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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 at the start of trading on Monday, September 22, 2008.
In the Dow Jones Islamic Market World Index, 91 components will be added while 160 components will be deleted. That brings the number of components in the index to 2,321.
With 34 additions and 107 deletions, the number of components in the Dow Jones Islamic Market Asia/Pacific Index will decrease to 1,006. In the Dow Jones Islamic Market Europe Index, 25 components will be added while 21 components will be deleted. That brings the number of components in the index to 394. The number of components in the Dow Jones Islamic Market Americas Index will remain at 866, with 27 additions and 27 deletions.
In the Dow Jones Islamic Market BRIC Equal Weighted Index, 6 components will be added while 8 components will be deleted. That brings the number of components in the index to 80.
In the Dow Jones Islamic Market China Offshore Index, 1 component will be added while 5 components will be deleted. That brings the number of components to 24. With 9 additions and 22 deletions, the number of components in the Dow Jones Islamic Market Hong Kong Index will decrease to 122. In the Dow Jones Islamic Market India Index, 20 components will be added while 21 components will be deleted. That brings the number of components in the index to 217. The number of components in the Dow Jones Islamic Market Turkey Index will increase to 32, with 3 additions and 1 deletion.
The total free-float market capitalization of the reconstituted Dow Jones Islamic Market World Index increased to US$12.86 trillion from US$12.84 trillion1.
The total free-float market capitalization of the reconstituted Dow Jones Islamic Market Asia/Pacific Index decreased to US$1.86 trillion from US$1.90 trillion, while the Dow Jones Islamic Market Europe Index increased to US$3.07 trillion from US$3 trillion. As of September 15, 2008, the total free-float market capitalization of the reconstituted Dow Jones Islamic Market Americas Index decreased to US$7.80 trillion from US$7.83 trillion.
The total free-float market capitalization of the reconstituted Dow Jones Islamic Market BRIC Index decreased to US$ 0.47 trillion from US$ 0.48 trillion.
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 70 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 12-month average market capitalization; cash plus interest-bearing securities divided by trailing 12-month average market capitalization; and accounts receivables divided by trailing 12-month average market capitalization.
There are currently more than 75 licensees with more than US $7 billion in assets benchmarked to the Dow Jones Islamic Market Indexes.
More information on the Dow Jones Islamic Market indexes are available on www.djindexes.com.
1The market capitalization values of all indexes cited in this report are as of September 15, 2008.
