Expert investors and analysts have been saying it for years: Economies in the emerging markets have become so sophisticated that the so-called frontier markets are becoming the place to find richer yields.

Russell Investments launched an index group that investors can use as a benchmark for holdings in their portfolio. The company, based in Tacoma, Wash., launched the index group last week. The Russell Frontier Index will initially include 683 stocks from 41 countries, none of which are represented in the Russell Emerging Markets Index or Russell Developed Index.

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