Greece Joins Emerging Markets Index

Wednesday marks Greece's return to a widely tracked emerging-markets stock index after a 12-year absence, but some fund managers aren't enthused.  Many investors who specialize in developing economies say they don't intend to invest in Greece's stock market the minute Greece officially becomes part of the MSCI Emerging Markets Index, to which about $1.4 trillion in portfolios are benchmarked. In June, MSCI said it would again label Greece as an emerging market. Greece had been deemed a developed market since May 2001, shortly after it adopted the euro.

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