Citi has added a suite of emerging markets indices to its fixed income index family.
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The Emerging Markets Government Bond Index (EMGBI), which will form the basis of the indices is designed to measure the performance of fixed-rate, local currency sovereign bonds. It will also serve as a benchmark for the emerging sovereign fixed income markets.
EMGBI-JIT, a variant of the EMGBI, is designed to serve as a benchmark for performance evaluation by Japanese investment trusts.
Citi stated that three emerging markets China, India, and Sri Lanka will join the index family as individual indices to form a set of EMGBI Additional Market Indices. The markets will be monitored for inclusion to the EMGBI if specific criteria are met.
Anil Prasad, global head of FX and local markets at Citi, said: "Citi is committed to providing relevant instruments to investors. We leverage our research expertise, coupled with our index construction discipline to create benchmarks that provide investors with a point of reference for evaluation of their portfolio’s performance."
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