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 18, 2011.
In the Dow Jones Islamic Market World Index, 112 components will be added while 49 components will be deleted. That increases the number of components in the index to 2,528 from 2,465. The top five components by free-float market capitalization that will be added to the index are Teck Resources Ltd. Cl B (Canada, Basic Resources, TCK.B.T), Sandvik AB (Sweden, Industrial Goods & Services, SAND.SK), China Shenhua Energy Co. Ltd. (China, Basic Resources, 1088.HK), Clorox Co. (United States, Personal & Household Goods, CLX) and Assa Abloy AB Series B (Sweden, Construction & Materials, ASSA-B.SK).
The total free-float market capitalization of the reconstituted Dow Jones Islamic Market World Index increased to US$14.31 trillion from US$14.11 trillion.
In the Dow Jones Islamic Market Asia/Pacific Index, with 62 additions and 26 deletions, the number of components in the index will increase to 1,199 from 1,163. The top five components by free-float market capitalization that will be added to the index are China Shenhua Energy Co. Ltd. (China, Basic Resources, 1088.HK), Coal India Ltd. (India, Basic Resources, 533278.BY), S-Oil Corp. (South Korea, Oil & Gas, 010950.SE), Zhaojin Mining Industry Co. Ltd. (China, Basic Resources, 1818.HK) and Mando Corp. (South Korea, Automobiles & Parts, 060980.SE).
The total free-float market capitalization of the reconstituted Dow Jones Islamic Market Asia/Pacific Index increased to US$2.66 trillion from US$2.60 trillion.
In the Dow Jones Islamic Market Europe Index, 12 components will be added, while five components will be deleted. That increases the number of components in the index to 388 from 381. The top five components by free-float market capitalization that will be added to the index are Sandvik AB (Sweden, Industrial Goods & Services, SAND.SK), Assa Abloy AB Series B (Sweden, Construction & Materials, ASSA-B.SK), Pandora A/S (Denmark, Personal & Household Goods, PNDORA.KO), Fiskars Oyj (Finland, Personal & Household Goods, FIS1V.HE) and ASOS PLC (United Kingdom, Retail, ASC.LN).
The total free-float market capitalization of the reconstituted Dow Jones Islamic Market Europe Index increased to US$3.11 trillion from US$3.06 trillion.
In the Dow Jones Islamic Market Americas Index, the number of components will increase to 798 from 776, with 37 additions and 15 deletions. The top five components by free-float market capitalization that will be added to the index are Teck Resources Ltd. Cl B (Canada, Basic Resources, TCK.B.T), Clorox Co. (United States, Personal & Household Goods, CLX), Motorola Mobility Holdings Inc. (United States, Technology, MMI), MEG Energy Corp. (Canada, Oil & Gas, MEG.T) and New Gold Inc. (Canada, Basic Resources, NGD.T).
The total free-float market capitalization of the reconstituted Dow Jones Islamic MarketAmericas Index increased to US$8.33 trillion from US$8.24 trillion.
In the Dow Jones Islamic Market MENA Index, no components will be added, while three components will be deleted. That decreases the number of components in the index to 160 from 163.
The total free-float market capitalization of the Dow Jones Islamic Market MENA Index decreased to US$103.05 billion from US$106.94 billion.
In the Dow Jones Islamic Market BRIC Equal Weighted Index, four components will be added, while five components will be deleted. That decreases the number of components in the index to 84 from 85.
The total free-float market capitalization of the reconstituted Dow Jones Islamic Market BRIC Equal Weighted Index increased to US$795.40 billion from US$767.98 billion.
In the Dow Jones Islamic Market China Offshore Index, two components will be added and two components will be deleted. The number of components in the index will remain at 23.
The free-float market capitalization of the reconstituted Dow Jones Islamic Market China Offshore Index increased to US$110.60 billion from US$95.01 billion.
In the Dow Jones Islamic Market Hong Kong Index, with 11 additions and one deletion, the number of components will increase to 144 from 134. The top five components by free-float market capitalization that will be added to the index are Bosideng International Holdings Ltd. (Hong Kong, Personal & Household Goods, 3998.HK), Winsway Coking Coal Holdings Ltd. (Hong Kong, Basic Resources, 1733.HK), SITC International Holdings Co. Ltd. (Hong Kong, Industrial Goods & Services, 1308.HK), Boshiwa International Holding Ltd. (Hong Kong, Personal & Household Goods, 1698.HK) and West China Cement Ltd. (Hong Kong, Construction & Materials, 2233.HK).
The free-float market capitalization of the reconstituted Dow Jones Islamic Market Hong Kong Index increased to US$176.92 billion from US$164.86 billion.
In the Dow Jones Islamic Market India Index, seven components will be added and nine components will be deleted. That decreases the number of components in the index to 175 from 177. The top five components by free-float market capitalization that will be added to the index are Coal India Ltd. (India, Basic Resources, 533278.BY), Prraneta Industries Ltd. (India, Industrial Goods & Services, 531611.BY), Orissa Minerals Development Ltd. (India, Basic Resources, 590086.BY), MOIL Ltd. (India, Basic Resources, 533286.BY) and Persistent Systems Ltd. (India, Technology, 533179.BY).
The free-float market capitalization of the reconstituted Dow Jones Islamic Market India Index decreased to US$274.03 billion from US$286.91 billion.
In the Dow Jones Islamic Market Turkey Index, one component will be added and no components will be deleted. The number of components in the index increases to 33 from 32.
The free-float market capitalization of the reconstituted Dow Jones Islamic Market Turkey Index decreased to US$16.16 billion from US$16.19 billion.
In the Dow Jones Islamic Market Titans 100 Index and sub-index, Dow Jones Islamic Market U.S. Titans 50 Index, UnitedHealth Group Inc. (United States, Health Care, UNH) will be replaced by Halliburton Co. (United States, Oil & Gas, HAL). The change is a result of the regular quarterly review of the Dow Jones Islamic Market World Index. The Dow Jones Islamic Market Titans 100 and its three sub-indexes, Dow Jones Islamic Market U.S. Titans 50, Dow Jones Islamic Market Asia/Pacific Titans 25 and Dow Jones Islamic Market Europe Titans 25 are reviewed annually in June.
The free-float market capitalization of the reconstituted Dow Jones Islamic Market Titans 100 Index increased to US$6.763 trillion from US$6.762 trillion.The market capitalization values of all indexes cited in this report are as of March 8, 2011.
The Dow Jones DFM Index, Dow Jones Islamic Market Sustainability Index, Dow Jones Islamic Market Country, Dow Jones Islamic Market Regional and Dow Jones Islamic Market Industry indexes are also part of this regular quarterly review.
The Dow Jones DFM Titans 10 Index is reviewed annually in March. The Dow Jones Islamic Market Malaysia Titans 25 Index is reviewed annually in June and the Dow Jones Islamic Market China/Hong Kong Titans 30 Index is reviewed annually in September.
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 125 licensees with more than US$5 billion in assets benchmarked to the Dow Jones Islamic Market Indexes.
More information on the Dow Jones Islamic Market Indexes is available on www.djindexes.com.
Company additions to and deletions from the Dow Jones Islamic Market Indexes do not in any way reflect an opinion on the investment merits of the company.