China, U.S. Excluded From Federal Retirement Thrift Investment Board Benchmark

Posted on 11/17/2023

The Federal Retirement Thrift Investment Board has voted to change the benchmark for its international fund to an index that excludes the USA and China. The Plan is worth US$ 770.5 billion. The new benchmark will be the MSCI All Country World ex USA ex China ex Hong Kong Investable Market index.

It has 5,621 large, mid, and small cap stocks. Shares account for 90% of non-U.S. market capitalization. The board explained: “By broadening the index, the board is expanding investment opportunities and improving the Fund’s risk-return profile, in line with its statutory mandate and fiduciary duty to the 6.9 million TSP participants.”

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