Time to launch stock indices

Time said on Monday it would license its Fortune brand for stock indexes based on the Fortune 500 in a new partnership with Barclays in an effort to diversify Time’s revenue into the growing index-investing business.

The Barclays Fortune 500 Equal Weighted Index will launch in July, tracking about 450 publicly traded companies with a combined revenue of more than $11 trillion, Dupe Adeyemo, a director at Barclays, told Reuters.

The index will exclude private companies, master limited partnerships and companies that do not meet liquidity requirements among the Fortune 500, Adeyemo said.