The world probably does not need it, but another emerging
markets acronym accessible via
has burst onto the scene. Turner Investments has brought the
world TIMPs - Turkey Indonesia, Mexico and the Philippines.
Turner's report recalls that BRIC for Brazil, Russia, India
and China proved successful in large part because of good
Introduced in 2001 by Goldman Sachs' Jim O'Neil, and for the
next decade the group grew at a 6.6 percent clip-and investors
gained 424 percent from 2001 through 2010,
. News of the TIMPs acronym was originally reported in the
Barron's online edition on Thursday.
For country-specific plays on TIMPs, investors can use the
iShares MSCI Turkey Investable Market Index Fund (NYSE:
), the iShares MSCI Indonesia Investable Market Index Fund (NYSE:
) or the Market Vectors Indonesia ETF (NYSE:
), the iShares MSCI Mexico Capped Investable Market Index Fund
) and the iShares MSCI Philippines Investable Market Index Fund
On a year-to-date basis, TIMPs has performed well. When using
EIDO as the Indonesia ETF, the average return offered by the four
TIMPs ETFs is about 6.8 percent this year.
Thing is including Indonesia, Mexico and Turkey in emerging
markets acronyms is not a new phenomenon. Indonesia and Turkey
are the "I" and "T" in CIVETS. The MIST acronym is hardly
different than TIMPs. Drop the Philippines in favor of South
Korea and there is MIST.
Still, it should be noted that TIMPs has been a better
performer this year than BRIC and MIST. And kudos to Turner
Investments for including the Philippines, which the firm said is
"ready to meet the mostly unfulfilled expectations many have held
for it," as Barron's reports.
However, TIMPs is not the first emerging markets acronym to
include the Philippines. The answer to which acronym first
included the rapidly growing Southeast Asian nation is the
unheralded CAPPT acronym. CAPPT for Chile, Argentina, Peru, the
Philippines and Thailand.
Unlike many of the more widely known developing world
acronyms, CAPPT does offer some degree of regional symmetry with
three South American nations and two Southeast Asian
CAPPT is accessible through EPHE along with the iShares MSCI
Chile Capped Investable Market Index Fund (NYSE:
), the Global X FTSE Argentina 20 ETF (NYSE:
), the iShares MSCI All Peru Capped Index (NYSE:
) and the iShares MSCI Thailand Capped Investable Market Index
Recent pullbacks in EPHE and THD have weighed on CAPPT's
returns, but through mid-March, the acronym was outpacing
BRIC, CIVETS and MIST year-to-date
and that is even with EPU trading down on the year.
With EPHE and THD looking buys on following the recent
pullback and ECH holding up well relative to other South America
ETFs, CAPPT looks poised to deliver ongoing out-performance in
For more on CAPPT, click
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