by Rajapaksap Mon Nov 15, 2021 10:01 am
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[size=32]MSCI adds Expolanka to its Frontier Markets Index[/size]
Monday, 15 November 2021 03:43 - - 215
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MSCI Inc., the leading provider of research-based indexes and analytics, has included Expolanka Holdings Plc in its Frontier Markets Equity Index.
Expolanka is one of the three largest additions to the MSCI Frontier Markets Index measured by full company market capitalisation. The other two are Phat Dat Real Estate (Vietnam) and Islandsbanki (Iceland).
MSCI also announced four deletions from the Index including Commercial Bank of Ceylon Plc.
The MSCI Sri Lanka Index has two constituents. John Keells Holdings is the other apart from Expolanka.
The MSCI Sri Lanka had offered 7.55% return as opposed to 8.57% by MSCI Frontier Markets index since 31 May 2002. MSCI Sri Lanka's PE ratio is 10.78 times as against 16.59 times of MSCI Frontier Index.
The most profitable listed corporate Expolanka is among the top three companies in terms of market capitalisation and the most valuable in terms of liquidity.
Launched in 2007, the MSCI Frontier Markets Index captures large and mid-cap representation across 27 Frontier Markets (FM) countries. The index includes 85 constituents, covering about 85% of the free float-adjusted market capitalisation in each country.
The countries include Bahrain, Bangladesh, Burkina Faso, Benin, Croatia, Estonia, Guinea-Bissau, Iceland, Ivory Coast, Jordan, Kenya, Lithuania, Kazakhstan, Mauritius, Mali, Morocco, Niger, Nigeria, Oman, Romania, Serbia, Senegal, Slovenia, Sri Lanka, Togo, Tunisia and Vietnam.
Sri Lanka has been aspiring to graduate to MSCI Emerging Markets Index for several years without success so far. The Asian countries in this Index include China, India, Indonesia, Korea, Malaysia, Pakistan, Taiwan and Thailand.
According to MSCI, $ 16.3 trillion in assets under management are benchmarked to MSCI indexes whilst over 1,300 equity ETFs are based on MSCI indexes.
The changes were following the semi-annual Index Review for all MSCI Equity Indexes.
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