Morgan Stanley launches Dow Jones Arabian Titans Tracker Basket

The DJARB50 Tracker Basket, published on Bloomberg under the ticker MSMEDJ50, is a pan-regional product that will offer investors a way to gain exposure to the Dow Jones Arabian Titans 50 Index.

Speaking of the product, Matthew Tagliani, CFA - Executive Director, Consolidated Equities said: "Since launching the Middle East Access Indices in October, many clients have expressed an interest in a pan-regional product and specifically, ways to gain exposure to the Dow Jones Arabian Titans 50 Index. Unlike our previous indices that were pure market-access plays, the DJARB50 Tracker Basket offers index tracking and a pan-regional benchmark. The creation of the basket reaffirms our dedication to providing high quality products and services tailored to meet the needs of our clients."

The basket contains 23 names covering 72% of the market capitalization of the DJARB50 - including all stocks with weight greater than 1% in the markets where Morgan Stanley trades: Egypt, Kuwait, Morocco, Qatar, Abu Dhabi and Dubai. The index is calculated in USD.

The Tracker Basket can offer long exposure to the index on swap and can also issue certificates to clients unable to trade on swap. In addition, due to the large number of stocks and markets, liquidity is good in the basket and orders of $10-20 million can be easily executed.

Dr Georges Makhoul, Morgan Stanley's President for the MENA region commented:

"The creation of the DJARB50 Tracker Basket is further evidence of our commitment to offer the widest range of products and services to our clients in the region. We strongly believe that the product will greatly benefit the Middle East Access Indices and promote the development of the industry across the region."