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.

Queering Philip Roth: homosocial discourse in 'An actor’s life for me', 'Letting go', 'Sabbath’s theater' and the 'American trilogy'

Much has been written on Roth’s representation of masculinity, but this critical discourse has tended to be situated within a heteronormative frame of reference, perhaps because of Roth’s popular reputation as an aggressively heterosexual, libidinous, masculinist, in some versions sexist or even misogynist author. In this essay I argue that Roth’s representation of male sexuality is more complex, ambiguous, and ambivalent than has been generally recognized. Tracing a strong thread of what I call homosocial discourse running through Roth’s oeuvre, I suggest that the series of intimate relationships with other men that many of Roth’s protagonists form are conspicuously couched in this discourse and that a recognition of this ought to reconfigure our sense of the sexual politics of Roth’s career, demonstrating in particular that masculinity in his work is too fluid and dynamic to be accommodated by the conventional binaries of heterosexual and homosexual, feminized Jew and hyper-masculine Gentile, the “ordinary sexual man” and the transgressively desiring male subject.

The Phantom Carriage (1921)

The reputation of The Phantom Carriage (Körkarlen) as one of the major films of Swedish silent cinema is in some respects securely established. Yet the film has attracted surprisingly little detailed discussion. It may be that its most striking stylistic features have deflected or discouraged closer scrutiny. Tom Gunning, for instance, in making the case for Sjöström’s Masterman, argues that ‘Körkarlen wears its technique on its sleeve, overtly displays its unquestionable mastery of superimposition and complex narrative structure. Mästerman tucks its mastery of editing and composition up its sleeve, so to speak’. This article makes an argument for a different evaluation of The Phantom Carriage, bringing a critical and interpretative understanding of the film’s style into conversation with the historical accounts of film form which predominate in the scholarship around silent cinema. It suggests that the film achieves ‘mastery of editing and composition’ with a flexibility and fluidity in the construction of dramatic space that is in itself remarkable for its period, but that Sjöström’s achievements extend well beyond his handling of film space. Specifically, it discusses a segment which is in several respects at the heart of the film: the first meeting between the two central characters, David Holm (Victor Sjöström) and Sister Edit (Astrid Holm); it spans the film’s exact mid-point; and at almost twelve and a half minutes it is the longest uninterrupted passage to take place in a single setting. The chapter argues that the dramatic and structural centrality of the hostel segment is paralleled by its remarkably rich articulation of the relationships between action, character and space. We show how Sjöström’s creation of a three-dimensional filmic space - with no hint of frontality - becomes the basis for a reciprocal relationship between spatial naturalism and performance style, and for a mise-en-scene that can take on discrete interpretive force. The argument also places the hostel sequences within the film as a whole in order to show how relationships articulated through the detailed decisions in this section take on their full resonance within patterns and motifs that develop across the film.

Exploring brand attachment, its determinants and outcomes

Brand attachment has been regarded as a powerful and salient construct in marketing, argued to predict favourable consumer behaviours. Nevertheless, research trying to understand what are the determinants and outcomes of it is still limited. Using semi-structured interviews and projective techniques, this work identifies that self-congruity, experience, responsiveness, quality, reputation and trust are found to be the determinants of strong brand attachment. The outcomes of brand attachment are intention to recommend, purchase, revisit, resilience to negative information and act of defending the brand. This research sheds light for marketers in understanding the conceptualisation of attachment from the consumers' perspectives, so adopting an important perspective largely under-researched. In addition, this study guides marketers in the important factors regarding how to build stronger attachment and benefit from its outcomes.

The king's champion: re-enacting Arthurian romance at the English coronation banquet

Recent scholarship has emphasised the extent to which historical events are reflected in medieval romance. This paper seeks to draw attention to an instance where that relationship appears to have been inverted and a romance motif was carefully recreated at a particularly important event in the historical world. From the fourteenth century onwards, a mounted knight ceremonially rode into the English coronation banquet and issued a challenge to all assembled. The visual detail of the ritual strikingly echoes that of the romance motif of the “intruder at the feast”. This motif crops up in numerous romances, and is particularly associated with Arthurian narratives where it usually serves as a catalyst for adventure, providing the court and the king with an opportunity to justify their authority and reputation. This paper analyses the precise nature of the historical ritual and explores how the romance resonances of the ceremony at the coronation feast could be used to underpin political authority and courtly identity. In doing so, it seeks to underscore the centrality of Arthurian romance to English monarchical self-imagining and the symbolic power which could be ascribed to the genre's themes and conventions.

