From the January 2007 issue of Investment Advisor • Subscribe!

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January 2007

Barclays Bank announced an agreement with Bayerische Hypo-und Vereinsbank AG (HVB) to acquire Indexchange Investment AG. That firm will be combined with iShares, Barclays Global Investors' ETF business, to provide ETFs in Europe.... Separately, Barclays Global Investors launched iShares KLD 400 Social Index Fund, its second ETF designed for socially responsible institutional and individual investors.

...Deutsche Bank launched five mutual funds that comply with traditional Islamic law, or Shari'a, in response to what it said was a growing demand for Islamic investment products. Marketed as DWS Noor Islamic Funds, Deutsche Bank says they are the first to be Shari'a compliant and exclude investments in alcohol, gambling, or companies with large amounts of debt.

...Pershing LLC now provides its introducing broker/dealer customers with access to Standard & Poor's MarketSelect through Pershing's online brokerage platform, NetExchange Pro. MarketSelect offers proprietary fundamental analysis on Standard & Poor's STARS-ranked companies, provides recommendations and portfolio strategies, and news, opinion, analysis, and stock picks.

...Clear Indexes LLC announced the Clear Spin-Off Index, which it says is the first benchmark to track companies that have been spun off by parent companies. Clear Indexes says its research indicated that spun-off companies tend to outperform the broader stock market indexes. The index, which includes 40 stocks, tracks the performance of companies that are listed on major U.S. exchanges and that have been spun-off or carved out. Claymore Securities Inc., of Lisle, Illinois, filed with the SEC in September with the intention to develop an exchange-traded fund (ETF) based on the Clear Spin-Off Index called the Claymore/Clear Spin-Off ETF.

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