{"id":21623,"date":"2011-03-31T07:29:29","date_gmt":"2011-03-31T11:29:29","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=21623"},"modified":"2011-03-31T07:34:52","modified_gmt":"2011-03-31T11:34:52","slug":"shari%e2%80%99ah-compliant-hedge-funds-drop-1-22","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2011\/shari%e2%80%99ah-compliant-hedge-funds-drop-1-22.html","title":{"rendered":"Shari\u2019ah Compliant Hedge Fund Index Drops 1.22%"},"content":{"rendered":"

New York (HedgeCo.net) – Based on the close of trading on March 29 the global Dow Jones Islamic Market Titans 100 Index, which measures the performance of 100 of the leading Shari\u2019ah compliant stocks globally, dropped 1.22% month-to-date, closing at 2313.44.<\/p>\n

\u201cContinuing rising oil prices, which currently trade at a 29-month high at $104 per barrel (light crude), could harm production, trade activity and consumption as in mid-2008,\u201d said Dr. Farouk Soussa, Citigroup\u2019s Dubai-based Chief Economist for the Middle East.<\/p>\n

“The civil war in Libya, which triggered a military air campaign from NATO-forces against the nation\u2019s leader, Colonel Moammar Gaddafi, has lifted energy prices and global uncertainty.” G\u00e9rard Al-Fil, a Middle East correspondent reported. ”\u00a0Moreover, the earthquake and nuclear disaster in Japan weighed on investors\u2019 sentiment, resulting in the DJIM Japan Index posting the DJIM\u2019s largest decline in March (7.11%); in comparison, the global bellwether index, the Dow Jones Industrial Average, increased by 0.43% during the same period.”<\/p>\n

Some\u00a0preliminary\u00a0hedge fund highlights include:<\/strong>\"\"<\/a><\/p>\n

– The Dow Jones Islamic Market Asia\/Pacific Titans 25 Index, which measures the performance of 25 of the leading Shari\u2019ah compliant stocks in the Asia\/Pacific region, decreased 1.32%, closing at 2127.99. The Dow Jones Asian Titans 50 Index, in comparison, posted a loss of 6.13%, closing at 139.75.<\/p>\n

– Measuring Europe, the Dow Jones Islamic Market Europe Titans 25 Index, which measures the performance of the 25 of the leading Shari\u2019ah compliant stocks in Europe, closed at 2237.48, a loss of\u00a02.28%, while the conventional Dow Jones Europe Index loss 1.54%, closing at 284.40.<\/p>\n

– Measuring the performance of 50 of the largest Shari\u2019ah compliant U.S. stocks, the Dow Jones Islamic Market U.S. Titans 50 Index decreased, closing at 2364.05. It represents a loss of 0.77%. The U.S. blue- chip Dow Jones Industrial Average increased 0.43%, closing at 12279.01.<\/p>\n

On a positive note, the Egyptian Exchange also reopened after a seven week shutdown, allowing hedge funds invested in the area to start trading again.<\/p>\n

In the sector indexes, the DJIM Utilities Index rose 2.16% (the month\u2019s top gainer), and the Dow Jones Citigroup Sukuk Index, the DJIM composite for Islamic bonds, gained 0.72%.<\/p>\n

Alex Akesson
\nEditor for HedgeCo.net<\/a>
\nalex@hedgeco.net<\/a>
\nHedgeCo.Net<\/a> is a premier hedge fund database<\/a> and community for qualified and accredited investors only. Membership in HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.net) – Based on the close of trading on March 29 the global Dow Jones Islamic Market Titans 100 Index, which measures the performance of 100 of the leading Shari\u2019ah compliant stocks globally, dropped 1.22% month-to-date, closing at […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[919,3],"tags":[],"class_list":["post-21623","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-research","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/21623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=21623"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/21623\/revisions"}],"predecessor-version":[{"id":21626,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/21623\/revisions\/21626"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=21623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=21623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=21623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}