How big is the investable universe? Which markets have delivered the best risk-adjusted returns? Just how big are the world’s largest companies?

These are among questions answered in the inaugural edition of the Institute’s Global Investment Tracker, which we’ve developed for leaders in business, policy and finance whose decisions depend on and influence the flow and cost of capital.

As its title suggests, the tracker offers a global perspective, drawing on 30 years of MSCI data and indexes across public and private markets to show how they have evolved alongside each other and how the geography and sectors of global equity have rewired themselves over three decades.

Among highlights from the tracker’s 22 charts and analysis:

How big are public and private markets?

Private markets have grown dramatically over the past two decades — private equity expanded nearly elevenvold and private credit expanded even faster. Both are still dwarfed by public debt (USD 130 trillion) and public equity (USD 99 trillion).

Which countries dominate global equity markets today?

The U.S. now represents 71% of developed-market equity, up from roughly 40% in the mid-1990s. Taiwan (home to TSMC) has recently overtaken China as the largest emerging market by value, with South Korea (home to Samsung) also rising fast — reflecting how heavily emerging-market exposure now leans on a handful of Asian technology companies.

Just how big are the world’s largest companies?

NVIDIA alone is worth more than the stock market of any single country outside the U.S. and Japan, based on data as of April 30, 2026.

The data invites readers to look beyond the shocks that define global markets daily to consider what the longer arc of how we arrived here might suggest about where capital could flow next.