Bonkers benchmarks: Aon is wrong to advocate an ex-China index for US fund

  • The US Federal Retirement Thrift Investment Board (FRTIB) changes benchmark index for US$68bn non-US equities fund

  • From MSCI Europe, Australasia and Far East (EAFE) to MSCI All Country World ex-USA ex-China ex-Hong Kong

  • New universe includes emerging markets (we agree) but, on advice of consultants Aon, excludes China-HK (we disagree)
November 16th, 2023
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