Money managers say South Korea will have to wait until next year to be added to FTSE Russell’s global bond index while it may take even longer for India’s inclusion into its emerging-market benchmark.
Among 10 global investors surveyed by Bloomberg, only two expected Korea’s addition into the World Government Bond Index to take place as early as in the September review. The rest including BNP Paribas Asset Management and abrdn plc said it will likely happen next year as the country needs to make more progress in improving market accessibility.
Foreigners purchased a net $49 billion of Korean bonds this year, making it the most popular debt market in Asia. They bought $3.4 billion of Indian notes. In March, FTSE Russell held off on adding both Korea and India to its key bond indexes and kept them on the watch list. The next review is scheduled Sept. 28.
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