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...ex-China index....
...But according to a client note from BlackRock’s iShares arm, the world’s largest ETF provider, seen by the FT, the number of European ETFs with a triple-A ESG rating from MSCI is set to tumble from 1,120...
...In March 2023 the iShares ESG Aware MSCI USA ETF (ESGU) haemorrhaged $3.9bn in one day. On the same day the iShares MSCI USA Quality Factor ETF (QUAL) saw a $4.8bn jump in net inflows....
...Funds targeting cheaper “value” stocks amassed just $5.3bn, the lowest reading for four years, while minimum volatility ETFs bled $16.4bn....
...“We have seen products like EMXC [the iShares MSCI Emerging Markets ex China ETF] be quite popular, with $700mn of net inflows in January,” he said, while the smaller Columbia EM Core ex-China ETF (XCEM)...
...China’s size, making up a quarter of the MSCI Emerging Markets Index, means, meanwhile, that a downturn there can cause index investors to lose money even when other emerging countries are holding up....
...To be fair to my ex-colleagues though, measuring their balanced funds against benchmarks comprising two passive indices (such as MSCI World for equities or Bloomberg Global Aggregate for bonds) is harsh....
...The fund will switch from the MSCI Europe, Australasia and Far East index to the MSCI All Country World ex-USA ex-China ex-Hong Kong Investable Market index....
...Companies with more gender-balanced workforces outperformed their least-balanced peers by as much as 2 percentage points annually between 2013 and 2022, a BlackRock study of the MSCI World index has found...
...Meanwhile, the Macquarie global equities ETF is benchmarked against the MSCI World ex-Australia Index and is managed by Walter Scott & Partners, the UK-based equities fund house owned by BNY Mellon Investment...
...The $290mn iShares MSCI China A ETF had outflows of $14mn, while a net $2mn in cash left the $17mn BlackRock China A Opportunities Fund....
...However he noted that one bright spot was the iShares MSCI Emerging Markets ex-China ETF (EMXC) which took in $1.6bn, a sizeable sum for a fund that even now has just $7.2bn of assets....
...The discount to the MSCI world index, ex-the US, is smaller but still not inconsiderable at 19 per cent....
...The MSCI ACWI returned 8.48 per cent annualised in the 10 years to the end of 2023, while the MSCI USA index returned 11.98 per cent....
...Here, for example, is the S&P 500 against the MSCI world ex-US and MSCI emerging market indices: This divergence has made “this is the year that international stocks catch up with the US” a perennial January...
...BlackRock’s sister World ex US Carbon Transition Readiness ETF (LCTD) debuted with a further $500mn on the same day, but today boasts assets of just $468mn....
...Europe has fewer such problems with Nestlé, the biggest name in the MSCI Europe ex UK index, making up 4.3 per cent of the index at the end of March....
...Emerging markets in south-east Asia are also beginning to see foreign inflows, encouraged by a rally of more than 5 per cent for the MSCI Asean index since July 7....
...I’m sure somebody at some hedge fund has a wicked arbitrage going on this. Ethan WuThis all raises the question, do cocoa traders actually eat chocolate?...
...The declines were still fairly modest — the MSCI World index dropped 2.3 per cent overall — but it was still the worst week since March....
...Despite better market conditions this year, they pulled in another $4.6bn in the first six months, even before BlackRock, the world’s largest asset manager, launched its first funds, potentially kick-starting...
...Is it possible that becoming top-heavy just sort of happens as an index grows old? That’s the premise of a recent paper from Lisa Goldberg, of BlackRock’s Aperio research group....
...The changes, which take effect from December 1, apply to the HSBC MSCI Europe, Japan, USA, World, Asia Pacific ex-Japan and Emerging Markets Climate Paris-Aligned Ucits ETFs....
...After another bad year in 2022, the MSCI Emerging Markets index is lower than it was before the 2008 crisis....
...So, for example, they construct the MSCI World Index, which covers lots of kind of different global stocks. And another index composer is Footsie....
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