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MSCI Jamaica, MSCI Trinidad and Tobago, MSCI Bosina and Herzegovina, MSCI Botswana, MSCI Ghana, MSCI Zimbabwe, and MSCI Saudi Arabia are currently standalone county indexes and are not included in MSCI Frontier Market indexes.

 

MSCI Annual Market Classification Review

During the Annual Market Classification Review, MSCI analyzes and seeks feedback on those markets it has placed under review for potential market reclassification. Every June, MSCI communicates its conclusions from the discussions with the investment community on the list of countries under review and announces the new list of countries, if any, under review for potential market reclassification in the upcoming cycle.

  • The review is based on the criteria set forth in the MSCI Market Classification Framework.
  • There are no country indexes currently under review for a potential reclassification to Developed Markets as part of the 2016 Annual Market Classification Review.
  • List of markets currently under review for a potential inclusion into Emerging Markets as part of the 2016 Annual Market Classification Review:
    • China A-shares
    • Pakistan
  • MSCI may announce the decision to include China A‐shares into Emerging Markets as soon as the issues it has outlined are resolved. This may happen outside the regular schedule of its Annual Market Classification Review.
  • MSCI will communicate its final conclusions on the potential inclusion of Pakistan into Emerging Markets in June 2016

View the latest press release:

MSCI Announces Results of the 2015 Annual Market Classification Review - English / Chinese


Treatment of Greece in the MSCI Indexes

On July 14, 2015, MSCI released a Q&A addressing commonly asked questions regarding the potential treatment of Greece in the MSCI Indexes in the event of prolonged market accessibility issues and/or a potential exit of the country from the eurozone.

General Q&A


Past market reclassifications:

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Country Indexes Market Reclassification Date*
MSCI Qatar Index From Frontier to Emerging Markets May 2014
MSCI UAE Index From Frontier to Emerging Markets May 2014
MSCI Greece Index From Developed to Emerging Markets November 2013
MSCI Morocco Index From Emerging to Frontier Markets November 2013
MSCI Trinidad & Tobago Index** From Frontier Markets to Standalone May 2011
MSCI Israel Index From Emerging to Developed Markets May 2010
MSCI Bangladesh Index From Standalone to Frontier Markets May 2010
MSCI Argentina Index From Emerging to Frontier Markets May 2009
MSCI Pakistan Index*** From Standalone to Frontier Markets May 2009
MSCI Jordan Index From Emerging to Frontier Markets November 2008
MSCI Lithuania Index From Standalone to Frontier Markets November 2008
MSCI Serbia Index From Standalone to Frontier Markets November 2008
MSCI Sri Lanka**** From Standalone to Frontier Markets November 2007
MSCI Venezuela Index***** From Emerging to Standalone May 2006
MSCI Greece Index From Emerging to Developed Markets May 2001
MSCI Portugal Index From Emerging to Developed Markets November 1997

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*As of the close of the last business day of the month.

**Trinidad and Tobago was added to the MSCI Frontier Markets Index in May 2009

***Pakistan was removed from the MSCI Emerging Market Index in December 2008 and maintained as a standalone country index

****Sri Lanka was removed from the MSCI Emerging Market Index in June 2001 and maintained as a standalone country index

*****Index was discontinued on January 2, 2008


MSCI Global Market Accessibility Review

Every June MSCI releases its Global Market Accessibility Review that includes the assessment of a series of accessibility measures for all markets covered in the MSCI Indexes. The Global Market Accessibility Review aims to reflect international investors' experience in investing in a given market and provides a detailed assessment of market accessibility for each country market included in the MSCI Indexes.

The assessment is intended to serve as the basis for a comparison of countries' market accessibility levels across investment universes. This review aims also to serve as a tool for international institutional investors to better track the evolution of market accessibility in individual countries as well as for regulators to be informed of the areas perceived as not meeting international standards and for which some improvements may be welcomed.

View the June 2015 MSCI Global Market Accessibility Review

Index country membership

View the MSCI Index Definitions document, covering MSCI Regional Equity Indexes, MSCI Index Variants and Definition of Terms for MSCI Indexes.

Access the Index Country Membership tool.

MSCI Market Classification Framework

The classification of markets is a key input in the process of index construction as it drives the composition of the investment opportunity sets to be represented.

MSCI Country Classification Standard

Easy access to the MSCI country classifications for the MSCI universe of equity securities.

MSCI Global Market Accessibility Review

Country Comparison covering Developed Markets, Emerging Markets, Frontier Markets and Standalone Markets for June 2015.

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