Children’s literature: sexual identity, gender and childhood

On the twenty-third of May 2015, Ireland became the first country to legalise same-sex marriage by popular vote. This event reversed a large part, if not all, of Ireland’s reputation for a Catholic-led conservatism concerning sexual and gender identities. I argue in this article that we can see a parallel-in-miniature to this momentous shift in something of a reversal of children’s literature’s views in this respect too, and I will concentrate on exploring what is at stake in the ways that childhood, sexual and gender identities are constructed in some recent children’s literature criticism in the light of these shifts. My interest is to consider: what is the ever-burgeoning interest in the gay, queer, cross-dressing, transsexual or transgender child precisely about? I ask this question on the grounds of not assuming that this interest in these identities arises necessarily simply out of a self-evident, progressive, liberatory impulse, and, alongside this, I also do not assume that ‘identities’ are essential, self-organised traits awaiting revelation and liberation.

The Hugh Sinclair Unit of Human Nutrition – 20 years of research 1995–2015

The Hugh Sinclair Unit of Human Nutrition (HSUHN) at the University of Reading was founded in October 1995 with the appointment of Christine Williams OBE as the first Hugh Sinclair Chair in Human Nutrition. This was made possible by the competitively won funds from the estate and legacy of the late Professor Hugh Macdonald Sinclair (1910–1990). The vision for the newly established HSUHN was to ‘strengthen the evidence base for dietary recommendations for prevention of degenerative chronic diseases’. This has remained the research focus of the HSUHN under the leadership of Professors Christine Williams (1995–2005), Ian Rowland (2006–2013) and Julie Lovegrove (2014-present). Our mission is to improve population health and evaluate mechanisms of action for the effects of dietary components on health, which reflects Hugh Sinclair’s life ambition within nutritional science. Over the past 20 years, the HSUHN has developed an international reputation within the nutrition science community, and in recognition of the 20th anniversary, this paper highlights Hugh Sinclair’s contributions to the field of nutrition and key research achievements by members of the Unit.

Improving ultimate convergence of an augmented Lagrangian method

Optimization methods that employ the classical Powell-Hestenes-Rockafellar augmented Lagrangian are useful tools for solving nonlinear programming problems. Their reputation decreased in the last 10 years due to the comparative success of interior-point Newtonian algorithms, which are asymptotically faster. In this research, a combination of both approaches is evaluated. The idea is to produce a competitive method, being more robust and efficient than its `pure` counterparts for critical problems. Moreover, an additional hybrid algorithm is defined, in which the interior-point method is replaced by the Newtonian resolution of a Karush-Kuhn-Tucker (KKT) system identified by the augmented Lagrangian algorithm. The software used in this work is freely available through the Tango Project web page:http://www.ime.usp.br/similar to egbirgin/tango/.

Grafisk profilering med praktisk tillämpning på IUC Dalarna

This degree project is a study of graphics profiling with a practical application on IUC Dalarna.The competition between companies is getting harder and harder. Competing goods and services hasa tendency to be more and more equal to each other in respect of quality and value. The customer choosesthe Company with a high reputation and confidence. This is one of the reasons why a companyshould strengthen their company profile. The graphic profile is an important part of the company profileand it gives positive signals to the company spirit and customers.The degree project contains a guide to graphics profiling. The different phases are research, analysis,construction of graphic material and presentation. The guide is put into practise at IUC Dalarna andthe result is documented in a graphic manual.

A proposed Model for Country Branding : an experimental Application on Nigeria

In the era of globalization, countries compete with each other for attention, respect and trust of potential consumers, investors, tourists, media and governments of other nations. Branding is the most powerful tool that a nation can utilize for effective differentiation strategies and for creating competitive advantage over other nations. Unfortunately, not every nations or destination marketers have a broad understanding of the concept of branding and how a country can be successfully branded. Hence, this study has proposed a model that could be used as a valuable guide for country branding. Also the model is recommended for countries struggling with image crisis; on the mission to improve the image internationally. Nigeria is a good example of countries with image crisis; it is one of the most populated countries in the world with a population of about 160 million inhabitants and growth rate of 2.553percent annually. Despite the abundant resources (e.g. coal, petroleum, natural gas etc.) that the nation is endowed with, it is quite disappointing that the population below poverty line is still at the alarming rate of 70percent of the total population. The mismanagement and poor leadership of the nation characterised by corruption, fraud, embezzlement of public fund etc. has culminated into serious image crisis that is slowing down the potential for investment and economic growth. However, there has been series of image rebranding campaigns but no tangible achievement has been recorded. It is quite questionable though, if image rebranding will provide the kind of future that Nigeria envisaged, considering the socio-political situation and the economic imbalance; compounded by the obvious fact that the nation has no known brand. Therefore, this paper argues that there is need to redirect the effort invested on image rebranding to the creation of a unique and competitive brand for the country. It was established from the study that a nation’s brand is capable of improving the reputation of the nation as well as stimulate the expectation of the target audience. However, it was also established from the study that a wrong approach to branding could mislead the target audience and attract negative publicity. Hence, as a contribution of the study to the field of branding, a model was proposed as a functional guide for country branding. Also, considering the abysmal performance of Nigeria’s image in the international community and to strengthen the argument that brand creation is required for the country; an experimental application of the proposed model was conducted using Nigeria as the case country. The first phase of the model suggested a major improvement in the society; this is required to further enhance the strengths of the country and to motivate the much needed community participation and confidence in the brand creation. It is the conclusion of the study that a strong nation brand can offset the image problem if it is built on something concrete, genuine, and uniquely identifiable with the country, capable of connecting to the cognitive psychology of the target audience.

