Morgan's Indexes Are Under The Microscope
When Taiwan's stock market jumped by 5.6% in mid-June, fingers pointed halfway around the world to Geneva. That's where Capital International Perspective, a unit of a Los Angeles-based mutual-fund giant and business partner of Morgan Stanley, compiles the Morgan Stanley Capital International indexes. The Swiss gnomes had announced that as of Sept. 2, they would begin including Taiwan in the MSCI Emerging Markets Free index and other popular benchmarks. "Morgan fever!" blared Taiwanese headlines, as investors loaded up on shares to match the new index weightings.
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