Article Abstract

	Title:	Performance of Shariah-Compliant Indices in London and NY Stock Markets and their potential for diversification
	Author:	Seng Kok, Gianluigi Giorgioni, Jason Laws
	Address:	Liverpool Business School, Liverpool John Moores University, John Foster Building, 98 Mount Pleasant, Liverpool, L3 5UZ, UK. ' Liverpool Business School, Liverpool John Moores University, John Foster Building, 98 Mount Pleasant, Liverpool, L3 5UZ, UK. ' Liverpool Business School, Liverpool John Moores University, John Foster Building, 98 Mount Pleasant, Liverpool, L3 5UZ, UK
	Journal:	International Journal of Monetary Economics and Finance 2009 - Vol. 2, No.3/4  pp. 398 - 408
	Abstract:	This paper aims to contribute to the empirical literature on the performance of Sharia-Compliant Indices (SCIs) by evaluating the performance of a number of SCIs, in comparison to similar mainstream indices, as well as in comparison to other ethical funds. Furthermore, the paper will test for co-integration among the SCIs and the mainstream ones to establish whether there is any scope for diversification. The main findings are that SCIs offer an opportunity for portfolio diversification with mainstream indices and other ethical funds within the UK.
	Keywords:	portfolio diversification; SCI; Shariah compliance; Shariah-compliant indices; Islamic finance; performance evaluation; ethical funds; UK; United Kingdom.
	DOI:	10.1504/IJMEF.2009.029071
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