MSCI rings changes to small and micro cap indices
Make us a preferred source
Make us a preferred source on Google
The news: Eleven Australian stocks have been added to the MSCI Global Small Cap Index, with nine deleted.
The context: Six companies — Endeavour Group, Mineral Resources, Mirvac Group, Orica, Ramsay Health Care and Seek — were added to the small cap index after dropping out of the updated MSCI Global Standard Index.
The MSCI Global Standard Index captures large- and mid-cap stocks across developed and emerging markets, while MSCI's small and micro cap indices tracks smaller listed companies.
Five stocks — Iperionx, Macquarie Technology Group, Regal Partners, Tuas Group and Vulcan Energy Resources — were also added to the small cap index.
The nine companies deleted from the small cap index were Audinate Group, Clinuvel Pharmaceuticals, DroneShield, FleetPartners Group, HealthCo Healthcare, oOh!media, Pepper Money, Rural Funds Group and Star Entertainment.
Those companies joined the MSCI Global Micro Cap Index. They joined fellow Australian additions Brightstar Resources, Cuscal, Integral Diagnostics, Larvotto Resources, Meeka Metals, Opthea, Orthocell, Symal Group and Wia Gold.
Biotron, DGR Global, Elanor Investor Group, Generation Development Group, Pengana Capital Group, Percheron Therapeutics, Redflow and Zenith Minerals all fell out of the micro cap index.
MSCI's indices weigh stocks according to their market capitalisation, and are used as benchmarks for global equity portfolios.
The sources: MSCI release, MSCI release
