Parametric Portfolio Associates, a majority-owned subsidiary of Eaton Vance Corp., with more than $136.5bn client assets under management, has selected the MSCI Emerging Markets Small Cap Index as the benchmark for their Parametric Emerging Markets Small Cap strategy.

The strategy is a new product for Parametric expanding on the Parametric Emerging Markets and Parametric Emerging Markets Core strategies, both of which are benchmarked to the MSCI Emerging Markets Index.

The Parametric Emerging Markets Small Cap strategy is an equity strategy that includes small-cap stocks from up to 24 developing countries.

The strategy utilizes a top-down, three-part process, designed to actively eliminate country and sector concentrations, and applies a disciplined, unemotional trading approach to build and maintain the strategy’s investment exposures.

Diana Tidd, Managing Director and Head of the MSCI Index Business in the Americas, said: ”We’re pleased that Parametric has seen the value of our flagship MSCI Emerging Markets Index family for their Small Cap strategy.”

“MSCI’s international benchmarks are preferred by investors around the world because they are built using a consistent methodology, which provides our clients with a clear way of looking at global investment opportunities,” she added.