Dow Jones Indexes review for Q1 2010

Published March 14th, 2010 - 07:46 GMT

Dow Jones Indexes, a leading global index provider, today announced the results of the regular quarterly review of the Dow Jones Islamic Market Indexes. All changes will be effective after the close of trading on Friday, March 19, 2010.

 

In the Dow Jones Islamic Market World Index, 121 components will be added while 47 components will be deleted. That increases the number of components in the index to 2,417 from 2,343.

 

In the Dow Jones Islamic Market Asia/Pacific Index, with 68 additions and 23 deletions, the number of components in the index will increase to 1,092 from 1,047. In the Dow Jones Islamic Market Europe Index, 18 components will be added, while six components will be deleted. That increases the number of components in the index to 395 from 383.  In the Dow Jones Islamic Market Americas Index, the number of components will increase to 784 from 775, with 22 additions and 13 deletions. In the Dow Jones Islamic Market MENA Index, 20 components will be added, while eight components will be deleted. That increases the number of components in the index to 163 from 151.

 

In the Dow Jones Islamic Market BRIC Equal Weighted Index, 23 components will be added, while two components will be deleted. That increases the number of components in the index to 81 from 60.

 

In the Dow Jones Islamic Market China Offshore Index, six components will be added and one component will be deleted. That increases the number of components in the index to 25 from 20. In the Dow Jones Islamic Market Hong Kong Index, with 17 additions and four deletions, the number of components will increase to 103 from 90. In the Dow Jones Islamic Market India Index, one component will be added and one component will be deleted. The number of components in the index will remain at 178. In the Dow Jones Islamic Market Turkey Index, three components will be added and no component will be deleted. The number of components in the index increases to 30 from 27.

 

The total free-float market capitalization of the reconstituted Dow Jones Islamic Market World Index increased to US$12.05 trillion from US$12.01 trillion.

 

The total free-float market capitalization of the reconstituted Dow Jones Islamic Market Asia/Pacific Index increased to US$2.32 trillion from US$2.31 trillion, while the total free-float market capitalization of the reconstituted Dow Jones Islamic Market Europe Index increased to US$2.53 trillion from US$2.51 trillion. The total free-float market capitalization of the reconstituted Dow Jones Islamic Market Americas Index increased to US$7.03 trillion from US$7.02 trillion and the total free-float market capitalization of the Dow Jones Islamic Market MENA Index increased to US$115.03 billion from US$106.08 billion.

 

The total free-float market capitalization of the reconstituted Dow Jones Islamic Market BRIC Index increased to US$562.43 billion from US$475.30 billion.

 

The free-float market capitalization of the reconstituted Dow Jones Islamic Market China Offshore Index decreased to US$45.05 billion from US$48.48 billion, while the free-float market capitalization of the reconstituted Dow Jones Islamic Market Hong Kong Index increased to US$123.84 billion from US$112.59 billion. The free-float market capitalization of the reconstituted Dow Jones Islamic Market India Index increased to US$308.74 billion from US$306.99 billion, while the free-float market capitalization of the reconstituted Dow Jones Islamic Market Turkey Index increased to US$15.88 billion from US$15.76 billion.

 

The market capitalization values of all indexes cited in this report are as of March 9, 2010.

 

The Dow Jones Islamic Market Indexes were introduced in 1999 as the first indexes intended to measure the global universe of investable equities that pass screens for Shari’ah compliance. With more than 100 indexes, the series is the most comprehensive family of Islamic market measures and includes regional, country, and industry indexes, all of which are subsets of the Dow Jones Islamic Market Index.

 

An independent Shari’ah Supervisory Board counsels Dow Jones Indexes on matters related to the compliance of index-eligible companies. To determine their eligibility for the Dow Jones Islamic Market Indexes, stocks are screened based on their industry type and their financial ratios. Excluded are companies engaged in the following lines of business: alcohol, tobacco, pork-related products, financial services, defense/weapons and entertainment. Also excluded are companies for which the following financial ratios are 33% or more: debt divided by trailing 24-month average market capitalization; cash plus interest-bearing securities divided by trailing 24-month average market capitalization; and accounts receivables divided by trailing 24-month average market capitalization.

 

There are currently more than 150 licensees with more than US$7 billion in assets benchmarked to the Dow Jones Islamic Market Indexes.


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