Merrill targets prospering frontier

The index, which is designed to underlie financial instruments such as structured products, comprises 50 stocks from 17 countries including the United Arab Emirates (UAE), Kuwait, Nigeria, Morocco, Pakistan, Kazakhstan, Vietnam and Cyprus. Stocks must have a market capitalisation of at least US$500 million, a three-month daily average turnover of at least US$750,000 and a foreign ownership limit above 15%.

"Frontier markets have outperformed both emerging and developed equity markets since 20

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