Dow Jones SAFE Pakistan Index: AHIML enters licensing agreement with Dow Jones |
RECORDER REPORT |
Saturday, 14 Mar, 2009 4:28 am |
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KARACHI : Arif Habib Investment Management Limited (AHIML) has entered a licensing agreement with Dow Jones for the 'Dow Jones SAFE Pakistan Index' to underline AHIML's proposed fund namely "AH Dow Jones - SAFE Pakistan Index Fund," an open-end Index Tracker Fund. The Dow Jones SAFE Pakistan Index measures the performance of Pakistan traded securities and is a sub index of the "Dow Jones SAFE 100 Index".
Dow Jones Indexes and the South Asian Federation of Exchanges (SAFE) have entered a joint marketing agreement pursuant to which Dow Jones Indexes acts as the exclusive licensor of the Dow Jones SAFE Indexes. The launch of Dow Jones SAFE 100 Index was held in Abu Dhabi on March 11, 2009.
Dow Jones Indexes is a leading full-service index provider that develops, maintains and licences indexes for use as benchmarks and as the basis of investment products. Best known for the Dow Jones Industrial Average, Dow Jones Indexes offers more than 130,000 equity indexes as well as fixed-income and alternative indexes. Speaking on the occasion, Nasim Beg, CE of Arif Habib Investments said that the objective of the fund is to provide investors with a total return that closely corresponds to the return of the Dow Jones SAFE Pakistan Index.
Arif Habib Investment Management Limited has been a pioneer in introducing unique and innovative investment products for investors and intends to continue doing so. Aftab Ahmad Chaudhry, Secretary General Safe and MD/CEO Islamabad Stock Exchange said that SAFE has launched first-ever Dow Jones SAFE 100 Index to promote the South Asian region as a combined investment destination for the global fund managers and investors.
He said that the Dow Jones SAFE 100 Index includes 50 Indian, 39 Pakistani, 3 Bangladeshi, 5 Mauritanian and 3 Sri Lankan companies. Adnan Afridi, Managing Director, Karachi Stock Exchange and newly elected Chairman of the Executive Committee of SAFE also spoke on the occasion.
Copyright Business Recorder, 2009
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