S&P Adds Three More Shariah-Compliant Indexes

October 29, 2007 (PLANSPONSOR.com) - Standard & Poor's has added three more Shariah-compliant indexes, the S&P Global Infrastructure Shariah, the S&P Global Healthcare Shariah and the S&P/IFCI Large-MidCap Shariah.

According to a press release, the three new indexes include:

  • The S&P Global Infrastructure Shariah – meant to provide liquid and tradable exposure to 20 companies from around the world that represent the listed infrastructure universe while adopting explicit selection criteria defined by Islamic law. The group of investments is drawn from the S&P Global Infrastructure Index and has three distinct infrastructure clusters: energy, transportation, and utilities.
  • The S&P Global Healthcare Shariah – comprised of companies in the S&P 500, S&P Europe 350, and S&P Japan 500 Shariah-compliant indexes sit in the GICS Health Care sector – which included 72 companies as of the end of September.
  • The S&P/IFCI Large-MidCap Shariah – currently includes stocks from the following emerging market countries: Argentina, Brazil, Chile, China, the Czech Republic, Egypt, Hungary, India, Indonesia, Israel, Malaysia, Mexico, Morocco, Peru, the Philippines, Poland, Russia, South Africa, South Korea, Taiwan, Thailand and Turkey. S&P also added five country indexes, including Egypt, Jordan, Lebanon, Morocco, and Tunisia, which are part of the S&P/IFCG emerging market series.

All S&P Shariah indexes are screened by Ratings Intelligence Partners, a Kuwait-based consulting company specializing in the Islamic investment market.

For more information, visit   www.standardandpoors.com/indices .