Solactive, a manufacturer of indices that tap into specialised sources of return, has launched an index that captures companies in the ‘sharing economy’.
The Solactive Sharing Economy Index tracks companies such as those involved in peer-to-peer sharing of goods. This range of companies includes sectors like car sharing, hospitality, private rentals, peer-to-peer lending and co-working.
The index tracks other ‘modern’ economies, such as on-demand and subscription economies.
Solactive said that the sharing economy had been on the rise for many years, with 26% of US internet users engaged in it in 2017, but this is expected to be 38% in 2021.
While over half of participants in the sharing economy put the emphasis on price, Solactive said 30% valued the direct communication between customers and service providers.
For another 31%, environmental protection and sustainability represented a crucial factor.
The index includes listed companies that are competing with the large private “unicorns” such as Airbnb, Uber and Lyft. The index is equally weighted and also includes large companies such as Alphabet and Daimler.
Timo Pfeiffer, head of research at Solactive, said: “The sharing economy is reflecting a current shift in our societal behavior. Nowadays, we prefer to share resources for a broader cause and more efficiency.”
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