MSCI Inc., whose equity indexes are tracked by investors with about $3 trillion in assets, removed three stocks from its global standard indexes including Sino- Forest Corp., while adding five companies.
Sino-Forest, the Hong Kong-based forestry company listed in Canada, will be deleted from the MSCI All-Country World Index of global stocks, according to a statement today. Yellow Media Inc. (YLO), the Canadian directory publisher, and Home Retail Group Plc (HOME) in the United Kingdom will also be removed. U.S.-based watchmaker Fossil Inc. (FOSL), New Gold Inc. (NGD), Precision Drilling Corp. (PD), British aircraft-components maker GKN Plc (GKN) and Chinese refrigerant producer Dongyue Group (189) will be added to the gauge.
The changes will be implemented as of the Aug. 31 close, MSCI said in its statement.
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