A review of Islamic mutual funds’ financial performance and investment style in Muslim and non-Muslim countries

Islamic finance has grown beyond its reputation of providing small-scale banking options and now provides investment and financing options for complex large-scale commercial transactions. Islamic investments are one area that has attracted the attention of investors due to its performance, especially during the economic downturn. The Shari’ah compliance nature of Islamic funds provides an opportunity for those Muslim investors to be part of the global investment sector who have previously been reluctant to invest in conventional mutual funds. The fact that the funds’ managers are prohibited from investing in activities such as weapons production, alcohol production and interest-bearing finance operations, makes Islamic mutual funds also attractive for those Non-Muslim investors who wish to invest ethically. Today there are hundreds of Islamic equity indices offered by Dow Jones, FTSE, MSCI and S&P. Despite the growing importance of Islamic funds, there have been limited studies exploring the performance of Islamic funds worldwide. Due to very limited data sets and not too rigorous analytical methods, these existent studies have neither investigated Islamic funds’ financial performance in noticeable detail nor analysed the investment style of more than six funds. For instance, relevant questions such as the financial performance of Islamic mutual funds’ beyond their investment styles or a difference in performance between funds from Muslim and non-Muslim countries have nearly not been investigated at all. Very recently, a study by Hoepner, Rammal and Rezec (2011) analysed the financial performance and investment style of 262 Islamic equity funds from 20 countries in five regions (Africa, Asia-Pacific, Europe, Gulf Cooperative Council-GCC, and North America). As comparison, previous studies did not even analyse 60 funds. Hoepner et al.’s study sampled a period of two decades and was therefore able to test the performance of the funds during economic booms as well as economic downturns. The findings of the study provide new insights into the performance of Islamic mutual funds in Muslim and Western markets and during financial crisis.

Quinine, mosquitoes and empire: reassembling malaria in British India, 1890-1910

The drug quinine figured as an object of enforced consumption in British India between the late 1890s and the 1910s, when the corresponding diagnostic category malaria itself was redefined as a mosquito-borne fever disease. This article details an overlapping milieu in which quinine, mosquitoes and malaria emerged as intrinsic components of shared and symbiotic histories. It combines insights from new imperial histories, constructivism in the histories of medicine and literature about non-humans in science studies to examine the ways in which histories of insects, drugs, disease and empire interacted and shaped one another. Firstly, it locates the production of historical intimacies between quinine, malaria and mosquitoes within the exigencies and apparatuses of imperial rule. In so doing, it explores the intersections between the worlds of colonial governance, medical knowledge, vernacular markets and pharmaceutical business. Secondly, it outlines ways to narrate characteristics and enabling properties of non-humans (such as quinines and mosquitoes) while retaining a constructivist critique of scientism and empire. Thirdly, it shows how empire itself was reshaped and reinforced while occasioning the proliferation of categories and entities like malaria, quinine and mosquitoes.

Plague of diagrams

Group exhibition curated by Plastique Fantastique. Organised by David Burrows and Dean Kenning in collaboration with Ami Clarke, Andrew Conio, John Cussans and David Osbaldeston. Contributors: David Burrows, Rachel Cattle & Jenna Collins, Neil Chapman & Gillian Wylde, Ami Clarke, Richard Cochrane, Andrew Conio, John Cussans, David Burrows, Benedict Drew, English Heretic, Nikolaus Gansterer, Joey Holder, Dean Kenning, Christoph Lueder, Stine Llungdalh, Adelheid Mers, Mike Nelson, Paul O'Kane, David Osbaldeston, Plastique Fantastique, Patricia Reed, John Russell, Erica Scourti, Andy Sharp, Kamini Vellodi, Martin Westwood and Carey Young.

Islamic law and international law: the terms of a relationship

The relationship between Islamic Law and other legal systems (basically western type domestic legal orders and international law) is often thought of in terms of compatibility or incompatibility. Concerning certain subject matters of choice, the compatibility of Islamic (legal) principles with the values embedded in legal systems that are regarded as characteristic of the Modern Age is tested by sets of questions: is democracy possible in Islam? Does Islam recognize human rights and are those rights equivalent to a more universal conception? Does Islam recognize or condone more extreme acts of violence and does it justify violence differently? Etc. Such questions and many more presuppose the existence of an ensemble of rules or principles which, as any other set of rules and principles, purport to regulate social behavior. This ensemble is generically referred to as Islamic Law. However, one set of questions is usually left unanswered: is Islamic Law a legal system? If it is a legal system, what are its specific characteristics? How does it work? Where does it apply? It is this paper`s argument that the relationship between Islamic Law and domestic and international law can only be understood if looked upon as a relationship between distinct legal systems or legal orders.

