WASHINGTON, D.C., May 4, 1998-- IFC
has added seven new regional indexes to its family of emerging stock market
indexes. The IFC Investable index (IFCI) and the IFC Global (IFCG)
index series now each carry regional indexes for Emerging Europe, Eastern
Europe and Mideast/Africa, as well as a new IFCG Europe/Mideast/Africa
The IFCI indexes measure returns on stocks which are available to foreign
investors. The IFCG indexes show the performance of the most active stocks
in their respective stock markets even if they are unavailable to foreign
investors, and are designed as the broadest possible indicator of market
The new regional indexes and related valuation data are true sub-series
of the IFCI and IFCG Composite indexes and offer a seamless match to the
widely used benchmarks. The new regional index has history back to Dec.
The IFC Eastern Europe indexes include the Czech Republic, Hungary, Poland,
Russia and Slovakia. It is a subset of the Emerging Europe index which
also includes Greece, Portugal and Turkey. The IFCI Europe Index has a
year-to-date gain of 14% in dollar terms, while the IFCI Eastern Europe
Index is down nearly 7%.
The IFC Mideast/Africa (MEA) indexes cover Egypt, Israel, Jordan, Morocco,
Nigeria (in the IFCG series only), South Africa, and Zimbabwe. The IFCI
MEA Index was up 22% in dollar terms in 1998 at Friday’s close, and is
the major contributor to IFCI EMEA’s 18% rise in 1998 to date.
Peter Wall, manager of IFC’s index unit said the new regional indexes
would fill a gap and serve as a much-needed benchmark for regions that
have grown enormously in importance for emerging market investors in the
past three years. These indexes would help investors differentiate sources
of risk and return within the broad category of emerging stock markets,
he said. They can be seen at the IFC indexes website (www.ifc.org/EMDB/DAILY.HTM)
and through other sources commonly carrying IFC indexes.
IFC provides comprehensive, reliable statistics on emerging stock market
performance with the goal of stimulating the flow of private capital to
emerging markets. It is the world’s leading publisher of data on stock
markets in developing countries.
IFC, part of the World Bank Group, fosters economic growth in the developing
world by financing private sector investments, mobilizing capital in international
financial markets and providing technical assistance and advice to governments
For more information about the IFC Indexes, contact Peter Wall at (202)
473-9108, e-mail email@example.com, or check IFC’s website at www.ifc.org/press.