Products August 5, 2008

Dow Jones Expands with Indian Blue-Chip Index

Dow Jones Indexes is expanding its Dow Jones Global Titans family by adding a blue-chip index for India.
Reported by

The Dow Jones India Titans 30 Index measures the performance of the 30 largest and most liquid stocks listed on the Bombay Stock Exchange and the National Stock Exchange of India. The final composition of the index is based on ranking by free-float market capitalization and 12-month average daily trading volume.

The launch of the Dow Jones India Titans 30 was announced by Rupert Murdoch, chairman and chief executive of News Corporation in Mumbai, India. Dow Jones Indexes is a business unit of Dow Jones & Company, a News Corporation company.

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The top five companies in the index by free float market capitalization are:

  • Reliance Industries Ltd. (Basic Materials),
  • Infosys Technologies Ltd. (Technology),
  • HDFC Ltd. (Financials),
  • Bharti Airtel Ltd. (Telecommunications), and
  • Larsen & Toubro Ltd. (Industrials).

    The Dow Jones India Titans 30 Index is free-float market capitalization weighted with individual components capped at 10%. According to a press release, the index is calculated in U.S. dollar and Indian rupee and reviewed annually in March. As of July 31, 2008, the Dow Jones India Titans 30 (U.S. $) has gained 62.03% back tested from its base date, December 31, 2005.

    The full list of companies, including weighting and values of the Dow Jones India Titans 30 Index, is available on www.djindexes.com.

The three biggest sectors represented in the index are Financials, Basic Materials, and Oil & Gas.

Products August 5, 2008

Benefits Firm Offers Fiduciary Checkup Product

A St. Louis-based firm has unveiled Fiduciary Health Check to help employers meet their legal responsibilities for their retirement plans.
Reported by

A Benefit Plans Plus news release said Fiduciary Health Check offers:

  • Help in identifying fiduciaries (named & functional),
  • Plan document review (terms of plan, eligibility, distribution options & model amendments),
  • Required employee communications (disclosures, safe harbor, reporting, QDIA notices, salary reduction notices & multiple statements),
  • Vendor specific review of products, features and tools,
  • Compliance testing (ADP, ACP, etc.),
  • Form 5500 (timely contributions & proper filing),
  • Insurance coverage review (fidelity bond, fiduciary insurance policy).

Additional consulting services include:

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  • Fee analysis (total plan cost including billed fees, investment expenses, asset charges, recordkeeping),
  • Fiduciary investment process review (investment policy, monitoring, diversification & performance),
  • Plan design (contribution efficiency & after-tax cost), and
  • Fiduciary compliance management (corrections assistance, vendor and adviser searches).

More information is available here.

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