Download Markit iBoxx USD Liquid Emerging Markets Sovereigns Index

Markit iBoxx USD Liquid Emerging
Markets Sovereigns Index
Independent and robust underlying for tradable products
The Markit iBoxx USD Liquid Emerging Market
Sovereigns Index consists of large liquid USD
denominated government debt issued by 20
emerging market countries.
Markit Indices are widely used as benchmarks by investors and asset managers.
They benefit from multi-source pricing from selected leading financial institutions,
which also provide support to the index family in research and trading.
$80 billion
AUM in ETFs
14,000+
indices
20,000+
bonds in indices
50+
price sources
Inclusion criteria
Bond types
500+
Eligible: Fixed coupon bonds, step-ups
Excluded: 144As and private placements, callables, capitalising bonds,
convertibles, floating rate notes, inflation-linked bonds, payment-in-kinds,
perpetuals, preferred shares, putables, restructured debt, sinking funds,
structured notes, zero coupon bonds.
clients
Clients
Issuer type
Sovereign debt issued by a central government or central bank.
Investment banks
Issuer cap
Country with a debt to GDP ratio below 80%: 12.5 %
Asset managers
Country with a debt to GDP ratio of 80% or above: 5 %
Hedge funds
Time to maturity
Insurance companies
Existing bonds: 1.25 years
ETF issuers
New bonds: 2 years
Rating
The minimum average bond rating to be considered eligible is CCC.
Issuer selection
Top 20 countries are selected quarterly according to the average score
obtained from:
1. Total amount outstanding in the broad Markit iBoxx USD Emerging
Markets Sovereigns Index
2. Quarterly debt trading volume
3. Debt to GDP ratio
Country eligibility
– Country must be classified as emerging market as defined in the Markit
Global Economic Development Classification Methodology
– Country must not be subject to financial sanctions
Index composition as of 30 June 2013
Country
Argentina
Brazil
Chile
Colombia
Croatia
Hungary
Indonesia
Lebanon
Lithuania
Mexico
Weight
Rating
Yield
Country
1.40
11.49
0.96
4.41
2.17
3.21
7.55
5.28
2.37
10.60
CCC
BBB
AA
BBB
BB
BB
BBB
B
BBB
BBB
18.64
9.68
6.42
9.34
11.08
11.68
10.30
14.03
8.79
8.64
Peru
Philippines
Poland
Romania
Russian federation
Slovenia
South africa
Turkey
Ukraine
Venezuela
Weight
Rating
Yield
3.26
6.94
4.03
1.15
5.63
1.56
2.56
12.73
3.84
8.85
BBB
BBB
A
BBB
BBB
BBB
BBB
BBB
B
B
8.79
8.16
7.35
10.35
9.20
13.85
8.55
10.81
19.20
25.38
More information
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indices, including access to index
constituent data or to license any
index for use as the basis of a financial
product, please contact us at
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at markit.com/indices or call one of
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markit.com
Markit iBoxx USD Liquid Emerging Markets Sovereigns Index
Index details
Index Weightings as of 30 June 2013
Pricing sources
The bonds are priced using multi-source pricing in accordance with methodology
available on www.markit.com/indices.
Calculation frequency
Daily after 4:00 pm EST/EDT
Rebalancing
Quarterly in accordance with rules available on www.markit.com/indices
Base date
31 October 2010
Market capitalisation
The target weight of each country reflects its weight in the Markit iBoxx USD
Emerging Markets Sovereigns Index and is capped at 12.5% except for when a
country has a debt to GDP ratio of 80% or more when its weight is capped at 5%.
EMEA
Latin America
Asia
Pricing
Markit iBoxx indices multi-source pricing and rigorous data checks provide the clearest view of the market.
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Markit iBoxx USD Liquid Emerging Markets Sovereigns Index – 8-10-2013