can create both headwinds and opportunities, making localized equity indices increasingly relevant for diversifying market exposure.\u00a0 <\/span><\/p>\n<p class=\"small\">**As of Aug. 26, 2026<\/p>\n<h3><strong><span class=\"TextRun SCXW102755918 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW102755918 BCX0\" data-ccp-parastyle=\"heading 3\">Equity<\/span><span class=\"NormalTextRun SCXW102755918 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW102755918 BCX0\" data-ccp-parastyle=\"heading 3\">Indices<\/span><span class=\"NormalTextRun SCXW102755918 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW102755918 BCX0\" data-ccp-parastyle=\"heading 3\">for<\/span><span class=\"NormalTextRun SCXW102755918 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW102755918 BCX0\" data-ccp-parastyle=\"heading 3\">Evolving<\/span><span class=\"NormalTextRun SCXW102755918 BCX0\" data-ccp-parastyle=\"heading 3\">\u00a0<\/span><span class=\"NormalTextRun SCXW102755918 BCX0\" data-ccp-parastyle=\"heading 3\">Dynamics<\/span><\/span><span class=\"EOP Selected SCXW102755918 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:359,&quot;335559738&quot;:0}\">\u00a0<\/span><\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">To track these evolving dynamics, Bloomberg Indices has developed a targeted suite of benchmarks spanning defense, critical materials, energy security and strategic infrastructure.\u00a0 <\/span><\/p>\n<p><span data-contrast=\"none\">Together, these indices provide investors with transparent, rules-based gauges to\u00a0monitor\u00a0thematic performance.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:359,&quot;335559737&quot;:6515,&quot;335559738&quot;:114,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Two Bloomberg Equity products are especially worthy of closer examination here: the Bloomberg Transatlantic Defense Fixed Selection Index and the FAANG Select 2.0 Index.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:359,&quot;335559737&quot;:6064,&quot;335559738&quot;:115,&quot;335559740&quot;:237}\">\u00a0<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u2022\" data-font=\"Avenir Next P for BBG Demi\" data-listid=\"1\" data-list-defn-props=\"{&quot;134224900&quot;:true,&quot;335551500&quot;:2301728,&quot;335551671&quot;:0,&quot;335552541&quot;:1,&quot;335559685&quot;:539,&quot;335559991&quot;:180,&quot;469769226&quot;:&quot;Avenir Next P for BBG Demi&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u2022&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"0\" data-aria-level=\"1\"><span data-contrast=\"none\">Bloomberg Transatlantic Defense Fixed Selection Index (<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/quote\/DEFPE:IND\"><span data-contrast=\"none\">DEFPE<\/span><span data-contrast=\"none\">:IND<\/span><\/a><span data-contrast=\"none\">) is an equal-weighted fixed basket of<\/span><span data-contrast=\"none\">\u00a0<\/span><span data-contrast=\"none\">10 companies classified in the United States or Europe Developed Markets regions that derive\u00a0a large portion\u00a0of their revenues manufacturing aerospace and defense products as of January 2024.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559737&quot;:6599,&quot;335559738&quot;:114,&quot;335559740&quot;:237,&quot;469777462&quot;:&#091;539&#093;,&quot;469777927&quot;:&#091;0&#093;,&quot;469777928&quot;:&#091;1&#093;}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u2022\" data-font=\"Avenir Next P for BBG Demi\" data-listid=\"1\" data-list-defn-props=\"{&quot;134224900&quot;:true,&quot;335551500&quot;:2301728,&quot;335551671&quot;:0,&quot;335552541&quot;:1,&quot;335559685&quot;:539,&quot;335559991&quot;:180,&quot;469769226&quot;:&quot;Avenir Next P for BBG Demi&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u2022&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"none\">Bloomberg\u00a0FAANG\u00a0Select\u00a02.0\u00a0Index\u00a0(<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/quote\/BFAANGST:IND\"><span data-contrast=\"none\">BFAANGST:IND<\/span><\/a><span data-contrast=\"none\">)\u00a0is constructed to track the performance of companies in\u00a0the\u00a0US\u00a0and Canada\u00a0with exposure to\u00a0national and natural resource security. Companies must have their primary\u00a0business activities involved in Fuel (F), Aerospace &amp; Defense (A), Agriculture (A), Nuclear (N), and Gold and other Base\u00a0&amp; Precious Metals (G).