MSCI’s flagship emerging market stock index has become ever more narrowly focused since 2000, with the $1.6tn of money benchmarked to it now heavily exposed to Asia.
The region accounts for a record 69.5 per cent of the index, up from 63.1 per cent a year ago and a little over 40 per cent in 2000, according to analysis by Geoff Dennis, a strategist at UBS.
As a result, the weighting of the (eastern) Europe, Middle East and Africa region has fallen to 17.6 per cent and that of the Latin American region has fallen to a record low of just 12.9 per cent, less than half its weight in 2000.
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