Products November 25, 2008

MSCI Barra Adds to Islamic Indexes

MSCI Barra is expanding the MSCI Global Islamic Indexes family by extending the Emerging Markets coverage to include the Small Cap segment, and by adding coverage of 16 Frontier Markets countries.
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A news release said the change would increase the number of MSCI Islamic country indexes from 53 to 69. The resulting new indexes will include the MSCI Emerging Markets Islamic Investable Market Index and the MSCI Gulf Cooperation Council (GCC) Countries Islamic Investable Market Index.

“Demand for Islamic indexes continues to grow as Islamic investors look for ways to broaden their global exposure,” said Remy Briand, managing director and global head of Index Research at MSCI Barra, in the announcement. “The expansion of the MSCI Global Islamic Indexes to cover Emerging Markets Small Cap and Frontier Markets countries offers institutional investors deeper coverage of the Islamic investment opportunity set. As with all our indexes, our primary goals are to ensure that they continue to reflect the ever-changing global equity markets, and to provide our clients with relevant indexes which may be used for benchmarking and as the basis for index linked products.”

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The calculation of the new indexes will start Wednesday. The indexes will be added to the MSCI Equity Index products December 2.

Deals & People November 25, 2008

Progressive Benefit Solutions Named to Benefit Advisors Network

Benefit Advisors Network, a national network of independent benefit advisory and consulting companies, has named Raleigh, North Carolina’s Progressive Benefit Solutions (PBS) as its newest member.
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A press release said members of Benefit Advisors Network are selected specifically for their industry knowledge, ethics, and vision, and membership represents a validation that a firm has been recognized as the “best of the best” in its particular geographic market.

To be credentialed for membership in Benefit Advisors Network, PBS had to successfully pass a stringent screening process, according to the release. Admission to Benefit Advisors Network designates PBS as the leading benefit advisory company in Central and Eastern North Carolina.

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“Benefit Advisors Network provides selected benefits brokers and consultants with an ability to compete on a national scale, giving them the capabilities and leverage of a national organization that enhances their focus and flexibility as a local partner and neighbor,’ said Benefit Advisors Network Director Deane Elek, in the release.

PBS is owned by William Salmon and John McDonnell, who are joined in leading the firm by another key executive, Rick Kelly.

PBS serves businesses primarily in North Carolina’s Piedmont area and east into Wilmington, New Bern, and Morehead City.

The firm’s primary focus is providing group insurance benefits to a clients in all industries, including manufacturing, biotech/pharma, physician groups, and architecture/engineering. PBS also researches and provides qualified referrals for administrative services such as COBRA, FSA, and HRA.

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