A fund tracking a specific country’s index can be a simple way to tap into regional trends but in a globalised world, this strategy doesn’t work for every market Dan Lefkovitz15 January, 2020 | 12:29PM map National equity-market indices are often cited as barometers of their countries’ economic health, but markets and economies are very different things.

A stock market is a collection of individual companies, whose fortunes are shaped by forces macro and micro, fundamental and technical, domestic and foreign. But in today’s globalised economy, where a company is domiciled or listed may not necessarily reflect where it does its business.

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