MSCI Equity Indices May 2013 Index Review
GENEVA -- May 15, 2013
MSCI Inc. (NYSE: MSCI), a leading provider of investment decision support
tools worldwide, including indices, portfolio risk and performance analytics
and corporate governance services, announced today the results of the May 2013
Semi‐Annual Index Review for the MSCI Equity Indices – including the MSCI
Global Standard, MSCI Global Small Cap and MSCI Micro Cap Indices, as well as
the MSCI Global Value and Growth Indices, the MSCI Frontier Markets and MSCI
Frontier Markets Small Cap Indices, the MSCI Global Islamic and MSCI Global
Islamic Small Cap Indices, the MSCI Pan‐Euro and MSCI Euro Indices, the MSCI
US Equity Indices, the MSCI US REIT Index, as well as the MSCI China A
Indices. All changes will be implemented as of the close of May 31, 2013.
These changes have been posted on MSCI’s web site at
MSCI Global Standard Indices: Sixty securities will be added to and 61
securities will be deleted from the MSCI ACWI Index. The three largest
additions to the MSCI World Index measured by full company market
capitalization are Zoetis A (US), Telefonica Deutschland (Germany) and
Biomarin Pharmaceutical (US). The three largest additions to the MSCI Emerging
Markets Index measured by full company market capitalization are Shin
Corporation PCL (Thailand), Suzano Papel E Celulose (Brazil), and Oil India
MSCI Global Small Cap Indices: There will be 372 additions to and 334
deletions from the MSCI ACWI Small Cap Index.
MSCI Global Investable Market Indices: There will be 348 additions to and 311
deletions from the MSCI ACWI IMI.
MSCI Global All Cap Indices: There will be 411 additions to and 195 deletions
from the MSCI World All Cap Index.
MSCI Global Value and Growth Indices: For the MSCI ACWI Value Index, the
largest additions or style changes from growth to value will be United
Technologies Corp (US), BASF (Germany) and Altria Group (US). For the MSCI
ACWI Growth Index, the largest additions or style changes from value to growth
will be Berkshire Hathway B (US), Walt Disney (US) and Bank of America Corp
MSCI Frontier Markets Indices: There will be five additions to and five
deletions from the MSCI Frontier Markets Index. The three largest additions to
the MSCI Frontier Markets Index are Flour Mills Nigeria (Nigeria), Union Bank
Nigeria (Nigeria) and Irsa ADR (Argentina).
There will be 31 additions to and 22 deletions from the MSCI Frontier Markets
Small Cap Index.
Following a deterioration of liquidity in the Argentinean, Omani and Croatian
equity markets, Argentina and Oman will be reclassified from the “Average
Liquidity” to the “Low Liquidity” category, and Croatia will be reclassified
from the “Low Liquidity” to the “Very Low Liquidity” category.
In addition, MSCI will introduce a new standalone country index for Palestine
as part of the May 2013 Semi-Annual Index Review. The MSCI Palestine IMI Index
will include one Standard and three Small Cap constituents.
MSCI Global Islamic Indices: Twenty Seven securities will be added to and 64
securities will be deleted from the MSCI ACWI Islamic Index. The three largest
additions to the MSCI ACWI Islamic Index are Danone (France), PPR (France) and
McGraw-Hill Cos (US). There is one addition to and one deletion from the MSCI
Gulf Cooperation Council (GCC) Countries ex Saudi Arabia IMI Islamic Index.
MSCI US Equity Indices: There will be three securities added to and five
securities deleted from the MSCI US Large Cap 300 Index. The three additions
to the MSCI US Large Cap 300 Index are Sirius XM Radio, LinkedIn Corp A, and
Eighteen securities will be added to and 13 securities will be deleted from
the MSCI US Mid Cap 450 Index. The three largest additions to the MSCI US Mid
Cap 450 Index measured by full company market capitalization are Hartford
Financial Services, TD Ameritrade Holding Co and Boston Scientific Corp.
Ninety securities will be added to and 49 securities will be deleted from the
MSCI US Small Cap 1750 Index. The three largest additions to the MSCI US Small
Cap 1750 Index measured by full company market capitalization are Bio-Rad
Laboratories A, Washington Post Co B and CBOE Holdings.
There will be 44 additions to and 45 deletions from the MSCI US Micro Cap
For the MSCI US Investable Market Value Index, there will be 207 additions or
upward changes in Value Inclusion Factors (VIFs), and 202 deletions or
downward changes in VIFs. For the MSCI US Investable Market Growth Index,
there will be 228 additions or upward changes in Growth Inclusion Factors
(GIFs), and 200 deletions or downward changes in GIFs.
MSCI US REIT Index: There will be five additions to and no deletions from the
MSCI US REIT Index.
MSCI China A Indices: There will be 18 additions to and 57 deletions from the
MSCI China A Index. The three largest additions to the MSCI China A Index are
Bbmg Corp A, Avic Capital Co A and Shenzhen O Film Tech A. There will be 90
additions to and 16 deletions from the MSCI China A Small Cap Index.
The results of the May 2013 Semi‐Annual Index Review of the MSCI Pan‐Euro and
MSCI Euro Indices and the MSCI Global Islamic Small Cap Indices have also been
posted on MSCI’s web site at www.msci.com.
MSCI Inc. is a leading provider of investment decision support tools to
investors globally, including asset managers, banks, hedge funds and pension
funds. MSCI products and services include indices, portfolio risk and
performance analytics, and governance tools.
The company’s flagship product offerings are: the MSCI indices with close to
USD 7 trillion estimated to be benchmarked to them on a worldwide basis^1;
Barra multi-asset class factor models, portfolio risk and performance
analytics; RiskMetrics multi-asset class market and credit risk analytics; IPD
real estate information, indices and analytics; MSCI ESG (environmental,
social and governance) Research screening, analysis and ratings; ISS
governance research and outsourced proxy voting and reporting services; and
FEA valuation models and risk management software for the energy and
commodities markets. MSCI is headquartered in New York, with research and
commercial offices around the world.
^1As of September 30, 2012, as published by eVestment, Lipper and Bloomberg on
January 31, 2013
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