In 1988, MSCI Barra launched the MSCI Emerging Markets Index, which has become one of the most widely used emerging markets benchmarks for institutional and retail funds worldwide. To celebrate the 20th anniversary of the index in 2008, we published Emerging Markets: A 20-year Perspective, a comprehensive and insightful analysis of the evolution of emerging markets investing over the Index' first two decades.
As well as research from MSCI Barra, the publication features interviews with some of the key players who were at the forefront of emerging markets investing back in 1988 - Amy Schioldager, David Fisher,
Victor D Kohn, Mark Mobius and Allan Conway.
Highlights
- Between 1988 and 2008, strong economic growth combined with the development of the financial markets dramatically increased the opportunity set available to international investors.
- The road to emerging riches was bumpy, with regular and meaningful market crises, but early emerging markets investors have benefited hugely, despite higher volatility versus developed markets.
- Since the MSCI Emerging Markets Index was introduced in 1988, the weight of emerging markets in the MSCI All Country World Index has grown from less than 1% to 10% in 2008, leading to a radical change in the opportunity set available to international investors.
- Major geopolitical events have opened previously closed markets to investment - with the number of countries in the MSCI Emerging Markets Index increasing from 8 in 1988 to 25 in 2008.
- As emerging markets have become increasingly correlated with developed markets, so investors have started to look further afield to maximize return and provide diversification, just as they did in 1988 when the first emerging markets funds were launched.
To see further highlights from the research simply browse through the menu on the left or download Emerging Markets: A 20-year Perspective.
