Capital Markets 179
Challenges for Equity Funds
The following issues and challenges need to be addressed for the further
growth and development of Islamic equity funds:
■ (^) The compliance status of companies changes over time because of merg-
ers and acquisitions, changes in the composition of business activities,
FIGURE 9.2 Dow Jones Islamic Index trends in Global (DJIM), US and European
markets
Source: IFIS
1200
Jul^04 Jul^05 Jul^06 Jul^07 Jul^08 Jul^09 Jul^10 Jul
1400
1600
1800
2000
DJIM US
2200
2400
2600
1000
Jul^04 Jul^05 Jul^06 Jul^07 Jul^08 Jul^09 Jul^10 Jul
1500
2000
2500
3000
DJIM Europe
3500
4000
1000
Jul^04 Jul^05 Jul^06 Jul^07 Jul^08 Jul^09 Jul^10 Jul
1500
2500
2000
DJIM UK
3000