Market Returns


World Indicies (% change)


 
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013*
CAGR
MSCI Emerging Market 51.6 22.4 30.3 29.2 36.5 -54.5 74.5 16.4 -20.4 15.1 -2.5 12.9
MSCI Frontier Market 42.3 20.9 71.6 -10.8 38.6 -55.4 7.0 19.0 -22.1 4.9 13.4 6.5
MSCI EAFE 35.3 17.6 10.9 23.5 8.6 -45.1 27.7 4.9 -14.8 15.1 7.5 5.9
BIC Index (GDP weighted) 24.6 62.0 20.4 35.9 42.0 -46.5 67.0 37.1 -18.9 15.6 13.6 19.1


Source: Thomson Reuters
*Returns for 2013 as of 5/27/2013; GDP data for 2012 not available yet, so 2012 GDP weights used for 2013 BIC returns calculation<



Annualized Local Currency Returns (% change)


 
1 Year
3 Year
5 Year
MSCI Emerging Market 14.3 5.0 -3.1
MSCI Frontier Market 22.2 2.5 -12.2
MSCI EAFE 27.9 8.7 -4.3
ECA Custom Index (GDP weighted) 19.7 8.7 10.7
Vietnam 20.9 2.0 3.8
Pakistan 54.3 30.4 10.6
Sri Lanka 28.2 15.0 20.0
Bangledesh -17.1 -12.8 5.0
Laos 36.4    
Nepal 23.2 2.6  
China -1.3 -4.7 -7.8
India 24.3 7.0 3.9


Source: Thomson Reuters
*The ending date for 2013 is 5/27/2013 . The beginning date for Lao Stock Index is 1/11/11. The beginning date for Royal Nepal Index is 1/4/2009. Returns are not adjusted for currency effects.



Index Returns & Correlations


Jun 2002 - May 2013
U.S. Dollar Returns (%)
Standard Deviation (%)
Sharpe Ratio*
Correlation to MSCI Frontier Index*
MSCI Frontier 6.46 13.58 0.123 1.00
MSCI Emerging Markets 12.86 21.16 0.381 0.37
MSCI EAFE 5.87 19.45 0.158 0.34
S&P 500 6.23 20.19 0.170 0.10
ECA Region (GDP Weighted Index) 19.11 12.61 0.976 0.20
JPM Global Aggregate Bond 5.67 5.61 0.511 0.08


Source: Capital IQ
•Returns are based on price index data as of 05/27/2013. Risk-free rate assumed as 2.8% for developed markets and 4.8% for Emerging & Frontier Indices; 6.8% for ECA custom Index. Correlation return numbers calculated using daily price change data.



Country Returns (% change)


 
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
CAGR
Vietnam -8.9 43.3 28.5 144.5 23.3 -66.0 56.8 -2.0 -27.5 17.7 23.9 10.4
Pakistan 65.5 39.1 53.7 5.1 40.2 -58.3 60.0 28.1 -5.6 49.0 24.0 21.8
Sri Lanka 30.3 41.9 27.6 41.6 -6.7 -40.8 125.3 96.0 -8.5 -7.1 14.2 22.0
Bangladesh 14.1 103.7 -14.9 -4.0 87.5 -7.4 62.3 82.8 -36.6 -19.7 -6.2 16.3
Laos - - - - - - - - - 35.1 12.6 9.5
Nepal - - - - - - - -26.3 -21.8 69.0 -6.6 -7.1
China 10.3 -15.4 -8.3 130.4 96.7 -65.4 80.0 -14.3 -21.7 3.1 1.0 -5.0
India 72.9 13.1 42.3 46.7 47.1 -52.4 81.0 17.4 -24.6 25.7 3.1 18.7


Source: Thomson Reuters
*The ending date  for 2013 data is 5/27/2013 . The beginning date for Lao Stock Index is 1/11/11.   The beginning date for  Royal Nepal Index is  1/4/2009.Nepal CAGR calculated over 4 years and Laos CAGR over 2 years. Returns are in local currency.