A comparison of the performance of the FTSE South Africa Islamic Index to the market in South Africa

The aim of this study is to identify whether there is a difference in performance between shares meeting the Islamic investing criteria and the market in an emerging market context. The proxy for the Islamic market is the FTSE South Africa Islamic Index. The returns on this index are compared to three proxies for the market using single and multiple regression models: (1) the All Share Index on the JSE in a single factor regression (2) the Resources Index and Financial/Industrial Index in a two factor model (3) a four factor model developed by Carhart (1997) that accounts for size, growth and momentum in the market in addition to the All Share Index.

Grantor dc:publisher.institution

School of Management Studies

Year dc:date.issued

2009

Author dc:creator

• Dhai, Riaz

Advisor dc:contributor.advisor

• Toerien, Francois

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/11427/11879

OAI identifier oai:identifier

oai:open.uct.ac.za:11427/11879