Holy offshore: Vatican bank launches stock indexes
The Institute for the Works of Religion (IOR), also known as the Vatican Bank, has rolled out two equity benchmarks for the United States and the euro area, describing them as fully in line with Catholic moral standards, reports a Qazinform News Agency correspondent.
In a statement, the bank said the new “Morningstar IOR Eurozone Catholic Principles” and “Morningstar IOR US Catholic Principles” were created jointly with Morningstar, a major supplier of investment research and index products.
“Both benchmarks, developed in collaboration with Morningstar, a leading provider of independent investment insights and index solutions, are built following market best practices and in accordance with Catholic ethical criteria, and are designed to serve as a reference for Catholic investments worldwide,” it said.
The institute added that the step “forms part of IOR’s broader commitment to ensuring that its investment process is fully consistent with Catholic ethical principles.”
Each index includes fifty medium and large cap companies and is fully compliant with the IOR investment policy, with room to reflect future updates to its ethical approach, the statement noted.
The launch reflects a continuing push by Vatican financial institutions to combine participation in global markets with faith-based standards, offering asset managers and church related investors clearer guidance when allocating capital.
Earlier, Qazinform News Agency reported that the Vatican was preparing for the final ceremonies of the Jubilee of Hope, as tens of thousands of pilgrims gathered in Rome for the solemn closing of the Holy Door at St. Peter’s Basilica.