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Since January 2007, QE Al Rayan Index has generated a cumulative return of 180.2%. Over the same period the QE Total Return Index (the conventional equivalent) is up 86.0% while the QE Index has risen 30.2%.
For the quarter ended June 30, 2013, both the QE Al Rayan Islamic Index and the QE Index gained 8.7%. Comparing the performance since the start of 2013, the QE Al Rayan Islamic Index rose 12.6% vs the QE Index +11.5%.
In the second quarter of 2013, the three best performers in the QE Al Rayan Islamic Index were United Development Company (+35.8%), Qatari Investors Group (+23.6%) and Medicare Group (+15.3%).
Over the same period, the three worst performing stocks were Zad Holding Co (-4.3%), Qatar Islamic Bank (-3.9%) and Qatar Meat & Livestock Co (-3.8%).
Out of the 17 companies in the QE Al Rayan Islamic Index, 13 rose during the second quarter while 4 declined. This brings the advance/decline ratio to a healthy 3.25x.
In January 2013, the QE Al Rayan Islamic Index was launched by Qatar Exchange and Al Rayan Investment. It is a total return index, reflecting both price performance and dividend income, of Shari’a compliant stocks (as approved by Al Rayan’s Shari’a Supervisory Board) listed on the Qatar Exchange.
The index has been designed as an attractive and diversified reference for all investors to gain exposure to the Qatari growth story. In creating the index, QE and Al Rayan focused on the following important criteria: single stock concentration, sector diversification, liquidity of underlying shares and Shari’a compliance.
