Index provider Stoxx announced an interesting new benchmark – the Stoxx Global 1800 EM Exposed Index. In brief, this is a sub-index of its Stoxx 1800 Global Index (which holds 1,800 developed world stocks) focusing on companies that get a substantial portion (at least 33%) of their revenues from emerging markets.
The press release [PDF] has a bit more detail, as does the index data page on the Stoxx site (although there isn’t much data up yet). Conceptually, this is pretty similar to the Russell Geographic Exposure Index series launched in September.
In both cases, the idea is that you can get exposure to EM growth through developed world stocks that offer better liquidity, corporate governance and other desirable factors. It’s a fairly popular theme and with two related indices launched in the last few months there’s a good chance that we will see an exchange-traded fund based on it sooner or later.