Personal Finance

If you can’t beat ’em: Stockpickers targeting index-provider MSCI

NEW YORK (Reuters) – Stockpickers are jumping into the boom in passive investing by loading up on shares of index-provider MSCI Inc, whose products are the basis for dozens of popular exchange traded funds.

Funds that increased their position in the company during the last quarter included the $ 116 billion Fidelity Contrafund, the $ 4.7 billion T Rowe Price Small Cap Growth Equity fund and the $ 1.5 billion Buffalo Discovery fund, Lipper data shows.

Overall, 71 funds added a stake in the company to their portfolios in the last quarter, a 97 percent jump from the previous quarter, according to Morningstar data.

Reuters: Money