MSCI, a provider of investment decision support tools, has launched a new Emerging Markets index – the MSCI EM Beyond BRIC Index.
The index, a subset of the well known and widely used MSCI Emerging Markets Index, is comprised of 17 countries and excludes the BRIC countries – Brazil, Russia, India and China – which currently represent over 40% of the MSCI Emerging Markets Index.
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Deborah Yang, managing director and head of the MSCI Index business in Europe, the Middle East, Africa and India, said: "The BRIC countries have been recognized over the past few years as key drivers of economic growth within the Emerging Markets and many institutional investors already have exposure to those countries within their portfolios.
"We have launched the MSCI EM Beyond BRIC Index in response to client demand and believe it offers a new way to track and evaluate the Emerging Markets opportunity set for those wishing to invest in countries outside the BRIC region," Yang added.
To help diversify the representation across the 17 countries in the index, the weights of larger Emerging Market countries such as Taiwan and Korea are capped on a quarterly basis at 15%, giving greater prominence to smaller Emerging Market countries including Thailand, Malaysia and Indonesia.
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