Fundsters, especially fundsters in the passive side of the business, brace yourselves for more index provider change.
Mike Stone and Jessica Toonkel of Reuters report
"is considering a sale of its index business." The Citi Fixed Income Indices offerings power $174 billion in ETF and mutual fund assets, according to Morningstar.
Citi declined to comment on the potential sale.
The news comes after the LSE shelled out
$2.7 billion earlier this year to buy Russell, mainly to get at its $9-trillion indexing business. And this summer news broke that at least two bidders were vying
for Barclays' fixed income indexing business.
On the flip side, Reuters
notes that earlier this year both Nasdaq OMX Group
and S&P Dow Jones Indices
told the wire service that they want to buy other indexers.
Neil Anderson, Managing Editor
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