Weight problems

Article Abstract:

Emerging market indices are used for performance measurement, helping define investment strategies, and boosting turnover. There is concern over the weighting given to Russia by the J.P. Morgan Emerging Market Bond Index Plus (EMBI plus), since the Russian crisis may have had a disproportionate impact on the market as a whole. The EMBI plus excludes small issues and bonds rarely traded, giving weight to countries issuing a great deal of debt. Reforms could give an index that is less volatile but may not be as much use.

Public & Private Bonds, Capital market, Capital markets

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Return of the active shareholder

Article Abstract:

Pension funds are more often today being invested in stocks that are selected on the basis of an index. One large US public pension fund, CAlpers, has indexed over the years but is now considering investing in risky companies. This is not appropriate.

Management, Pension funds

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The discreet charm of mediocrity

Article Abstract:

Index funds are being criticized by investment fund managers, as indexers are creating a trend of buying and selling outside of stock exchanges. One criticism is that indexers are biased against small companies.

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