While the battle for the leading indices continues to rage, Salomon Smith Barney has come out with its boxing gloves on. A big marketing campaign has been kicked off to push its global equity index (SSBGEI), which it claims to be one of the most comprehensive benchmarking systems for global equity investors.

It will no doubt be an uphill struggle as rival Morgan Stanley Dean Witter, grandaddy of the indices, has about a 90% share of the market. However, Ian Toner, vice-president and head of global marketing for the equity index group, is undaunted. He points out that not all indices are calculated in a similar fashion and that investors should 'do more due diligence on the methodology being used to construct an index'.