Javelin Investment Management has unveiled the Jets Dow Jones Islamic Market International Index Fund, the first Shariah-compliant ETF in the US, on the NYSE Arca platform.
The launch marks the first offering for Javelin Investment Management, which was created to deliver a series of ETFs. The fund, which is a part of the Javelin Exchange-Traded Trust, tracks the performance of the Dow Jones Islamic Market International Titans 100 index. The index comprises the 100 leading ex-US companies that have passed rules-based screens for Shariah compliance, based on their industry type and their financial ratios. Companies that are excluded are those relating to alcohol, tobacco, pork products, financial services, defence and weapons, as well as entertainment....
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
