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.