STOXX has launched three Shariah-compliant indices in Europe, Mondovisione reports. The new indices are the STOXX Europe Islamic Index and its two blue-chip sub-indices, the STOXX Europe Islamic 50 and EURO STOXX Islamic 50. The three new indices measure the performance of Shariah-compliant companies picked from the STOXX Europe 600 Index. They are designed to serve as a benchmark for actively managed funds and to underlie exchange-traded funds and other investable products that enable investors to participate in the performance of European companies.
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