In Feb 2009, Pragmatic Wealth Management (PWM) launched ITE Shariah Indices comprising of Shariah Compliant stocks screened as per the guideline of Shariah Board.
The ITE Shariah Indices are derived from the ITE Shariah Compliant Universe. The universe of listed companies on the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) are screened for Shariah Compliance and the ITE Shariah Compliant Universe is derived.
ITE Shariah 35
ITE Shariah 35 is a well-diversified 35 Large cap stock Index and comprises of 09 core Shariah Compliant Economy Sectors as defined by the Islami Tijara Equity Sector & Industry Classification (ITE-SIC). ITE Shariah 35 launched in 2009 has been backtracked from 01 Jan 2003 by the Index Research Group (IRG), at PWM.
ITE Shariah 35 is owned and managed by Pragmatic Wealth Management Pvt. Ltd. PWM is India's first specialized company focused on Shariah Compliant Wealth Management. ITE Shariah 35 is based on the free-float market capitalization-weighted methodology.
ITE Shariah Index Covers over 71% of total Float-adjusted Market cap of ITE Shariah Compliant Universe. The Index is thus a barometer and captures the happenings in the 09 core Shariah compliant economy sectors.
The performance of our index has always surpassed the performance of its benchmark, i.e., Sensex and Nifty. Have a look at the below table. For further information on our indexes, products and services, please visit http://www.pragmaticwealth.net/Default.aspx
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