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LMG's little contribution to the analysis of the spectrum of the new S&P equity index covering the 50 largest stocks in the OIC, the Organization of Islamic Cooperation.
S&P did exclude IR Iran, but we believe that an analysis of the scope of the Islamic spectrum gives a better idea about the size of this market when including Iran.
We compare things with a set of large Western markets and the BRICS nations.
Conclusion: the spectrum is definitely of interest, especially for investors who believe in the prospects of Frontier Markets.