Dow Jones Indexes and Dubai Financial Market to launch co-branded index

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To be commercially operational by the end of this year, the Dow Jones DFM Index is designed to serve as an underlying point of reference for investment products such as mutual funds, exchange-traded funds, and other financial products that will enable investors to participate in the performance of the Dubai stock market.

The co-branded conventional index measuring the performance of the Dubai Financial Market follows the transparent and objective methodology of the Dow Jones Global Titans 50 Index and follows recent Dow Jones Indexes' launched worldwide. The new index will include leading Dubai stocks ranked by free-float market capitalisation, sales, revenue and net income.

Commenting on the partnership, Essa Kazim, Director General, Dubai Financial Market, said: 'We are glad to sign this agreement with the world's premium index provider. As the stock exchange evolves alongside the financial transformation taking place in the country, it is imperative to introduce products that would appeal to global audiences.'

'Our stated mission is to create a fair, efficient, liquid and transparent marketplace in order to serve all stakeholders and to contribute to the economic growth of the UAE and the region.'

This latest development is expected to provide access to Dubai-quoted stocks for international investors, while also enhancing DFM-listed companies' exposure globally. Dow Jones DFM Index will eventually become part of Dow Jones broader Asian index and will provide international investors exposure to the DFM.

'Through our partnership with Dow Jones we intend to launch a series of indexes that would appeal to retail as well as institutional investors,' Kazim added.

The Dow Jones DFM Index will be launched later in 2006, and will be reviewed quarterly. The full list of components, including weighting and values will be unveiled prior to implementation.

'Our partnership with DFM is another manifestation of our overall commitment to the region and broadens our footprint across the Middle East financial markets. We are confident that this index will be useful and informative to investors worldwide, and will draw their attention to the dynamic potential of the Dubai Financial Market,' said Rushdi Siddiqui, Global Director, Dow Jones Islamic Indexes.