US based Dow Jones Index has come up with Dharmic Index with India based Dharma Investments. Many of the rules of this index will be same as that of Dow Jones Islamic Banking Index because most of the religions have similar teaching about the way life should be lead. This may encourage companies to follow some basic rule of corporate governance and social responsibility if they want to be included in this Index. There is nothing religious about this index but it is a substitute for the companies those will not like to linked with the Islamic Banking Index.
Dow Jones can set very high and consistent global standards so it will carry good value in the market. They have also formed advisory and supervisory committee with some of the highly regarded institutions in the Hindu, Buddhism, Jainism and Sikhism.
It is not very clear why Dow Jones has created this new Index at this time. There can be following two reasons
Dow Jones can set very high and consistent global standards so it will carry good value in the market. They have also formed advisory and supervisory committee with some of the highly regarded institutions in the Hindu, Buddhism, Jainism and Sikhism.
It is not very clear why Dow Jones has created this new Index at this time. There can be following two reasons
- To make money (in the form of licence and percentage of asset managed by funds)
- To make pressure on companies to become more environment friendly that will make products more expensive.
Since Asian stocks market is booming so this kind of funds will have great appeal in this region. It is not very clear what other benefits it will bring to the Dow Jones Index.
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