What is the appropriate index construction methodology for African equity investment?
The authors build on research into the African equity universe to recommend a more appropriate index for investment. Three different methodologies were investigated, namely capitalization, equal, and fundamental weighting of index constituents. The authors conclude that diversification is not best served by a market capitalization approach to African index construction and that better risk/reward characteristics can be achieved by the alternative methodologies surveyed.
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Volume (Year): 36 (2013)
Issue (Month): ()
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