Brown Brothers Harriman has been selected to act as the custodian, administrator and transfer agent for the JETS Dow Jones Islamic Market International Index Fund. JVS is a Shariah compliant equity exchange traded fund (ETF), managed by Javelin Exchange Traded Trust (Javelin).
We are excited to partner with Dow Jones to launch the first U.S. Islamic ETF and believe the JETS Dow Jones Islamic Market International Index Fund is an excellent tool to obtain diversified investment exposure along Shariah beliefs, says Brint Frith, CEO of Javelin Exchange Traded Trust. A first class team of partners enabled a first to market launch. Brown Brothers Harriman was an ideal partner given its ETF expertise, international capabilities and particularly its leadership position in assisting asset managers enter this space.
BBH is excited to form a relationship with Javelin by providing global custody and ETF support for their first exchange-traded fund,” says Tim Connelly, partner of BBH.
During the first quarter 2009 global ETF net inflows approximated USD8 billion, compared to USD6 billion net outflows of mutual funds. This continues to be an opportune time for ETFs and BBH is pleased to play an increasingly important role in this market and support the first U.S. Islamic ETF, says Jeffrey McCarthy, manager of BBH ETF Global Product.
BBH currently works with eight ETF issuers and has an established expertise in managing new product launches for both registered and non-registered exchange traded funds and products.
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