look news india
New Delhi: India has become the sixth largest country in the MSCI All Country World Investable Market Index (ACWI IMI). India has overtaken China for the first time in the list and is trailed by France by a small margin. The combined weight of local stocks included in the All Country World Investable Market Index is 22.27 percent.
The All Country World Investable Market Index tracks the performance of global capital markets. India has become the largest emerging market in this index for the first time. At the end of August, India's weightage in this index was 2.35 percent, while China's weightage was 11 basis points less i.e. 2.24 percent. France is only 3 basis points more than India.
This index comprises large and mid-cap stocks. It is part of the broader All Country World Investable Index which comprises only large and mid-cap stocks.
According to analysts, India's gain in the All Country World Investable Market Index will not make much difference to passive investing as the index measures the performance of exchange traded funds (ETFs) with less than $2 billion in assets.
The overall weightage of local stocks included in the All Country World Investable Market Index is 22.27 per cent, while the weightage of Chinese stocks is 70 basis points lower at 21.58 per cent.
Top countries in the ACWI IMI index
|
No |
Country |
Importance |
|
1 |
America |
63% |
|
2 |
Japan |
5.73%
|
|
3 |
Britain |
3.51% |
|
4 |
Canada |
2.83% |
|
5 |
France |
2.38% |
|
6 |
India |
2.35% |
|
7 |
China |
2.28% |