Dow Jones Jumps Into Social Responsibility Derby

A new index was launched Sept. 8 by Dow Jones Indexes and Zurich-based researcher Sustain-able Asset Management to measure the world's socially responsible companies that offer long-term returns.


Everybody’s Getting Into the Indexes Act — Even Hedge Funds

Credit Suisse First Boston Inc. is teaming up with Tremont Advisers Inc. to publish a set of hedge-fund indexes expected to be launched in early October. The joint venture will also create a line of investable index products tied to the new indexes.

"The premise of the master index is to measure the investors' experience in hedge funds," said Hunt Taylor, senior vice president of Tremont Advisers. Overall performance of hedge funds in general can be hard to determine.


FTSE Grapples With Its Reclassification

The FTSE International indexes have gone through some dramatic changes recently with the introduction of a new global classification system, and it looks like more index alterations are lurking around the corner.

As of July 1, 1999, FTSE reclassified the FT/S&P-Actuaries World Indices according to its new global industry classification system. The system was introduced in stages to the FTSE European and UK index series earlier this year.


Renaming Wilshires

Wilshire Associates Inc., provider of the Wilshire 5000 index, has renamed some of its index series. The changes do not affect the construction or methodology of the indexes themselves.


Islamic Index Launched

Dow Jones & Co., the publisher of The Wall Street Journal, has launched a new global equity-benchmark index aimed at investors who follow Islamic investment guidelines.

The new index - called the Dow Jones Islamic Market Index, or DJIMI -tracks about 600 companies whose products and services are permissible according to strict interpretations of Shari'ah law. The companies in the index are from 30 countries around the world, including the U.S.


IFC Adds Three Country Indexes

The International Finance Corporation, a member of the World Bank Group, recently announced that it would be adding three new indexes to its series of emerging markets indexes by mid-1999.


S&P Plans Bond Indexes To Measure U.S. Market Spreads

In a move that could significantly help money managers assess the risks of their fixed-income investments, Standard & Poor’s said it will unveil indexes that measure the credit spreads in various sectors of the U.S. bond market this summer.


IFC drops Portugal Index

The IFC has decided to cease to maintain indexes on Portugal as of April 1, 1999. Portugal has been included in the company’s IFC Investable and Global Index series, as well as IFCI and IFCG regional and composite indexes.