Wall Street Fund Giants Face Headache as Indexes Dump Russia
- MSCI joins index providers making changes amid Ukraine turmoil
- Analysts see echoes of Greece, Egypt shutdowns in ETF market
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Major index providers are officially cutting Russian assets from their gauges, ratcheting up the pressure on an exchange-traded fund industry already facing an extraordinary stress test.
MSCI Inc. and FTSE Russell both said late Wednesday they’re removing Russian equities from some of their widely-tracked indexes a day after Stoxx Ltd. announced it will delete Russian companies from its benchmarks and close its country-specific gauge. Firms including S&P Dow Jones Indices and JPMorgan Chase & Co. are still consulting on the matter, with decisions expected soon.