Javelin launches first US listed Islamic ETF
Kuala Lumpur, July 2, 2009
Investment adviser Javelin Investment Management has launched the first US-listed Islamic exchange traded fund, the fund's index provider said.
The fund tracks the Dow Jones Islamic Market International Titans 100 index, which measures the stock performance of 100 top Islamic ex-US companies, Dow Jones said in a statement.
So far this year, the index is up 10.34 percent through June 30, 2009, the statement said.
The index excludes stocks of companies involved in alcohol, tobacco, pork-related products, financial services, weapons and entertainment, Dow Jones said. -Reuters