The S&P/TOPIX 150 Shariah index is part of the family of S&P Global Investable Shariah index series. The S&P Global Investable Shariah index series is designed to offer investors a set of indices that are compliant with Islamic canonical law. The S&P/TOPIX 150 Shariah index is based on the parent index S&P/TOPIX 150, providing investors a comparable investable portfolio while adopting explicit investment criteria defined by the law. The parent indices undergo screenings of the stocks by an outside research group, Ratings Intelligence Partners (RI), to interpret Shariah board rulings.
Index constituents exhibit the following characteristics:
Underlying Indices –S&P/TOPIX 150
Weighting –Market capitalization
Reconstitution –As needed basis
Index Governance and Policy The parent indices are maintained by S&P Index Committees, whose members include Standard & Poor’s economists and index analysts. Working with the Shariah Supervisory Board and Ratings Intelligence Partners, the Shariah indices follow a set of published guidelines and policies that define the transparent methodologies used to maintain the indices.
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