Screening for democracy, as new BRICS line up

News Snapshot:

In an investment world trumpeting new-found ethical and sustainability guidelines, the seeming indifference of markets to democratic credentials still remains stark. As the BRICS grouping of developing economies this week planned expansion, a perennial question about whether democracy really matters in the choice of portfolio investment destination returns to the dashboard of global asset managers. Although three of the current five BRICS - Brazil, Russia, India, China and South Africa - are functioning democracies, China dominates the coagulating bloc and the list of planned new members - Saudi Arabia, Iran, UAE, Egypt and Argentina - show democracy is low on...