State and local pensions implored FTSE Russell, a leading index fund provider, to make SpaceX wait before joining the indices where public employees’ retirement dollars live.
Space Exploration Technologies Corp. is set to make its public market debut Friday. Index providers’ decisions to include the company on popular indices directly after that public offering threatens the retirement stability of teachers, firefighters, and other public servants who invest in index funds through their pensions, according to a June 10 letter from pension mangers in New York, Maryland, and Illinois.
FTSE Russell runs benchmarks like the Russell 3000 and recently decided to ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.