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Should Bond Benchmarks Shift from Traditional to GDP-Weighted Indices?. Jeffrey Frankel, February 11, 2013, Opinion. "Some prominent institutional bond investors are shifting their focus away from traditional benchmark indices that weight countries’ debt issues by market capitalization, toward GDP-weighted indices. PIMCO (Pacific Investment Management Company, LLC, the world’s largest fixed-income investment firm) and the Government Pension Fund of Norway (one of the world’s largest Sovereign Wealth Funds), have both recently made moves in this direction. There is a danger that some investors will lose sight of the purpose of a benchmark index..." Link verified April 4, 2014