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Market Reclassification Implementation Q&A
On June 11, 2013 MSCI announced the results of the 2013 Annual Market Classification Review. The
purpose of this document is to address commonly asked questions regarding the implementation of themarket reclassifications.
General Questions
Which indices will be reclassified following the 2013 Annual Market Classification Review?
MSCI will reclassify the MSCI Qatar and the MSCI United Arab Emirates (UAE) Indices from Frontier Markets to Emerging Markets, the MSCI Greece Index from Developed Markets to Emerging Marketsand the MSCI Morocco Index from Emerging Markets to Frontier Markets.
When will the impacted indices be reclassified?
The reclassification of the MSCI Qatar and the MSCI UAE Indices will coincide with the May 2014 Semi-Annual Index Review (SAIR), which isexpected to be effective on June2, 2014. The reclassification of the MSCI Greece and the MSCI Morocco Indices will coincide with the November 2013 SAIR, which is expected to be effective on November 27, 2013.
Which indices will be affected?
Since there are differences in the index maintenance rules applied to Developed, Emerging and FrontierMarkets,there will be changes in the respective MSCI Country Indices resulting from the change in theapplicable methodology. Generally, all the derived and composite indices related to the respective MSCI Country Indices will be impacted. The full list of impacted indices is available upon request.
Will the reclassifications be implemented in one step?
Yes, all the reclassifications will take place in one step.
When will MSCI make available the lists of index constituents post-reclassification?
The final list of constituents for the MSCI Qatarand the MSCI UAE Indicespost-reclassification is expected to be announcedon May 14, 2014, while the final lists of constituents post-reclassification for the MSCI Greece and MSCI Morocco Indices is expected to be announced on November 7, 2013.
How will MSCI derive the post-reclassification list of constitents?
MSCI will apply the post-reclassification index maintenance methodologies to the existing index constituents as well as newly eligible companies in the impacted MSCI Country Indices at the time of therelevant Index Review (November 2013 Semi-Annual Index Review for the MSCI Greece and MSCIMorocco Indices, May 2014 Semi-Annual Index Review for the MSCI Qatar and MSCI UAE Indices).Regular buffer zones, as defined in the GIMI methodology book, will be applicable for existingconstituents of the respective MSCI Country Index.
MSCI will reclassify the MSCI Qatar and the MSCI United Arab Emirates (UAE) Indices from Frontier Markets to Emerging Markets, the MSCI Greece Index from Developed Markets to Emerging Marketsand the MSCI Morocco Index from Emerging Markets to Frontier Markets.
When will the impacted indices be reclassified?
The reclassification of the MSCI Qatar and the MSCI UAE Indices will coincide with the May 2014 Semi-Annual Index Review (SAIR), which isexpected to be effective on June2, 2014. The reclassification of the MSCI Greece and the MSCI Morocco Indices will coincide with the November 2013 SAIR, which is expected to be effective on November 27, 2013.
Which indices will be affected?
Since there are differences in the index maintenance rules applied to Developed, Emerging and FrontierMarkets,there will be changes in the respective MSCI Country Indices resulting from the change in theapplicable methodology. Generally, all the derived and composite indices related to the respective MSCI Country Indices will be impacted. The full list of impacted indices is available upon request.
Will the reclassifications be implemented in one step?
Yes, all the reclassifications will take place in one step.
When will MSCI make available the lists of index constituents post-reclassification?
The final list of constituents for the MSCI Qatarand the MSCI UAE Indicespost-reclassification is expected to be announcedon May 14, 2014, while the final lists of constituents post-reclassification for the MSCI Greece and MSCI Morocco Indices is expected to be announced on November 7, 2013.
How will MSCI derive the post-reclassification list of constitents?
MSCI will apply the post-reclassification index maintenance methodologies to the existing index constituents as well as newly eligible companies in the impacted MSCI Country Indices at the time of therelevant Index Review (November 2013 Semi-Annual Index Review for the MSCI Greece and MSCIMorocco Indices, May 2014 Semi-Annual Index Review for the MSCI Qatar and MSCI UAE Indices).Regular buffer zones, as defined in the GIMI methodology book, will be applicable for existingconstituents of the respective MSCI Country Index.
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