Index provider Standard & Poor’s has launched three new benchmark indices designed to help investors track the performance of the largest global universe of more than $20 trillion of shariah-compliant equities. The three new indices – S&P LargeCap World Shariah, S&P SmallCap World Shariah and S&P UK Shariah – cover 26 developed markets and join a line-up of investable sector, region and strategy shariah indices developed for investors seeking to abide by Islamic law. Alka Banerjee, vice president of index services, said: “Islamic investors are increasingly looking for exposure beyond their local markets in the Middle East and Asia and Standard & Poor’s shariah index series provides them with the ability to slice and dice an expanding array of countries and regions by size, style and sector.” The LargeCap and SmallCap World Shariah together measure the performance of more than 4,500 shariah-compliant equities with an adjusted market capitalisation of $18.05 trillion from 26 developed markets. The UK Shariah index includes 301 companies domiciled in the United Kingdom representing an adjusted market capitalization of $1.98 trillion.