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ā¢ The Federal Retirement Thrift Investment Board is shifting the benchmark for its fund to the MSCI All Country World excluding the US, China, and Hong Kong markets from the current MSCI Europe, Australasia, and Far East (EAFE) Index.
ā¢ Reliance Industries, ICICI Bank, Infosys, HDFC Bank, and TCS are expected to benefit from the move, with an estimated inflow of $3.7-$3.8 billion into Indian equities in 2024.
ā¢ The absence of China in the index is seen as a positive for markets like India, with Reliance Industries potentially receiving an inflow of $243 million.