While the coronavirus dominates headlines, it is easy to forget that 2019 was a massive year for China's A-share market. Last year, global index provider MSCI increased the inclusion factor of China A-shares in its Emerging Markets Index to 20%, a move that exceeded expectations and elevated the market from being a "good option" to an essential piece of the Emerging Markets ((EM)) puzzle. At the same time, the move put MSCI-benchmarked investors on notice. The message is clear: invest in the A-share market or incur tracking error.
Passively managed fund flows into A-shares were