They certainly cannot be happy in Beijing. An exceedingly technical administrative decision in Washington, D.C. will soon result in investors pulling tens of billions of dollars in investments from a cash-strapped China.
On November 14, the Federal Retirement Thrift Investment Board changed the benchmark for the Thrift Savings Plan’s International Stock Index Investment Fund, better known as the I Fund.
Previously, the I Fund tracked the MSCI Europe, Australasia and Far East Index. The Thrift Board decided on November 14th instead to track the MSCI All Country World ex USA ex China ex Hong Kong Investible Market Index.
