Standard & Poor's has launched a fully investable S&P Pan Asia Syariah Index, the latest addition to the S&P Global Syariah Index Series.
The new index, which draws stocks from nine Asian markets in the S&P Citigroup Global Equity Index, will enable Islamic investors to benchmark their investment on a regional basis, and give product providers the opportunity to develop structured products tailored to the Islamic market.
The countries eligible for inclusion are China, Hong Kong, India, Malaysia, the Philippines, Singapore, South Korea, Taiwan and Thailand. Australia, Japan and New Zealand are excluded.
"We are delighted to be able to offer a fully-investable Pan-Asian Syariah compliant index," Alka Banerjee, vice president of S&P's Index Services, said in statement yesterday in conjunction with the launch of the index here.
"The launch builds upon the success of our other indices launched during the past six months as part of the S&P Global Syariah Index Series.
"Standard & Poor's approach is to create meaningful, product-based indices that give Islamic investors exposure to the same headline markets that conventional investors have enjoyed for years.
Via The Edge Daily.