Bloodstone Emerging Index

The Bloodstone Emerging Index is Bloodstone Research's proprietary universe of larger and more developed non-core public equity markets relevant to international investors.

Our classification takes account of MSCI and FTSE Russell market classifications, but does not replicate either provider. We also consider the size and depth of the domestic equity market, liquidity, accessibility to international investors, institutional development and the market's relevance to global capital.

Where major index providers disagree, Bloodstone assigns each market to the universe that best reflects its current market structure and investment characteristics. Bloodstone may also depart from both providers where differences in market depth, liquidity or accessibility make another classification more appropriate for Bloodstone's research coverage.

Each country or regional equity market appears in only one core Bloodstone universe.

Bloodstone classifications are designed for research coverage and should not be interpreted as an investable index or an official market classification.

Bloodstone Emerging does not include China or South Korea. Both are covered within Bloodstone's Asian equities research.

China's equity market is large enough to dominate any comparative emerging-market universe, which makes aggregate readings less informative about the other markets within it. South Korea sits between classifications: FTSE Russell classifies it as Developed while MSCI classifies it as Emerging.

Separating the two is intended to make Bloodstone Emerging readable as a cohort rather than as an average dominated by its largest member.