Russell Investments company plans Gulf index - The National

A top US money manager is planning to create a region-wide index to rival New York's MSCI in the Gulf.

Russell Investments, a Washington company with about US$155 billion (Dh569.33bn) of assets under management, intends to build a pan-GCC index that could include the six Gulf countries on its emerging market benchmark.

The company, which advises on $2 trillion of assets, intends to create a benchmark that includes Saudi Arabia, whose market accounts for half of the entire market capitalisation and almost three quarters of the entire equity value traded on all GCC stock exchanges.