NEW YORK--(BUSINESS WIRE)--
MSCI Inc. (NYSE: MSCI), a leading provider of investment
decision support tools worldwide, including indices, portfolio risk and
performance analytics and corporate governance services, announced that
its MSCI ACWI IMI ex US, MSCI EAFE IMI and MSCI Emerging Markets IMI
Indices will serve as the basis for the international equity components
of iShares' Core Series of Exchange Traded Funds (ETFs). The iShares
Core Series, the launch of which was announced on October 15, 2012, is a
suite of products offering a family of domestic and international equity
and U.S. fixed income ETFs. Included in the launch are three
international equity ETFs: iShares Core MSCI Total International Stock
ETF, iShares Core MSCI Emerging Markets ETF, and iShares Core MSCI EAFE
ETF.
Baer Pettit, Managing Director and Head of MSCI's Index Business, said,
"We are delighted that iShares has chosen MSCI indices as the basis for
this exciting new series of ETFs. The licensing of these indices will
enable iShares to further broaden its product offering beyond ETFs based
on our standard family of indices. We look forward to continuing to work
with iShares in the future."
Mark Wiedman, Managing Director and Global Head of iShares, said, "All
three iShares Core international equity ETFs track segments of the
flagship MSCI ACWI Investable Market Index (IMI), providing investors
access to some of the broadest exposure available in the global equity
universe today. MSCI is the predominant choice of professional investors
and we're pleased to deepen our relationship with them through the
introduction of these new products using their indexes to help deliver
high quality portfolio construction to all investors small and large."
iShares selection of MSCI further broadens the range of MSCI indices
linked to iShares ETFs. Many of iShares' existing ETFs, including such
large ETFs as iShares MSCI Emerging Markets ETF and iShares MSCI EAFE
ETF, track indices from MSCI's standard family. The standard family of
indices is comprised of global large and mid-cap equities, and a number
of indices within the standard family, such as MSCI EAFE, MSCI Emerging
Markets and MSCI Europe, are among the world's mostly broadly followed
by institutional investors. While MSCI's licensing fees for use of its
ACWI IMI indices as the basis of the Core Series ETFs are lower than its
current blended average licensing fee with iShares, the terms of MSCI's
licenses with respect to existing ETFs were not amended.
The MSCI ACWI Investable Market Index (IMI) captures large, mid
and small cap representation across 24 Developed Markets (DM) and 21
Emerging Markets (EM) countries. The index is comprehensive, targeting
coverage of approximately 99% of the global equity investment
opportunity set, with a strong emphasis on liquidity, investability and
replicability. MSCI indices are reviewed quarterly with the objective of
reflecting changes in the underlying equity markets in a timely manner,
while limiting undue index turnover.
About MSCI
MSCI Inc. is a leading provider of investment decision support tools to
investors globally, including asset managers, banks, hedge funds and
pension funds. MSCI products and services include indices, portfolio
risk and performance analytics, and governance tools.
The company's flagship product offerings are: the MSCI indices with
approximately USD 7 trillion estimated to be benchmarked to them on a
worldwide basis1; Barra multi-asset class factor models,
portfolio risk and performance analytics; RiskMetrics multi-asset class
market and credit risk analytics; ISS governance research and outsourced
proxy voting and reporting services; and FEA valuation models and risk
management software for the energy and commodities markets. MSCI is
headquartered in New York, with research and commercial offices around
the world. MSCI#IR
1 As of June 30, 2011. Estimate based on eVestment, Lipper and
Bloomberg data
For further information on MSCI, please visit our web site at www.msci.com
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements relate to future events or to future financial performance
and involve known and unknown risks, uncertainties and other factors
that may cause our actual results, levels of activity, performance, or
achievements to be materially different from any future results, levels
of activity, performance, or achievements expressed or implied by these
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activity, performance, or achievements.
Other factors that could materially affect actual results, levels of
activity, performance or achievements can be found in MSCI's Annual
Report on Form 10-K for the fiscal year ended December 31, 2011 and
filed with the Securities and Exchange Commission (SEC) on February 29,
2012, and in quarterly reports on Form 10-Q and current reports on Form
8-K filed with the SEC. If any of these risks or uncertainties
materialize, or if our underlying assumptions prove to be incorrect,
actual results may vary significantly from what we projected. Any
forward-looking statement in this release reflects our current views
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This document and all of the information contained in it, including
without limitation all text, data, graphs, charts (collectively, the
"Information") is the property of MSCI Inc. or its subsidiaries
(collectively, "MSCI"), or MSCI's licensors, direct or indirect
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Information (collectively, with MSCI, the "Information Providers") and
is provided for informational purposes only. The Information may not be
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The Information may not be used to create derivative works or to verify
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The user of the Information assumes the entire risk of any use it may
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Without limiting any of the foregoing and to the maximum extent
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have any liability regarding any of the Information for any direct,
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The foregoing shall not exclude or limit any liability that may not by
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that such injury results from the negligence or wilful default of
itself, its servants, agents or sub-contractors.
Information containing any historical information, data or analysis
should not be taken as an indication or guarantee of any future
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None of the Information constitutes an offer to sell (or a solicitation
of an offer to buy), any security, financial product or other investment
vehicle or any trading strategy.
MSCI's indirect wholly-owned subsidiary Institutional Shareholder
Services, Inc. ("ISS") is a Registered Investment Adviser under the
Investment Advisers Act of 1940. Except with respect to any applicable
products or services from ISS (including applicable products or services
from MSCI ESG Research Information, which are provided by ISS), none of
MSCI's products or services recommends, endorses, approves or otherwise
expresses any opinion regarding any issuer, securities, financial
products or instruments or trading strategies and none of MSCI's
products or services is intended to constitute investment advice or a
recommendation to make (or refrain from making) any kind of investment
decision and may not be relied on as such.
The MSCI ESG Indices use ratings and other data, analysis and
information from MSCI ESG Research. MSCI ESG Research is produced by ISS
or its subsidiaries. Issuers mentioned or included in any MSCI ESG
Research materials may be a client of MSCI, ISS, or another MSCI
subsidiary, or the parent of, or affiliated with, a client of MSCI, ISS,
or another MSCI subsidiary, including ISS Corporate Services, Inc.,
which provides tools and services to issuers. MSCI ESG Research
materials, including materials utilized in any MSCI ESG Indices or other
products, have not been submitted to, nor received approval from, the
United States Securities and Exchange Commission or any other regulatory
body.
Any use of or access to products, services or information of MSCI
requires a license from MSCI. MSCI, Barra, RiskMetrics, ISS, CFRA, FEA,
and other MSCI brands and product names are the trademarks, service
marks, or registered trademarks of MSCI or its subsidiaries in the
United States and other jurisdictions. The Global Industry
Classification Standard (GICS) was developed by and is the exclusive
property of MSCI and Standard & Poor's. "Global Industry Classification
Standard (GICS)" is a service mark of MSCI and Standard & Poor's.
MSCI Inc.:
MSCI, New York
Edings Thibault, +
1-212-804-5273
or
Media:
MHP Communications, London
Sally
Todd or Jennifer Spivey, + 44-20-3128-8100
or
Abernathy
MacGregor, New York
Patrick Clifford or Nick Connors, +
1-212-371-5999
Source: MSCI Inc.
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