Free Enterprise Project Urges Finance Giant To Remove Companies With Chinese Government Ties From Its Indexes

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MSCI Risks Losing Federal Employee Assets by Funding Chinese Government Enterprises ([link removed])


** Free Enterprise Project Urges Finance Giant To Remove
Companies With Chinese Government Ties From Its Indexes
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Washington, D.C. – MSCI CEO Henry A. Fernandez indicated at the company’s annual shareholder meeting today that the company has no plans to even consider adjusting its global investment indexes to exclude Chinese government-involved entities. This is despite bipartisan Senate pressure and a rapidly-deteriorating public attitude toward Chinese investment in the wake of the coronavirus pandemic.

During the virtual meeting, Scott Shepard ([link removed]) , Coordinator of the Free Enterprise Project ([link removed]) at the National Center for Public Policy Research, submitted the following question to Fernandez:

MSCI’s World ex USA Investable Market Index includes shares of many Chinese state-owned or-directed companies. Investors in that index fund effectively invest in the Chinese government and its instrumentalities. Even before the coronavirus crisis, Senators [Marco] Rubio ([link removed]) and [Jeanne] Shaheen ([link removed]) , among others ([link removed]) , were calling for the Thrift Savings Plan, the federal workers’ retirement fund, to stop using the MSCI index as a benchmark for its investments. These calls will only increase as the push to decouple from China ([link removed]) , and especially Chinese government-involved entities, grows intense
([link removed]) . Will MSCI commit to divesting this and other indexes of Chinese state-involved entities in order to maintain the Thrift Savings Plan as a vast and vital client?

After the meeting, Shepard said:

The coronavirus crisis has underscored, as nothing else could have, the serious – even existential – risks that arise from relying too heavily on China, Chinese companies and Chinese supplies. China is not a free country. It cannot be relied upon to tell the world what goes on within its borders. As we have experienced, this makes us all far too vulnerable to contagions.

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