Factors influencing the choice of a bank : An international student perspective

Purpose: The purposeof this thesis is to identify what factors influence international students in their choice of a bank.Literature review: A review of previous research about bank selection criteria related to students as well as a few examples of bank choice studies in the general population is presented. The review consists of studies from different years to illustrate criteria that reoccur in order to decrease the chances of overlooking important criteria that may be of importance for today‘s customers. Method: The thesis is based upon empirical data gathering through a non-probability sampling technique by distributing questionnaires through the Internet and in person. The data was analyzedwith the help of exploratory factor analysis (EFA). Conclusion: We found thatfive factors influence the choice of bank for international students. These factors are: cost of the bank services, use of technology, convenience, banks‘ reputation and marketing communication effectiveness. These factors could be helpful for banks who want to gain customers from international students, which are a relatively unexploited customer segment.

Den ofrånkomliga nationalismen

The necessary nationalism This article deals with the role of fictional narratives, especially the modern novel, in the formation of national identities. Naguib Mafouz’s Cairo trilogy is referred to as an example of how literature may both serve as the mirror image of national identities and as an agency in their formation. The sense of community attachment to a modern state is ”thinner” than to a family or traditional village and/or tribe, though no less vital. Drawing on Norbert Elias’s concept of ”survival unit,” Benedict Anderson’s ”imagined communities” and recent studies in the field of comparative literature by Gregory Jusdanis and Azade Seyhan, this article argues for the necessity of the nation – in spite of its unfavourable chauvinistic reputation. This contention is discussed in relation to recent literary developments in Turkey and recent debates on nationhood in a Swedish context.

