Colombia has risen from being an “emerging” to “frontier” market in the Dow Jones Indexes Country Classification System, the company announced Friday.
Dow Jones Indexes Country Classification System |
The company did not clarify why it upped Colombia’s status in its classification.
According to a press release, the “Dow Jones Indexes Country Classification System attempts to strike an appropriate balance between rules-based methodology that incorporates objective data with the subjective guidance of the Dow Jones Index Oversight Committee (DJIOC), which renders the final classification assignment decision for each country.”
According to the classification, emerging markets “generally have less accessibility relative to developed markets, but demonstrate a level of openness.”
Dow Jones Indexes introduced the country qualification system in December 2010. Colombia started off in the middle “emerging” category.
Dow Jones declined to enter into the specifics of what “tipped the scale” regarding the decision to classify Colombia as an “emerging” market, when contacted by Colombia Reports.
Correction