MSCI Inc. (NYSE: MSCI), a leading provider of research-based indexes and
analytics, announced today the results of the August 2017 Quarterly
Index Review for the MSCI Equity Indexes – including the MSCI Global
Standard, MSCI Global Small Cap and MSCI Micro Cap Indexes, the MSCI
Global Value and Growth Indexes, the MSCI Frontier Markets and MSCI
Frontier Markets Small Cap Indexes, the MSCI Frontier Emerging Markets
Index, the MSCI Global Islamic and MSCI Global Islamic Small Cap
Indexes, the MSCI Pan-Euro and MSCI Euro Indexes, the MSCI US Equity
Indexes, the MSCI US REIT Index, the MSCI China A Indexes and the MSCI
China All Shares Indexes. All changes will be implemented as of the
close of August 31, 2017. These changes have been posted on the Index
Review web page on MSCI’s web site at https://www.msci.com/index-review.
MSCI Global Standard Indexes: Three securities will be added to
and three securities will be deleted from the MSCI ACWI Index. There
will be two additions to the MSCI World Index, namely Renesas
Electronics Corporation (Japan) and KION Group (Germany). General
Interface Solution (Taiwan) will be the only addition to the MSCI
Emerging Markets Index.
MSCI Global Small Cap Indexes: There will be two additions to and
eight deletions from the MSCI ACWI Small Cap Index.
MSCI Global Investable Market Indexes: There will be one addition
to and seven deletions from the MSCI ACWI Investable Market Index (IMI).
MSCI Global All Cap Indexes: There will be one addition to and
three deletions from the MSCI World All Cap Index.
MSCI Global Value and Growth Indexes: There will be no additions
to the MSCI ACWI Value Index while Renesas Electronics Corporation
(Japan), KION Group (Germany) and General Interface Solution (Taiwan)
will be added to the MSCI ACWI Growth Index.
MSCI Frontier Markets Indexes: There will be no additions to and
no deletions from the MSCI Frontier Markets Index.
There will also be no additions to and no deletions from the MSCI
Frontier Markets Small Cap Index.
MSCI Global Islamic Indexes: Twenty-five securities will be added
to and twenty-one securities will be deleted from the MSCI ACWI Islamic
Index. The three largest additions to the MSCI ACWI Islamic Index
measured by full company market capitalization will be Samsung
Electronics Co (Korea), Samsung Electronics Pref (Korea) and Emirates
Telecom Corp (UAE). There will be six additions to and no deletions from
the MSCI Gulf Cooperation Council (GCC) Countries ex Saudi Arabia IMI
MSCI US Equity Indexes: There will be no securities added to and
one security deleted from the MSCI US Large Cap 300 Index.
One security will be added to and two securities will be deleted from
the MSCI US Mid Cap 450 Index. The largest addition to the MSCI US Mid
Cap 450 Index will be Chipotle Mexican Grill A, which will be migrating
from the MSCI US Large Cap 300 Index.
Two securities will be added to and no securities will be deleted from
the MSCI US Small Cap 1750 Index. The largest addition to the MSCI US
Small Cap 1750 Index will be New Sally Holding.
There will be no additions to and no deletions from the MSCI US Micro
For the MSCI US Investable Market Value Index, there will be one
addition or upward change in Value Inclusion Factor (VIF), and one
deletion or downward change in VIF. For the MSCI US Investable Market
Growth Index, there will be no addition or upward change in Growth
Inclusion Factor (GIF), and no deletion or downward change in GIF.
MSCI US REIT Index: There will be no additions1 to and
no deletions from the MSCI US REIT Index.
MSCI China A Indexes: There will be six additions to and three
deletions from the MSCI China A Index. The three largest additions to
the MSCI China A Index will be Focus Media Info Tech A, Giant Network
Group Co A and First Capital Sec A. There will be one addition to and
two deletions from the MSCI China A Small Cap Index.
MSCI China A International Large Cap Provisional Index: There
will be 15 additions to and one deletion from the MSCI China A
International Large Cap Provisional Index.
- Ends -
For more than 40 years, MSCI’s research-based indexes and analytics have
helped the world’s leading investors build and manage better portfolios.
Clients rely on our offerings for deeper insights into the drivers of
performance and risk in their portfolios, broad asset class coverage and
Our line of products and services includes indexes, analytical models,
data, real estate benchmarks and ESG research.
MSCI serves 97 of the top 100 largest money managers, according to the
most recent P&I ranking.
For more information, visit us at www.msci.com.
This document and all of the information contained in it, including
without limitation all text, data, graphs, charts (collectively, the
“Information”) is the property of MSCI Inc. or its subsidiaries
(collectively, “MSCI”), or MSCI’s licensors, direct or indirect
suppliers or any third party involved in making or compiling any
Information (collectively, with MSCI, the “Information Providers”) and
is provided for informational purposes only. The Information may not be
modified, reverse-engineered, reproduced or redisseminated in whole or
in part without prior written permission from MSCI.
The Information may not be used to create derivative works or to verify
or correct other data or information. For example (but without
limitation), the Information may not be used to create indexes,
databases, risk models, analytics, software, or in connection with the
issuing, offering, sponsoring, managing or marketing of any securities,
portfolios, financial products or other investment vehicles utilizing or
based on, linked to, tracking or otherwise derived from the Information
or any other MSCI data, information, products or services.
