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Dow Jones Indexes and South Asian Federation of Exchanges launch index family

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Global index provider Dow Jones Indexes and the South Asian Federation of Exchanges have launched the Dow Jones Safe 100 Index and the Dow Jones Safe Pakistan Index.

Global index provider Dow Jones Indexes and the South Asian Federation of Exchanges have launched the Dow Jones Safe 100 Index and the Dow Jones Safe Pakistan Index.

This is the first time indexes are created to measure the performance of blue-chip companies in five of the eight member states of Safe. The five member states included in the Dow Jones Safe 100 Index are India, Bangladesh, Mauritius, Pakistan and Sri Lanka.

The Dow Jones Safe Indexes are designed to underlie index-linked investment products such as funds, exchange traded funds, structured products, futures and options.

The Dow Jones Safe Pakistan Index has been licensed to Arif Habib Investment Management, the Pakistani asset management company, to serve as the basis of an index tracker fund.

Michael A. Petronella, president of Dow Jones Indexes (pictured), says: “South Asia is home to some of the most rapidly evolving financial markets worldwide. By further developing securities markets and aiming at their regional and international integration the South Asian Federation of Exchanges has been contributing significantly to these developments. The Dow Jones Safe Indexes now provide market participants with accurate, transparent and reliable performance measures of leading companies in this region. These indexes are yet another example of Dow Jones Indexes’ commitment to index excellence, particularly in so-called frontier markets.’
      
Aftab Ahmad Ch., managing director and chief executive, Islamabad Stock Exchange & secretary general Safe, adds: “We are very delighted to launch the Dow Jones Safe 100 index jointly with Dow Jones Indexes, well-known for reliable and world-class indexes. As a representative body of South Asian Exchanges, our effort had been to present the entire region as one investment destination and the launch of the Dow Jones Safe 100 Index is an effort in the same direction. The index showcases the region as one asset class and can thanks to its superior methodology be used as an underlying tool for investment products on national and international level alike.’

The Dow Jones Safe 100 Index measures the performance of the 50 largest Indian stocks and the 50 largest stocks trading in Bangladesh, Mauritius, Pakistan and Sri Lanka. The index includes three Bangladeshi, five Mauritian, 39 Pakistani and three Sri Lankan stocks and was down -35.5 per cent from its base date on 31 December as of 9 March 2009.
      
The Dow Jones Safe Pakistan Index measures the performance of the Pakistani stocks in the Dow Jones Safe 100 Index. As of 9 March 2009, the index contains 39 components. The Dow Jones Safe Pakistan Index was, on 9 March 2009, down -46.36 per cent from its base of 1,000 on 31 December 2005 as of 9 March 2009.

The Dow Jones Safe 100 Index is calculated in US dollars. The index is weighted by float-adjusted market capitalization. The weighting of each country in the index is capped at 50 per cent, each component is capped at 10 per cent subsequently.

The Dow Jones Safe Pakistan Index is calculated in Pakistan rupees. Its component weights reflect the relative float-adjusted market capitalization weights of Pakistani stocks in the Dow Jones Safe 100 Index.

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