Ovarian morphology and oogenesis dynamic of the diplopod Urostreptus atrobrunneus Pierozzi & Fontanetti, 2006 (Spirostreptidae), a potential plague in urban centers

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Ultrastructure of oocytes of the Urostreptus atrobrunneus (Diplopoda, Spirostreptida, Spirostreptidae): A potential urban centers plague

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

The American empire in the new century: Hegemony or domination?

This chapter analyzes the current position of United States supremacy, in light of the debate on hegemony and domination that acquires greater relevance after the formulation of the 'Bush Doctrine', which is systematized in the document 'The National Security Strategy of the United States of America'. Our approach will emphasize the following aspects: establishment of a parallel between the transition from the 19th to the 20th centuries, from studies that point out the characteristics of imperialism at different times; an analysis of the current foreign policies of the United States, focusing on the debate between unilateralism and multilateralism, emphasizing the reactions caused by the intervention in Iraq; a critical argument about the approaches that highlight in the security agenda of the Bush administration an indicator of a loss of hegemony, which would impose open domination over the search for consensus. Copyright © 2005 SAGE Publications.

Prairie Dog Empire: A Saga of the Shortgrass Prairie

For hundreds of years black-tailed prairie dogs inhabited the Great Plains by the millions, improving the grazing for bison and pronghorn antelope, digging escape holes and homes for burrowing owls and rodents, and serving as prey for badgers, coyotes, hawks, and bobcats. This book by the renowned naturalist and writer Paul A. Johnsgard tells the complex biological and environmental story of the western Great Plains under the prairie dog’s reign—and then under a brief but devastating century of human dominion. An indispensable and highly readable introduction to the ecosystem of the shortgrass prairie, Prairie Dog Empire describes in clear and detailed terms the habitat and habits of black-tailed prairie dogs; their subsistence, seasonal behavior, and the makeup of their vast colonies; and the ways in which their “towns” transform the surrounding terrain—for better or worse. Johnsgard recounts how this terrain was in turn transformed over the past century by the destruction of prairie dogs and their grassland habitats, together with the removal of the bison and their replacement with domestic livestock. A disturbing look at profound ecological alterations in the environment, this book also offers a rare and invaluable close-up view of the rich history and threatened future of the creature once considered the “keystone” species of the western plains. Included are maps, drawings, and listings of more than two hundred natural grassland preserves where many of the region’s native plants and animals may still be seen and studied. This excerpt includes the Preface and Chapter 1, "The Western Shortgrass Prairie: A Brief History."

THE CURRENT STATUS OF PLAGUE IN CALIFORNIA

At the first Vertebrate Pest Control Conference in 1964, I traced the history of plague control in California and outlined a revised approach, based on newer concepts of plague ecology. In our state of relative ignorance, this required a number of unproved assumptions about plague occurrence in California that verged on crystal ball gazing. These were principally that (1) plague persists in relatively resistant rodent species in certain favorable locations, (2) ground squirrels and chipmunks experience periodic epizootics, but are not permanent reservoirs, (3) plague "foci" of the past were merely sites of conspicuous epizootics, they did not necessarily correspond to permanent foci, and could result from epizootic migrations over considerable distances, and (4) a number of assumptions about areas of greatest epizootic potential can be made by analyzing the pattern of recurrent plague outbreaks in the past. Since then the validity of these assumptions has been tested by the largest outbreak of plague since the early 1940's. We believe that the results have proved the crystal ball largely correct, resulting in much more precise and efficient epizootic surveillance and deployment of control measures than in the past. The outbreak was for us an administrative emergency that exceeded the capacities of the State Health Department. We greatly appreciated the vital help and cooperation of other agencies and individuals. The U.S, Public Health Service accepted a heavy burden of laboratory testing through its San Francisco Field Station, and provided emergency field personnel. The contributions of State Department of Agriculture, Bureau of Weed and Vertebrate Pest Control; U.S. Parks, Forest Service and Bureau of Land Management; local health and agriculture department; and State Division of Parks personnel were essential in accomplishing control work, as well as epizootic surveillance.

Between the court and the revolution: the role of one ""merchant"" in America, capital of portuguese Empire

The article discusses the trajectory of Manuel Luis da Veiga which, as a merchant in Portugal (where he was born) invested to install a factory in Pernambuco after the arrival of Real Family in the Rio de Janeiro, considering the changes, in these days, in the Portuguese Empire. It focuses the political sociabilities, remarking the role of Veiga in the court and his writings on political economy, understanding both as two linked dimensions of his social practice. It points out that his trajectory shows a deeply changing world in terms of paradigms, impossible to be understood simply in patterns of what was old or new in the beginning of XIX century.