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Article: Daiwa ETF gives boost to Islamic capital market.
- Article from:
- Arab News (Jeddah, Saudi Arabia)
- Article date:
- July 7, 2008
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Byline: Mushtak Parker
LONDON: The launch a few weeks ago of the Daiwa ETF (exchange traded fund) marks a further boost for the global Islamic capital markets and the increasing involvement of Japanese financial services companies in the sector. For the Daiwa ETF is a Shariah-compliant fund based on the FTSE Shariah Japan 100 Index, which was launched in April this year.
The Daiwa ETF, which is seeded at $20 million, is promoted by Daiwa Asset Management, the second largest asset manager in Japan after Nomura Asset Management, with funds under management of $96.34 billion at end February 2008. Daiwa, which has a strong relationship with FTSE and the ...