Russell introduces Russell-IdealRatings Islamic Index Series

These new indexes benefit Shariah multi-asset investors by combining the deep experience and leading methodology of the Russell Global Indexes with the Shariah oversight of IdealRatings.

Furthermore, they represent another way that Russell is demonstrating its more than 35 year commitment to helping investors in the Middle East with its unique mix of multi-asset investment consulting, investment management and fiduciary services and tools.

"We are excited to partner with IdealRatings to provide investors with a broad, fully modular global equity index that comprehensively reflects the Shariah-compliant opportunity set," said Layla Hirschfelt, senior product manager with Russell Indexes. "By combining the deep index expertise and world class methodology of Russell Global Indexes with the highly respected oversight of IdealRatings, we believe we now offer a more compelling Shariah-compliant opportunity set to global multi-asset investors."

IdealRatings applies its extensive experience in Shariah-compliant investing to the Russell-IdealRatings Islamic Index to ensure the exclusion of non-compliant businesses according to Shariah law. IdealRatings' oversight includes specific sector- and financial-based filters. It also includes monitoring and approval by a respected board of Islamic scholars.

"IdealRatings is a highly trusted provider of accurate and timely Islamic Finance information and our services are used by some of the leading financial institutions worldwide," said Mohamed Donia, CEO of IdealRatings, Inc. "We are now pleased to join forces with Russell Indexes to bring an enhanced offering to Shariah investors."

The new Islamic Index Series is based on the Russell family of global indexes, recognized for its single market capitalization break across countries and objective, transparent and modular index design.

The Series is fully modular and covers approximately 3,100 securities in 48 countries. The broadest market segments offered for the indexes include Global, Developed, MENA, ex-U.S., Developed ex-U.S., Emerging Markets, Europe, Asia-Pacific ex-Japan, Asia Pacific and Gulf Cooperation Council (GCC).