PANA V : Evaluation of a Literacy Project

PANA V Evaluation of a Literacy ProjectSUMMARY AND CONCLUSIONSThis evaluation set out to explore the impact of the literacy work carried out through PANA V. It focussed on clarifying effects such as empowerment and poverty reduction in relation to the civil society. Two specific objectives were to evaluate the methodological approach and the didactic materials and to evaluate the sustainability of the project.Although the focus of the evaluation has been PANA V, the project has been evaluated in its context, as one in a series of five projects located in Rwanda ten years after the war and genocide. The conclusion will consider future plans in this field.The evaluator has striven to create a holistic picture of the effects of the project, although the given time for the evaluation was short. Only three weeks were spent in the field study and only ten days in the actual field. Although there were some organisational and logistic problems, as is common when carrying out a study like this in a poor country, many literacy sites were visited and quite many participators were interviewed. The overall impression from the study is overwhelmingly positive. So many people commit themselves in this task of teaching Rwandans reading, writing and numeracy. Despite harsh conditions learners strive to learn and group leaders devote themselves to the task. Many leaders on different levels try their very best to manage their difficult and demanding task. The main objective was to explore the impact of the project on poverty reduction, particularly on empowerment and strategies for everyday life. Women were to be regarded particularly. From the results it is clear that the project has a strong, positive impact both on poverty reduction and empowerment of marginalised groups. Among those who have benefited from the alphabetisation are mainly women. Unfortunately, when it comes to leaders in PANA, who may also be said to have benefited from the project, only a small minority is women. This is something that is recommended that it be reconsidered inside the organisation. As a majority of the targeted learners are women, and as the economic and social situation of women in Rwanda is generally weak, this is a question that I recommend the Pentesostal church and ADEPR to look particularly into. With many women being single breadwinners of their households, it is important that also women get access to positions that may bring benefits of different kind.It is also clear that the project has positive effects for the civil society. In the present situation in Rwanda, during the process of reconciliation and rapid progress, basic education for the poor majority is a democratic issue. In a country with a plethora of internet-cafés in the capital and a small minority that use cars and mobile-telephones to communicate nation-wide, it is of outmost importance that the majority acquires basic education, of which literacy is a central part. To strengthen the civil society in Rwanda literacy is important. One central issue is then that Rwanda develops toward becoming a country where literacy is used for the benefit of the citizens and it is a democratic issue that all citizens get an opportunity to participate. Crucial for this is that strong efforts are put into primary schools nation-wide. Literacy projects for adults, like PANA, may only complement these efforts, but they constitute important and necessary complements. Other relevant ways to promote literacy are campaigns in Radio and TV and through cultural events such as festivals, music and theatre. News papers, magazines and books are natural parts of such campaigns as well as adult education. As stated under the results not much can be said about the didactics in this evaluation. On the whole the methodology and the materials fill their function well and receive a high reputation. As people learn to read and write under very simple conditions, obviously the approach is appropriate. A few suggestions may be given from the study:•Focus groups leaders’ attention on clearness, that they show very clearly what is to be read. Good structuring is probably of great importance for many learners.•Make clear what is tested in the tests and consider the possibility to use a holistic test that would be more congruent with the methodology. The possibility to use only one grade, pass, would enable a more practical test, such as reading a short, relevant text, writing something relevant and solving practical mathematic problems. Avoid tests that demand school knowledge.•Avoid using methaphors such as “fight against illiteracy” and connections between illiteracy/literacy and darkness/light. It is not true that illiteracy causes bad things and that literacy only brings good. •Be prepared that it may be more difficult in the future to achieve the goals as it may be the case that the early learners where the ones who achieved easily. The goal of “literacy in six month” in PANA will probably hold only for some learners but also those who do not manage in six months need literacy skills.A third objective was to secure sustainability. As for sustainability of the project in itself, and of the literacy process, the main conclusion is that there is a good potential. The commitment and devotedness among many involved in PANA proves good. One weakness is individual leaders in ADEPR who do not see this as an important task for the Pentecostal church in Rwanda. Other weaknesses are the unwillingness to mention explicitly the wish, for example among group leaders, to get some kind of incentive and the fear of loosing believers by cooperation with other organisations. A higher degree of transparency in this issue would probably solve some irritations and tensions.As for the sustainability of the literacy skills much may be done to improve. The acquired skills seem to be comparably relevant. The level achieved, and the level tested, may be defined as basic literacy skills, consisting of basic reading, writing and numeracy skills. However, these skills are very restricted and there is a high risk that the skills will decline, which means that there is a high risk that people will forget how to read and write because of lack of exercising. From these conclusions a few suggestions for future development will be given.

Vilhelm Ekelund och det litterära fältet 1897-1949

Vilhelm Ekelunds och det litterära fältet 1897-1949 [Vilhelm Ekelund and the literary field 1897-1949] The theoretical background of this study is Pierre Bourdieu’s sociological approach to literature. I use his theory concerning the importance of cultural (and other forms of symbolic) capital for the individual artist – and his description of the literary field as a place characterized by continuous conflict between different categories of participants. In the article, I argue that as a young poet, Ekelund held a position in the field that was with the intellectual group as opposed to the group of commercial authors – and among the young avant-garde as opposed to among the consecrated and well-established writers. However, this position changed somewhat during the years Ekelund spent in exile (1908-1921), and it continued to change after his return to Sweden. His reputation as a thoroughly intellectual writer was accentuated and, as time passed, he himself became a consecrated artist with certain privileges – e.g. grants and awards – to defend.

Den grafiska identitetens betydelse i småföretagarens värld : En undersökning för ökad förståelse om den grafiska identitetens betydelse för småföretagare

För att skapa ett bra varumärke krävs en tydlig grafisk identitet. Syftet med föreliggande rapport var att undersöka med semi-strukturerade djupintervjuer hur småföretagare (1-10 personer) ser på och arbetar med sin grafiska identitet. Studien avsåg även med en enkätundersökning förstå konsumenters attityder mot företag som har eller saknar en tydlig grafisk identitet. Resultatet av intervjuerna visade att företagarna anser att deras grafiska identitet inte är den viktigaste resursen. Det viktigaste är företagets rykte och kunders omdömen. Företagarna nöjer sig med en signatur och en hemsida, utvecklandet av den grafiska identiteten har inte hög prioritet. Av enkätundersökningen framgick det att företag som har en konsekvent grafisk identitet har större sannolikhet att bli anlitade än de som inte arbetar konsekvent med detta. Resultatet visar även att de som arbetar konsekvent med sin grafiska identitet uppfattas som mer seriösa än de som inte är konsekventa i detsamma.