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Rating:ETF Providers Get Islamic Indices Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, February 25, 2003

ETF Providers Get Islamic Indices

by: Sean Hanna, Editor in Chief

The current turmoil in the Mid-East did not stop Dow Jones from adding a new index to its Dow Jones Islamic Market Indexes family. The publisher took the wraps off four new subsets of the index that it expects will be used in the creation of exchange-traded funds.

The four new indices are: Dow Jones Islamic Market Titans 100, Dow Jones U.S. Islamic Titans 50, Dow Jones Europe Islamic Titans 25 and Dow Jones Asia/Pacific Titans 25.

Lars Hamich, executive director global business development of Dow Jones Indexes, said that the new offering are a response to "an increasing demand for social-ethical and Islamic index investment." He added that he expets new ETFs based on the indices to be launched in the "near future."

The publisher currently licenses its indices to SSgA, Barclays Global Investors, TD Asset Management, AXA Investment Managers and IndexChange Investment. Hamich did not elaborate on which firms may license the new indices.

Azzad Asset Management has licensed the initial Dow Jones Islamic index for an open-end mutual fund.  

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