The MSCI emerging market index is down by about 20% from its peak on May 8, 2006, but is flat for the year.

MSCI新兴市场指数已经自2006年5月8日的高点下跌了20%，但从全年来看，还是平稳的。

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The widely followed MSCI emerging market index, which tracks emerging-markets shares, is up 60% this year, compared with a gain of 10% for the Dow Jones Industrial Average.

市场普遍关注的、跟踪新兴市场股市的摩根·士丹利资本国际新兴市场指数(MSCI Emerging Market Index)今年上涨了60%，而道琼斯工业股票平均价格指数涨幅仅为10%。

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LAST year record amounts flowed into emerging-market equities from rich-world investors, pushing the index prepared by MSCI up by 19%.

去年发达国家投资者购买新兴市场股票的资金创下了历史新高，MSCI(摩根·士丹利国际资本公司)计算的指数一路推高至19%。

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Most emerging market equity portfolios are benchmarked to the MSCI Emerging Market index.

FORBES: How To Balance A Balanced Fund

Next, we need to remember that the note is based on the MSCI Emerging Market (Price) Index which excludes the dividends.

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If you were investing directly in the MSCI Emerging Market Index via a fund or ETF, you would be reinvesting those dividends over the 18 months.

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