EME Strategy: MSCI November 2018 SAIR predictions
The MSCI is due to announce the results of its semi-annual index review (SAIR) on 13 November 2018, after the market closes, with the changes effective as of the 30 November close/3 December opening. The MSCI will choose one of the last 10 business days of October for price calculations for the coming index review. Here is what we expect for our EME region:MSCI Poland index: we reiterate our call that Grupa Azoty may be removed from the index; while we see Play Communications as a borderline case, with slightly greater chances for staying in the index than being removed, noting however that the exclusion could happen depending on the day selected by the MSCI for price calculations.
MSCI Greece index: we see a chance for a single removal from the index – Piraeus Bank.
MSCI Russia index: we see a chance of Polymetal being added and RusHydro being removed.
MSCI Turkey index: we expect up to five removals from the index – including Coca Cola Icecek and Ulker; Yapi Kredi and Vakifbank are borderline cases, in our view, that may face the risk of exclusion.
MSCI Hungary index: we expect no changes.
MSCI Czech Republic index: we expect no changes.
MSCI Romania index: we expect no changes.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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