\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559737&quot;:6064,&quot;335559738&quot;:103,&quot;335559740&quot;:237,&quot;469777462&quot;:&#091;539&#093;,&quot;469777927&quot;:&#091;0&#093;,&quot;469777928&quot;:&#091;1&#093;}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u2022\" data-font=\"Avenir Next P for BBG Demi\" data-listid=\"1\" data-list-defn-props=\"{&quot;134224900&quot;:true,&quot;335551500&quot;:2301728,&quot;335551671&quot;:0,&quot;335552541&quot;:1,&quot;335559685&quot;:539,&quot;335559991&quot;:180,&quot;469769226&quot;:&quot;Avenir Next P for BBG Demi&quot;,&quot;469769242&quot;:&#091;8226&#093;,&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u2022&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"none\">It has\u00a0<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/beyond-big-tech-how-faang-2-0-is-outperforming-in-a-new-era-of-uncertainty\/\"><span data-contrast=\"none\">demonstrated significant<\/span><\/a><span data-contrast=\"none\">\u00a0<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/beyond-big-tech-how-faang-2-0-is-outperforming-in-a-new-era-of-uncertainty\/\"><span data-contrast=\"none\">outperformance<\/span><\/a><span data-contrast=\"none\">*** <\/span><span data-contrast=\"none\">versus the broader stock market and remarkable resilience during market turbulence. FAANG\u00a02.0 companies can be associated with sectors that underpin national stability and economic resilience.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559737&quot;:6064,&quot;335559738&quot;:103,&quot;335559740&quot;:237,&quot;469777462&quot;:&#091;539&#093;,&quot;469777927&quot;:&#091;0&#093;,&quot;469777928&quot;:&#091;1&#093;}\">\u00a0<\/span><\/li>\n<\/ul>\n<p class=\"small\">**Past performance is not indicative of future results.<\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 20px !important\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<\/p>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-compact row-jump-link-section bbg-row--full-bg-bleed\" data-jump-link-label='Conclusion: Harnessing Indices Innovation' data-anchor='row-6ab736614be44' id='modern'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-3\"\n    style=\"border-radius: 16px;\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8 bbg-column--offset-1\"\n    style=\"border-radius: 16px;\"\n    >\n    <p>[vc_row_inner css=&#8221;.vc_custom_1789688275564{background-image: url(https:\/\/assets.bbhub.io\/professional\/sites\/41\/amber-gradient.jpg?id=143433) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&#8221; el_class=&#8221;corners&#8221;][vc_column_inner width=&#8221;12\/12&#8243; css=&#8221;.vc_custom_1744403247700{padding-right: 48px !important;padding-bottom: 32px !important;padding-left: 48px !important;}&#8221;]<div\n    class=\"bbg-spacer\"\n        style=\"height: 160px !important\"\n    >\n<\/div><div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2 style=\"color: white;\"><span class=\"TextRun SCXW181088093 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW181088093 BCX0\" data-ccp-charstyle=\"normaltextrun\" data-ccp-charstyle-defn=\"{&quot;ObjectId&quot;:&quot;ac0262f4-8a9e-5820-b908-2d943c5f7113|1&quot;,&quot;ClassId&quot;:1073872969,&quot;Properties&quot;:&#091;201342446,&quot;1&quot;,201342447,&quot;5&quot;,201342448,&quot;1&quot;,201342449,&quot;1&quot;,469777841,&quot;Aptos&quot;,469777842,&quot;Arial&quot;,469777843,&quot;Aptos&quot;,469777844,&quot;Aptos&quot;,201341986,&quot;1&quot;,469769226,&quot;Aptos,Arial&quot;,268442635,&quot;24&quot;,469775450,&quot;normaltextrun&quot;,201340122,&quot;1&quot;,134233614,&quot;true&quot;,469778129,&quot;normaltextrun&quot;,335572020,&quot;1&quot;,469778324,&quot;Default Paragraph Font&quot;&#093;}\"><span class=\"EOP Selected SCXW15243823 BCX0\" data-ccp-props=\"{&quot;335559685&quot;:360,&quot;335559738&quot;:75}\"><span class=\"TextRun SCXW222526888 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW222526888 BCX0\" data-ccp-parastyle=\"heading 1\">Conclusion: Harnessing Indices Innovation<\/span><\/span><\/span><\/span><\/span><\/h2>\n\n<\/div>\n[\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=&#8221;3\/12&#8243;]<div\n    class=\"bbg-spacer\"\n        style=\"height: 20px !important\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<div\n    class=\"bbg-spacer bbg-spacer--md\"\n    >\n<\/div>[\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=&#8221;9\/12&#8243;][\/vc_column_inner][\/vc_row_inner]<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span style=\"font-weight: 400;\"><strong>When markets and companies change, the indices that are built to track them must change, too.<\/strong> <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investors are quickly grasping how fiscal realignment, sustainability mandates and technological innovation intersect and in doing so, are positioning themselves to identify and align with the divergence decade\u2019s winners.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Choosing the right index partner, one who is responsively tracking the intersection of finance, infrastructure and national security, while offering flexible pricing that represents true value, has never been more important.<\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h3><strong>The Modern Benchmark Choice<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">At Bloomberg, we are well positioned to collaborate with clients to transform their investment ideas into rules-based indices via our flexible architecture.