A new set of indices measuring such characteristics as good governance and eco-friendliness is winning favor with investors and gurus alike. Nandini Lakshman in BusinessWeek.
Maharishi Mahesh Yogi, the Indian sage who taught transcendental meditation to the Beatles, died in the Netherlands on Feb. 5. Back in India, a new generation of gurus is promoting the latest thing to hit the Indian stock market: values investing. Not to be confused with Warren Buffett-style value investing, values-based investing draws on the principles of Indian religions such as Hinduism, Jainism, Sikhism, and Buddhism. Last month Dow Jones launched the faith-based Dow Jones Dharma indices, which measure the performance of 254 companies that have characteristics like good governance and environmental friendliness in common.
Letters are pouring in to support the new group of five indices. They are not your typical congratulatory notes, but blessings and endorsements from assorted Indian spiritual leaders and scholars.