Mumbai, Jan 15: Dow Jones Indexes, a leading global index provider, and Dharma Investments, a private investment firm, today launched the Dow Jones Dharma Indexes.
The new Indexes measure the performance of the companies selected according to the values systems and principles of Dharmic religious traditions, especially Hinduism and Buddhism. The Dow Jones Dharma Indexes include 250 scrips from Indian stock market on the basis of their performance in the last fiscal. The Indexes are designed to underline financial products such as exchange-traded funds and other investable products that enable investors to participate in the performance of companies, which are compliant with Dharmic religious traditions.
Dow Jones Indexes President Michael A Petronella said, ''The launch of the Index marks a major step in our effort to further expand our range of faith based indexes.'' The index universe for the Dow Jones Dharma Indexes is defined as the top 5,000 components of the Dow Jones Wilshire Global market index as measured by float adjusted market capitalisation.
To be included in the Dharma Dow Jones Indexes, stocks must pass a set of industry, environmental, corporate governance and qualitative screens for Dharmic compliance.
Excluded from the indexes are companies from sectors that are deemed unacceptable due to the nature of their business activities and operations.