Dow Jones Indexes has launched the Dow Jones Islamic Market BRIC Equal Weighted Index.

The index measures the performance of companies in the Brazil, Russia, India and offshore China markets that pass screens for compliance with Islamic principles.

The Dow Jones Islamic Market BRIC Equal Weighted Index is designed to serve as underlying for investment products such as mutual funds, exchange-traded funds (ETFs) and other investable products.

'The Dow Jones Islamic Market BRIC Equal Weighted Index offers market participants two unique advantages: access to the performance of the most sought after emerging markets and exposure to an investable and Shari'ah compliant index that follows the superior methodology of the Dow Jones Islamic Market Indexes,' said Michael A. Petronella, president of Dow Jones Indexes.

The four represented countries are equally weighted within the Dow Jones Islamic Market BRIC Equal Weighted Index. Simultaneously, the components of the index are weighted by free-float market capitalization, subject to a 10% cap on the weight of any individual security. The index will be reviewed quarterly in March, June, September and December. Historical index values are available daily back to Dec. 31, 2005. The base value of the index is set at 1,000 as of that date.

The Dow Jones Islamic Market BRIC Equal Weighted Index complements the Dow Jones BRIC 50 index, a blue-chip index that was launched on June 7 this year.

Background note: Dow Jones Indexes launched its Islamic Index family in 1999. Excluded from the Islamic Index series are stocks of companies that operate in alcohol, tobacco, pork-related products, financial services, defense/weapons, and entertainment. Also excluded are companies that fail any of three financial ratios: total debt divided by trailing 12-month average market capitalization is greater than or equal to 33% or more; cash plus interest-bearing securities divided by trailing 12-month average market capitalization is greater than or equal to 33%; and accounts receivables divided by total assets is greater than or equal to 33% or more