MSCI posts lower profit on higher expenses
Nov 6 (Reuters) - Investment analysis and market index company MSCI Inc posted a lower quarterly profit on higher expenses.
Net income fell to $48.3 million, or 39 cents per share, from $50 million, or 40 cents per share, a year earlier. Adjusted profit was 49 cents per share.
Vanguard Group, the largest U.S. mutual fund manager, said last month it was switching 22 of its biggest index funds away from benchmarks provided by MSCI to cut costs.
MSCI's operating expenses rose 6 percent to $152 million.