Daiwa launches first sharia-compliant exchange-traded fund in Singapore

Daiwa Asset Management (AM) has launched Singapore's debut sharia-compliant exchange-traded fund (ETF) on the Singapore Exchange (SGX). (See Structured Products magazine, August 2007). The Daiwa FTSE Sharia Japan 100 (DaiwaETF) tracks the performance of the FTSE Sharia Japan index, which comprises the top 100 sharia-compliant companies in Japan by market capitalisation. The DaiwaETF brings the number of ETFs listed on the SGX to 19.

Yasaar, a global sharia consultancy, will monitor the sharia

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