Markit announces an emerging market bond index
Markit has published an index levels for the GEMX, which is a family of benchmark indices referencing emerging market bond and debt all denominated in local currencies.
The bond index serves as a benchmark for the Gemloc program, which is an initiative designed to help emerging market countries develop their local currency bond markets and attract more investment.
GEMX bond fund is comprised of over 20 countries, although eventually additional countries are expected to be added to it later this year. In Asia the index is made up of China, Indonesia, India, Thailand, Malaysia, and the Philippines.
The Middle East and Eastern European components include Russia, Hungary, Nigeria, Poland, Russia, Morocco, Slovakia, Turkey, Egypt, and South Africa. Chile, Brazil, Columbia, Mexico, and Peru make up the Latin American fund weighting of 25% with 49 bonds.