投資

Emerging market investors dominated by indices

International investors are slaves to indices. Most of the time, they limit themselves to buying only stocks and bonds that are included in indices put together by index providers such as MSCI and JPMorgan.

This severely narrows their investable universe. According to the Institute of International Finance, only about $2.8tn out of $12.6tn in emerging market bonds and about $7.5tn out of $24.7tn in EM equities are bought or sold by foreign investors. The rest, they simply ignore.

The result is not only a lot of missed opportunities. It means that investors end up exposed to risks they might otherwise avoid. It can also produce sharp movements in asset prices that have little or nothing to do with the assets themselves.

您已閱讀21%(726字),剩餘79%(2658字)包含更多重要資訊,訂閱以繼續探索完整內容,並享受更多專屬服務。
版權聲明:本文版權歸FT中文網所有,未經允許任何單位或個人不得轉載,複製或以任何其他方式使用本文全部或部分,侵權必究。
設置字型大小×
最小
較小
默認
較大
最大
分享×