Vanguard’s benchmark switch to infuse Rs 7,850 crore in Indian equities

US-based mutual fund Vanguard decided to change its benchmark for its six international stock index products may result in about $1.5 billion, or Rs 7,850 crore, flowing into Indian equities over the next few months.

Vanguard, which is the largest mutual fund in the US with more than $1.7 trillion in assets, on Tuesday said it is shifting its benchmark for these exchange traded funds (ETFs)to FTSEGroup’s gauges from MSCI’sto cut costs.
Currently, India has 9.64% weightage on the FTSE Emerging Market Index while it is 7.05% on the MSCI Emerging Market Index.

http://articles.economictimes.indiatimes.com/2012-10-04/news/34260128_1_indian-equities-biggest-inflows-msci

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