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The Battle of the Bond Benchmarks. Jeffrey Frankel, February 11, 2013, Opinion. "Some prominent institutional bond investors are shifting their focus from traditional benchmark indices, which weight countries’ debt issues by market capitalization, toward GDP-weighted indices. PIMCO, one of the world’s largest fixed-income investment firms, and the Government Pension Fund of Norway, one of the largest sovereign wealth funds, have both recently made moves in this direction. But there is a risk that some investors could lose sight of the purposes of a benchmark index. The benchmark exists to represent the views of the median investor..." Link verified March 28, 2014