Utilize the input text as a context reference, choose the right relationship between MSCI world and MSCI from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

The MSCI world index has advanced 3 percent this year and the MSCI emerging markets index has fallen more than 6.5 percent, as investors have switched their holdings.

Answer: operator