In addition, in April 2005, the Vanguard Group completed its adoption of the MSCI US Broad Market Index as the target benchmark for its Total Stock Market Index Fund with assets totalling more than $60 billion as of May 31, 2005, one of the largest benchmark switches in history.
With these two adoptions, assets benchmarked to the MSCI US Equity Indices now exceed $115 billion.
"We are very pleased with Sempraâs decision to use the MSCI US Equity Indices," said Ken OâKeeffe, Executive Director at MSCI. "Sempraâs adoption is not only evidence of the growing acceptance of the MSCI US Equity Indices, but also the investment communityâs growing need to use indices that broadly and appropriately reflect the various size and style segments of the U.S. markets, yet are replicable and designed to have low turnover."
Mr. OâKeeffe added, "With a growing list of clients, which now includes Sempra, Vanguard, Allstate, Callan and others, the MSCI US Equity Indices serve as benchmarks for investments of over $115 billion, in defined benefit pension plans, 401K plans, 529 plans, ETFs, and mutual funds."