Magni Islamic Stewardship Index (MAGISLM) now available on IslamicMarkets.com
FOR IMMEDIATE RELEASE
MINNEAPOLIS, MN, June 14, 2018 – Magni Global Asset Management and IslamicMarkets Limited today announced that the Magni Islamic Stewardship Index data will be available on IslamicMarkets.com. Magni launched the index at the end of February of this year.
IslamicMarkets.com is the world's first platform for the global Islamic economy, providing learning, financial intelligence and investments. IslamicMarkets.com was launched in April 2018 by the team behind IslamicBanker, a reference point for the Islamic banking industry.
Magni Islamic Stewardship Index combines Islamic guidance for businesses from the Maqasid with a best-practice model for corporate governance to screen Shariah-compliant large-cap US companies among those included in the S&P 500 Index. In addition to its influence on individuals, Islamic guidance for good corporate governance provides a valuable, practical and business-relevant moral compass. Kurt Lieberman, Magni CEO, commented, “Our partnership with IslamicMarkets.com is a great way to increase visibility for our ground-breaking index; we look forward to further collaboration in a variety of areas.”
On making the index available to its members, IslamicMarkets CEO Shakeeb Saqlain said “We are excited to be working with Magni. This is the first of several Islamic indexes that we intend to offer on IslamicMarkets.com, as we continue to expand the tools available to investors and institutions looking to access the global Islamic economy."
Magni Corporate Governance Indexes, which also includes Corporate Governance Index (MAGCGOV) and Catholic Values Index (MAGCATH), evaluate both the governance and the social aspects of ESG investing. A key factor in determining good governance is behaviour versus intent. “This is what differentiates us from other research organizations,” says Lieberman. “In the current ESG environment, most measurement focuses on information that companies are willing to disclose. This rewards companies for generating policies and procedures that relate to governance and social issues, but not their behaviour or actual impact.” Magni’s research results in a score for each company, and that score determines the company's weight in the index.
Notes to editors:
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Magni Global Asset Management LLC is the leader in country-level research on corporate governance. Magni developed the Sustainable Wealth Creation principles, based on widely accepted economic concepts, by assessing the accounting, legal, regulatory, adjudicative, and economic infrastructures of countries to determine if they provide an environment conducive to effective corporate governance. Its extensive database covering more than 17 years contains research on countries across 280 qualitative factors. Adding corporate governance indexes to the Magni product family is a logical extension of the firm’s capabilities.
For more information, please visit www.magniglobal.com or www.magniglobal.com/indexes. Follow us on Twitter @MagniGlobal.
Brad Hanson, Managing Director,
Laura Gideon, Managing Director
Magni Global Asset Management: