Make Sure Your Financial Adviser Knows That Indexes Are Changing
- Addition of ‘communication services’ sector set for September
- Advisers asked about the shift were ‘like deer in headlights’
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Your indexes are about to be rejiggered. You may want to alert your financial adviser.
S&P Global Ratings and MSCI Inc. announced their decision to shake up the Global Industry Classification Standard (GICS) structure last year, combining phone companies with internet and media stocks into a sector called “communication services.” The changes are set to hit in September.