MSCI November 2019 Rebalancing Review - Significant China A Expansion
MSCI has announced the results of the November 2019 semiannual rebalancing, as scheduled. The index provider set the minimum Russian market cap threshold at just below $3.4 bln, in line with our estimates. No material direct changes for Russia were announced, as expected. The only announced change to the standard indexes for Russian companies was a 0.06% increase to Polymetal's share count, which will have no impact on its weights in the MSCI Russia or EM indexes. Transneft remains in the indexes, with its free float-adjusted market cap having been almost 5% higher than the cutoff on MSCI's October 18 pricing date. The MSCI Russia Small-Cap index will see the addition of OGK-2 and the deletions of Rusagro and Raspadskaya. The changes will also be made to the MSCI Russia IMI index. We are unaware of substantial funds tracking these two indexes.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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