Chart of the Week

Is China Guilty of Category Fraud?

This chart description is for illustrative purposes only and its accuracy cannot be guaranteed. Please see full disclosures at end of PDF document in the web post. General description: Table describing categories and criteria of MSCI indices. Chart subtitle: Despite its rapid ascendancy in recent decades, China is categorized as an emerging country by MSCI due to the market classification framework utilized by the index provider. Chart source: Source: MSCI as of June 30, 2023. ATVR: Annualized Traded Value Ratio, which is a liquidity measure used to assess liquidity of securities in the MSCI Global Investable Market Indices. The ATVR corresponds to the Annualized Traded Value of a security relative to its Free Float‐Adjusted Market Capitalization. Chart description: First column is Criteria, second is Frontier, third is Emerging, and fourth is Developed. First row section is Economic Development, detailed with “Sustainability of economic development.” Frontier: No requirement. Emerging: No requirement. Developed: Country GNI per capita 25% above the World Bank high income threshold for 3 consecutive years. Second section is Size and Liability Requirements, with four sub-rows. First: Number of companies meeting the following Standard Index criteria: Frontier: 2 Emerging: 3. Developed: 5. Second: Company size (full market cap, USD): Frontier: $1,033M. Emerging: $2,066M. Developed: $4,133M. Third: Security size (float market cap, USD): Frontier: $73M. Emerging: $1,033M. Developed: $2,066M. Fourth: Security liquidity: Frontier: 2.5% ATVR. Emerging: 15% ATVR. Developed: 20% ATVR. Third section is Market Accessibility, with five sub-rows. First: Openness to foreign ownership: Frontier: At least some. Emerging: Significant. Developed: Very high. Second: Ease of capital inflows / outflows: Frontier: At least partial. Emerging: Significant. Developed: Very high. Third: Efficiency of operational framework: Frontier: Modest. Emerging: Good and tested. Developed: Very high. Fourth: Availability of investment instruments: Frontier: High. Emerging: High. Developed: Unrestricted. Fifth: Stability of the institutional framework: Frontier: Modest. Emerging: Modest. Developed: Very high. End chart description. See disclosures at end of document.

Updates

Nat Kellogg Speaking at eVestment Institutional Trends Quarterly Webcast 12/5
Learn more >

Marquette Manager Due Diligence Featured on Nonprofit News
Learn more >

Greg Leonberger Featured on Dakota Live! Podcast
Learn more >

See all updates

10.13.2023

3Q 2023 Market Insights Video

This video is a recording of a live webinar held on October 26 by Marquette’s research team, featuring in-depth analysis…

Watch video

10.26.2023

Portfolio Trick or Treat

Coming into 2023, investors were cautiously optimistic about 2023 market returns; cautious considering the broad losses across asset classes during…

Read article

10.12.2023

U.S. Equities: Surprising Strength Gives Way to Macro Risks

Equity market strength through the third quarter continues to challenge the common expectation going into the year. Cumulatively through September…

Read article

Independent Expertise

Completely independent investment expertise enables Marquette to place client interests at the center of everything we do. With 100% employee ownership and over 30 years of experience, our approach brings together the real-world experience of our people and our dedication to creativity and critical thinking in order to empower our clients to meet their goals.

View our expertise

Services

Investment Consulting

Defined Contribution Consulting

Outsourced CIO

Private Client Consulting

See all services

Featured Experts

Nichole Roman-Bhatty, CIMA® | Managing Director

Nichole leads the firm’s religious services practice area and is also the founder and co-lead of the sustainable investing group.

Get to know Nichole Meet the team

Miguel Zarate | Chief Operating Officer, Managing Director

Miguel serves as Marquette's chief operating officer and leads the firm's Taft-Hartley practice area.

Get to know Miguel Meet the team

Kweku Obed, CFA, CAIA | Managing Director

Kweku chairs the firm’s defined contribution services committee and serves on Marquette's board of directors.

Get to know Kweku Meet the team

Brian Wrubel | Chief Executive Officer

Marquette's CEO, Brian has been with the firm for over 30 years and serves as the chairman of the firm's board of directors and executive committee.

Get to know Brian Meet the team

James R. Wesner, CFA | Managing Director

James is a managing director for Marquette and leads the firm's endowments & foundations practice area.

Get to know James Meet the team

Tom Salemy, CFA, CAIA | Managing Director

Tom Salemy is a managing director for Marquette Associates and serves as the primary investment consultant on several client relationships.

Get to know Tom Meet the team

David H. Smith, CFA | Managing Director

Dave is a managing director at Marquette and leads the firm's healthcare practice area.

Get to know David Meet the team

Aimee O’Connor, CFP® | Managing Partner

Aimee is a managing partner at Marquette with over 18 years of investment experience.

Get to know Aimee Meet the team

Tim Burdick, CFA | Managing Director

Tim is a managing director for Marquette and serves on the firm’s board of directors.

Get to know Tim Meet the team

Greg Leonberger, FSA, EA, MAAA, FCA | Director of Research, Managing Partner

Marquette's Director of Research, Greg is a fully credentialed actuary and has over 20 years of investment experience.

Get to know Greg Meet the team

400+

Clients¹

99^%

Client retention rate²

100^%

Employee-owned³

Learn how our experts improve investment guidance.

¹Data as of June 30, 2023. ²The client retention rate is calculated as the average annual retention rate over the last 10 years. ³By current and former employees.

3Q 2023 Market Insights

Independent Investment Consulting