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The Markets March 26, 2008
FTSE Launches New Terror-Free Index Series
The FTSE Group and Conflict Securities Advisory Group (CSAG), a research provider in terror-free investment screening and certification services, have launched the FTSE CSAG Terror-Free Index Series.
Reported by Fred Schneyer
According to a news release, the new offering is based on the FTSE Global Equity Index Series and will begin disseminating on March 31. The announcement said the new offering was developed in response to exclusion requirements being adopted by U.S. state governments, public and private organizations and investor demand.
Nineteen US states, including New York, New Jersey, Massachusetts, California, Texas, Pennsylvania, Maryland, Missouri and Louisiana have proposed or enacted legislation requiring state plan sponsors to divest from international companies with active business ties to terror-sponsoring countries.
The news release said by applying CSAG’s screening process to FTSE’s All-World ex-US, FTSE All-World Developed ex-US, and FTSE All-World Emerging ex-US indexes, the FTSE CSAG Terror-Free indexes screen out companies with active or current non-humanitarian business ties in or with countries that expose them to global security risk, including Iran, Sudan, Syria and/or North Korea.
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