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Bloomberg Equity Indices universe spans over 30,000 equities and covers more than 99% of investable free-float market cap across 47+ countries.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bloomberg Equity Indices provide a modern benchmark framework designed for today\u2019s evolving equity markets. While many legacy providers continue to focus on broad, market-cap-weighted efficiency, Bloomberg is detecting and responding to an increasing demand for rules-based, transparent benchmarks that can thrive within this rapidly emerging paradigm. This combines our signature advanced design, flexibility and ecosystem integration with cross-channel synergy and flexible customizations for genuine stability, strategy and edge, as together we navigate the divergence decade.<\/span><\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 20px !important\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<div class=\"bbg-accordion transparent\">\n\t<input type=\"checkbox\"  id=\"bbg-accordion-toggle-6ab736614e3da\">\n\t<div class=\"bbg-accordion-parent\" data-accordion-toggle aria-expanded=\"false\">\n\t\t<label class=\"bbg-accordion-label\" for=\"bbg-accordion-toggle-6ab736614e3da\">\n\t\t\t\t<h4 class=\"bbg-accordion-title\" data-label=\"Disclaimer\">\n\t\tDisclaimer\n\t<\/h4>\n\n\t\t\t\t\t<\/label>\n\t<\/div>\n\t<div class=\"bbg-accordion-content\">\n\t\t<div class=\"bb-wysiwyg\">\n\t<p class=\"small\">The data and other information included in this publication is for illustrative purposes only, available \u201cas is\u201d, non-binding and constitutes the provision of factual information, rather than financial product advice. BLOOMBERG and BLOOMBERG INDICES (the \u201cIndices\u201d) are trademarks or service marks of Bloomberg Finance L.P. (\u201cBFLP\u201d). BFLP and its affiliates, including BISL, the administrator of the Indices, or their licensors own all proprietary rights in the Indices. Bloomberg L.P. (\u201cBLP\u201d) or one of its subsidiaries provides BFLP, BISL and its subsidiaries with global marketing and operational support and service. Certain features, functions, products and services are available only to sophisticated investors and only where permitted. Bloomberg (as defined below) does not approve or endorse these materials or guarantee the accuracy or completeness of any information herein, nor does Bloomberg make any warranty, express or implied, as to the results to be obtained therefrom, and, to the maximum extent allowed by law, Bloomberg shall not have any liability or responsibility for injury or damages arising in connection therewith. Nothing in the Services or Indices shall constitute or be construed as an offering of financial instruments by Bloomberg, or as investment advice or investment recommendations (i.e., recommendations as to whether or not to \u201cbuy\u201d, \u201csell\u201d, \u201chold\u201d, or to enter or not to enter into any other transaction involving any specific interest or interests) by Bloomberg. Information available via the Index should not be considered as information sufficient upon which to base an investment decision. All information provided by the Index or in this publication is impersonal and not tailored to the needs of any person, entity or group of persons. Absence of any trademark or service mark from this list does not waive Bloomberg\u2019s intellectual property rights in that name, mark or logo. For the purposes of this publication, Bloomberg includes BLP, BFLP, BISL and\/or their affiliates.<br \/>\nBISL is registered in England and Wales under registered number 08934023 and has its registered office at 3 Queen Victoria Street, London, England, EC4N 4TQ. BISL is authorised and regulated by the Financial Conduct Authority as a benchmark administrator.<\/p>\n<p class=\"small\">\u00a9 2026 Bloomberg. All rights reserved.<\/p>\n\n<\/div>\n\n\n\t<\/div>\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>From AI infrastructure to strategic autonomy, this report looks at the forces redefining equity markets and influencing how institutional investors think about benchmarks in a more fragmented world.<\/p>\n","protected":false},"author":1935,"featured_media":95073,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-report.php","format":"standard","meta":{"_yoast_wpseo_primary_category":"453","footnotes":""},"categories":[453,3661,444],"tags":[3672,547,3842],"series":[],"class_list":["post-143214","post","type-post","status-publish","format-standard","hentry","category-markets","category-technology","category-trading","tag-equity-indices","tag-indices","tag-indices_2026","type-report"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - 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