Early May saw the launch of the unusually named S&P CIVETS 60. The press release said the index targets what it terms “second-generation” emerging markets. The CIVETS acronym references Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa.

The index includes 60 components, consisting of ten liquid stocks from each of the six targeted countries. Components are weighted by modified market capitalisation.

South Africa carried the heaviest weight in the index at launch, at 31.6%. It was followed by Indonesia at 28.3%, Turkey at 21.8%, Colombia at 12.4%, Egypt at 4.9% and Vietnam at 1%.

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