The user of the Information assumes the entire risk of any use it may
make or permit to be made of the Information. NONE OF THE INFORMATION
PROVIDERS MAKES ANY EXPRESS OR IMPLIED WARRANTIES OR REPRESENTATIONS
WITH RESPECT TO THE INFORMATION (OR THE RESULTS TO BE OBTAINED BY THE
USE THEREOF), AND TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW,
EACH INFORMATION PROVIDER EXPRESSLY DISCLAIMS ALL IMPLIED WARRANTIES
(INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF ORIGINALITY,
ACCURACY, TIMELINESS, NON-INFRINGEMENT, COMPLETENESS, MERCHANTABILITY
AND FITNESS FOR A PARTICULAR PURPOSE) WITH RESPECT TO ANY OF THE
Without limiting any of the foregoing and to the maximum extent
permitted by applicable law, in no event shall any Information Provider
have any liability regarding any of the Information for any direct,
indirect, special, punitive, consequential (including lost profits) or
any other damages even if notified of the possibility of such damages.
The foregoing shall not exclude or limit any liability that may not by
applicable law be excluded or limited, including without limitation (as
applicable), any liability for death or personal injury to the extent
that such injury results from the negligence or willful default of
itself, its servants, agents or sub-contractors.
Information containing any historical information, data or analysis
should not be taken as an indication or guarantee of any future
performance, analysis, forecast or prediction. Past performance does not
guarantee future results.
The Information should not be relied on and is not a substitute for the
skill, judgment and experience of the user, its management, employees,
advisors and/or clients when making investment and other business
decisions. All Information is impersonal and not tailored to the needs
of any person, entity or group of persons.
None of the Information constitutes an offer to sell (or a solicitation
of an offer to buy), any security, financial product or other investment
vehicle or any trading strategy.
It is not possible to invest directly in an index. Exposure to an asset
class or trading strategy or other category represented by an index is
only available through third party investable instruments (if any) based
on that index. MSCI does not issue, sponsor, endorse, market, offer,
review or otherwise express any opinion regarding any fund, ETF,
derivative or other security, investment, financial product or trading
strategy that is based on, linked to or seeks to provide an investment
return related to the performance of any MSCI index (collectively,
“Index Linked Investments”). MSCI makes no assurance that any Index
Linked Investments will accurately track index performance or provide
positive investment returns. MSCI Inc. is not an investment adviser or
fiduciary and MSCI makes no representation regarding the advisability of
investing in any Index Linked Investments.
Index returns do not represent the results of actual trading of
investible assets/securities. MSCI maintains and calculates indexes, but
does not manage actual assets. Index returns do not reflect payment of
any sales charges or fees an investor may pay to purchase the securities
underlying the index or Index Linked Investments. The imposition of
these fees and charges would cause the performance of an Index Linked
Investment to be different than the MSCI index performance.
The Information may contain back tested data. Back-tested performance is
not actual performance, but is hypothetical. There are frequently
material differences between back tested performance results and actual
results subsequently achieved by any investment strategy.
Constituents of MSCI equity indexes are listed companies, which are
included in or excluded from the indexes according to the application of
the relevant index methodologies. Accordingly, constituents in MSCI
equity indexes may include MSCI Inc., clients of MSCI or suppliers to
MSCI. Inclusion of a security within an MSCI index is not a
recommendation by MSCI to buy, sell, or hold such security, nor is it
considered to be investment advice.
Data and information produced by various affiliates of MSCI Inc.,
including MSCI ESG Research LLC and Barra LLC, may be used in
calculating certain MSCI indexes. More information can be found in the
relevant index methodologies on www.msci.com.
MSCI receives compensation in connection with licensing its indexes to
third parties. MSCI Inc.’s revenue includes fees based on assets in
Index Linked Investments. Information can be found in MSCI Inc.’s
company filings on the Investor Relations section of www.msci.com.
MSCI ESG Research LLC is a Registered Investment Adviser under the
Investment Advisers Act of 1940 and a subsidiary of MSCI Inc. Except
with respect to any applicable products or services from MSCI ESG
Research, neither MSCI nor any of its products or services recommends,
endorses, approves or otherwise expresses any opinion regarding any
issuer, securities, financial products or instruments or trading
strategies and MSCI’s products or services are not intended to
constitute investment advice or a recommendation to make (or refrain
from making) any kind of investment decision and may not be relied on as
such. Issuers mentioned or included in any MSCI ESG Research materials
may include MSCI Inc., clients of MSCI or suppliers to MSCI, and may
also purchase research or other products or services from MSCI ESG
Research. MSCI ESG Research materials, including materials utilized in
any MSCI ESG Indexes or other products, have not been submitted to, nor
received approval from, the United States Securities and Exchange
Commission or any other regulatory body.
Any use of or access to products, services or information of MSCI
requires a license from MSCI. MSCI, Barra, RiskMetrics, IPD, FEA,
InvestorForce, and other MSCI brands and product names are the
trademarks, service marks, or registered trademarks of MSCI or its
subsidiaries in the United States and other jurisdictions. The Global
Industry Classification Standard (GICS) was developed by and is the
exclusive property of MSCI and Standard & Poor’s. “Global Industry
Classification Standard (GICS)” is a service mark of MSCI and Standard &
1 The Index Review price cutoff date is July 20, 2017. Please
note that Alexander & Baldwin Inc. will be added to the MSCI US REIT
Index as part of the August 2017 Quarterly Index Review following a
change in its Global Industrial Classification Standard (GICS®) to
Diversified REITs which was announced on August 1, 2017 and will be
effective on September 1, 2017.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170810006235/en/