danyf escribió:Announcement for April 16, 2019 at 08:17 PM GMT
THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES
DETAILS ON THE IMPLEMENTATION OF THE RECLASSIFICATION OF THE MSCI ARGENTINA AND
MSCI SAUDI ARABIA INDEXES TO EMERGING MARKETS AND THE WEIGHT INCREASE OF CHINA A
SHARES IN THE MSCI EMERGING MARKETS INDEXES
MSCI Inc. (NYSE: MSCI), a leading provider of research-based indexes and
analytics, announced on June 20, 2018 that the MSCI Argentina and the MSCI Saudi
Arabia Indexes will be reclassified to Emerging Markets from Frontier Markets
and Standalone Markets, respectively. In addition, on February 28, 2019, MSCI
announced that it will increase the weight of China A shares in the MSCI
Emerging Markets Indexes.
DETAILS ON THE IMPLEMENTATION OF THE RECLASSIFICATION OF THE MSCI ARGENTINA
INDEXES
MSCI will implement the inclusion of the MSCI Argentina Indexes in the MSCI
Emerging Markets Indexes in one step coinciding with the May 2019 Semi-Annual
Index Review (SAIR). As part of the May 2019 SAIR, the MSCI Argentina Indexes
will converge with the MSCI Provisional Argentina Indexes, which are rebalanced
using Emerging Markets size and liquidity requirements, and added to the MSCI
Emerging Markets Indexes.
DETAILS ON THE IMPLEMENTATION OF THE RECLASSIFICATION OF THE MSCI SAUDI ARABIA
INDEXES
The inclusion of the MSCI Saudi Arabia Indexes will be implemented in two equal
steps, measured in terms of free float-adjusted market capitalization,
coinciding with the May 2019 SAIR and August 2019 Quarterly Index Review (QIR).
In the first step, the MSCI Saudi Arabia Indexes will be rebalanced using
Emerging Markets size and liquidity requirements and included in the MSCI
Emerging Markets Indexes with an Index Inclusion Factor of 0.5 as part of the
May 2019 SAIR. In the second step, the Index Inclusion Factor of the Saudi
Arabian securities in the MSCI Emerging Markets Indexes will be increased to 1
as part of the August 2019 QIR.
DETAILS ON THE IMPLEMENTATION OF THE WEIGHT INCREASE OF CHINA A SHARES
The weight increase of China A shares in the MSCI Emerging Markets Indexes will
be implemented according to the following schedule:
- Increase the Index Inclusion Factor of all China A Large Cap shares in the
MSCI Emerging Markets Indexes from 5% to 10% and add ChiNext Large Cap shares
with a 10% inclusion factor coinciding at the May 2019 SAIR.
- Increase the inclusion factor of all China A Large Cap shares, including the
ChiNext Large Cap shares, in the MSCI Emerging Markets Indexes from 10% to 15%
at the August 2019 QIR.
- Increase the inclusion factor of all China A Large Cap shares, including the
ChiNext Large Cap shares, in the MSCI Emerging Markets Indexes from 15% to 20%
and add China A Mid Cap shares, including eligible ChiNext Mid Cap shares, with
a 20% inclusion factor at the November 2019 SAIR.
In order to prevent reverse turnover in the Standard MSCI China Index, MSCI will
not implement migrations between the Large Cap and the Mid Cap Size-Segments in
the MSCI China Indexes until the inclusion of Mid Cap China A shares at the
November 2019 SAIR. This treatment is applicable to all share classes across all
MSCI China Indexes with the exception of the MSCI China A Onshore Indexes.
To provide more transparency on the construction and maintenance of the MSCI
Saudi Arabia Index and the MSCI Provisional Argentina Index, MSCI has made
available a list of securities that are part of the Investable Equity Universe
of the MSCI Saudi Arabia and MSCI Provisional Argentina Indexes on
https://www.msci.com/market-classification.
MSCI has also made available a detailed Q&A document on:
https://www.msci.com/market-classification.
The updated MSCI Global Investable Market Indexes Methodology with details on
the implementation of the above changes has been posted on
https://www.msci.com/index-methodology.
For further information on MSCI indexes or MSCI data, please visit our web site
at
http://www.msci.com, or contact:
MSCI Global Client Service:
Americas Client Service: 1.888.588.4567 (toll free)/+ 1.212.804.3901 EMEA Client
Service: + 44.20.7618.2222 Asia Pacific Client Service: + 852.2844.9333
THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES
End of announcement.
Further announcements may occur as needed.