Christian Finance Index (example)

STOXX Limited, a global index provider and creator of the leading European equity indices, announced in ZURICH on April 26, 2010 the launch of the STOXX Europe Christian Index. The new index measures the performance of companies selected from the STOXX Europe 600 Index according to the values and principles of the Christian religion.
The STOXX Europe Christian Index is designed to act as a proper benchmark for actively managed funds, and to underlie exchange-traded funds and other investable products that enable investors to participate in the performance of European companies which are compliant with Christian moral and social doctrines.
“With the launch of the STOXX Europe Christian Index, STOXX acknowledges the growing number of Christian market participants who wish to invest in accordance with their religious beliefs,” said Hartmut Graf, chief executive officer, STOXX Ltd. “The new index provides a broad representation of European companies who act responsibly on an ethical, environmental, social and economical level; and are therefore in-line with Christian values.”
To ensure the quality of the index and the integrity of the underlying index methodology, an independent committee has been established to define, build and implement the screening criteria. It is made up from experts of the Christian community, as well as members of the academic and investment community. The index universe for the STOXX Europe Christian Index is defined as all stocks in the STOXX Europe 600 Index. To be included in the index, stocks must pass a set of screens for compliance with Christian values and principles, which are conducted by the Independent Committee led by CBIS.
Excluded from the index are companies which do not meet predetermined tolerance levels for certain areas of activity, such as for example pornography, strategic and non-strategic weapons, birth control and gambling.
The STOXX Europe Christian Index is weighted by free-float adjusted market capitalization, and each component’s weight is capped at 20% of the index’s total freefloat market capitalization. It is reviewed semi-annually in June and December. Daily history is available back to December 31, 2004. The STOXX Europe Christian Index is available in price and net return versions, and is calculated in Euro and U.S. Dollar (USD).
INDEX REVIEW
Component selection
Target coverage: all companies in the STOXX Europe 600 Index that indicate high levels of competence in addressing Christian values (social, environmental, ethical and economic responsibilities) as a business approach. For inclusion to the index, strict limits are applied to the company’s share of revenues generated in the following areas: pornography, weapons, tobacco, alcohol, birth control and gambling. The screening of companies is performed by an independent committee.
Review frequency: The STOXX Europe Christian index is reviewed on a semi-annual basis. Weighting cap factors: The components are capped at 20% on the quarterly review.
ONGOING MAINTENANCE
The components of the STOXX Europe Christian index are monitored for eligibility. If a company is no longer eligible it is removed from the index at the next quarterly review.
Replacements: Stocks deleted from the STOXX Europe 600 are deleted from the STOXX Europe Christian index without replacements.
(Link : http://www.stoxx.com/indices/index_information.html?symbol=SXCHP

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