(Bloomberg) -- MSCI Inc. is eliminating Russian equities from the firm’s widely-tracked emerging-markets index, cutting the stocks off from a large segment of the investment-fund industry as penalties mount over Russia’s invasion of Ukraine.
“During the consultation, MSCI received feedback from a large number of global market participants, including asset owners, asset managers, broker dealers, and exchanges with an overwhelming majority confirming that the Russian equity market is currently uninvestable and that Russian securities should be removed from the MSCI Emerging Markets Indexes,” MSCI said in a statement on Wednesday.
The decision will be implemented in one step across all MSCI Indexes as of the close of March 9, according to the statement.
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