The Vanguard Group today is following through with its plans to switch six international stock index funds to FTSE benchmarks by transitioning its Vanguard Emerging Markets Stock Index Fund, which previously tracked the MSCI Emerging Markets Index, to the FTSE Emerging Transition Index, effective immediately.

According to a regulatory filing, the fund’s index will gradually reduce its South Korean equity exposure by some 4% each week for 25 weeks while proportionately adding exposure to other countries based on their weightings in the new index. Afterwards, the fund will cease tracking the FTSE Emerging Transition Index altogether and begin tracking the FTSE Emerging Index.

The $61 billion fund carries an expense ratio of 33 basis points, according to Morningstar. It is managed by Michael Perre and Duane Kelly.

Also, the ETF share class of the fund, previously known as Vanguard MSCI Emerging Markets ETF, has changed its name to Vanguard FTSE Emerging Markets ETF.

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