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KARACHI: Following MSCI’s previous announcement of reclassification of Pakistan from the Emerging Market to the Frontier Market Index in August 2021, the global index provider has disclosed constituents alongside the November 2021 Semi-Annual Index Review (SAIR).

While the reclassification coincided with the November 2021 SAIR, effective date of transition has been set at December 01, 2021.

Pakistan’s weight is estimated at 1.36 percent (as per Thursday closing) in the MSCI FM Large Cap Index with LUCK (0.56 percent weight), HBL (0.42 percent weight) and MCB (0.37 percent weight) making the cut, Tahir Abbas at Arif Habib Limited said.

Reclassification: MSCI adds three Pakistani securities to Frontier Markets Index

Apart from this, the MSCI has announced 14 constituents under the MSCI Small Cap Index namely ENGRO, EFERT, FFC, HUBC, MARI, MTL, POL, PPL, PSO, SEARL, SYS, TRG, and UBL.

To recall, MSCI had previously simulated OGDC to be part of the Large Cap Index however, it could not be added to the final list while INDU, BAHL, NBP, PKGS and ABOT were axed from the final MSCI Small Cap list as well, he added.

“We also highlight that the MSCI also started the consultation for inclusion of Pakistan in the MSCI FM 100 index and MSCI FM 15 percent country capped index, which will be announced in the February 2022 quarterly review (applicable in the May 2022 SAIR).”

Copyright Business Recorder, 2021

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