Monex launches the "Slim" stock index – Economy

Mexico City. There are things that can only be accessed with a fortune of 73 billion dollars. One of them is to have a stock index and Mexican tycoon Carlos Slim already has his.

The Slim index was launched on Tuesday by the local financial group Monex, which said in a note that the indicator is a way of recognizing the trajectory and ability to generate value of the largest businessman in Mexico and one of the richest in the world.

The sample is made up of billionaire firms, including telecommunications giant América Móvil, the industrial and retail conglomerate Grupo Carso, the financial group Inbursa and the mining company Frisco.

Like everything in the world of investments, the return is key and in this area the Slim index has chiaroscuro. In the year, according to Monex, the indicator records a gain of 1.7 percent, below 2.4 percent of the S&P / BMV IPC, the main Mexican index.

In contrast, only in August, Slim companies measured by the new indicator rebounded 6.2 percent, a figure greater than 4.3 in the Mexican market.

Despite the ups and downs, the relevance of the index lies in its size. Currently, the market value of Slim's companies in the stock market amounts to 70 billion dollars, about 14 percent of the total Mexican stock market. In addition, that value is equivalent to 5.2 percent of the country's Gross Domestic Product, Monex said.

Slim's fortune, of a Lebanese father and Mexican mother, skyrocketed with the creation of América Móvil, and later expanded to other sectors, such as mining and infrastructure. He also expanded his domain in the media, with a participation in the newspaper The New York Times, among other investments.