NEW YORK (Apr 26, 2010) Dow Jones Indexes, a leading global index provider, and the South Asian Federation of Exchanges (SAFE) today launched the Dow Jones SAFE Pakistan Titans 15 Index. The blue-chip index measures the performance of the 15 largest and most liquid Pakistani stocks and further complements the Dow Jones SAFE index series.
The Dow Jones SAFE Pakistan Titans 15 Index is designed to underlie index-linked investment products such as funds, exchange-traded funds, structured products, futures and options. The index has been licensed to Arif Habib Investments Ltd., a premier Pakistani asset management company, to serve as the basis of an index tracker fund that is expected to be available in the second quarter.
Expanding the Dow Jones SAFE index series with a blue-chip index for Pakistan reflects the growing interest of the investment community in this maturing frontier market. The Dow Jones SAFE Pakistan Titans 15 Index provides market participants with an accurate, transparent and reliable performance measure of leading Pakistani companies, said Michael A. Petronella, president designate, Dow Jones Indexes
Dow Jones Indexes has once again taken a lead by introducing this new index of key Pakistani equities, which serves as the basis for the AH Dow Jones SAFE Pakistan Titans 15 Index Fund, said Nasim Beg, chief executive, Arif Habib Investments Ltd.
The Dow Jones SAFE Pakistan Titans 15 Index is calculated in U.S. dollars and Pakistan rupees and weighted by float-adjusted market capitalization. The Dow Jones SAFE Pakistan Titans 15 Index is reviewed annually in March. The top 5 components of the index are MCB Bank Ltd., Oil & Gas Development Corp., Pakistan Petroleum Ltd., Engro Corp. Ltd. and Fauji Fertilizer Co. Ltd. as of April 20, 2010.
Based on back-tested historical data, the Dow Jones SAFE Pakistan Titans 15 Index gained 10.98% year-to-date as of April 20, 2010. Back-tested historical data is available back to December 31, 2005.1
For more information on the Dow Jones SAFE Indexes, please visit http://www.djindexes.com.
1The Dow Jones SAFE Pakistan Titans 15 Index was first published on February 3, 2010. All estimated daily historical closing prices prior to that date are based on back-testing (i.e., calculations of how the index might have performed in the past if it had existed). Back-tested performance information is purely hypothetical and is solely for informational purposes. Back-tested performance does not represent actual performance, and past performance is not indicative of future results.