JULY 2019
Index Methodology
 
 
MSCI WORLD 
ROBOTICS AI AND 
CLOUD 
TECHNOLOGIES 
SELECT ESG INDEX 
METHODOLOGY 
 
 
   
July 2019

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MSCI WORLD ROBOTICS AI AND CLOUD TECHNOLOGIES SELECT ESG INDEX 
Methodology | July 2019
 
 
 
 
1 
Introduction ....................................................................... 3 
2 
MSCI ESG RESEARCH........................................................ 4 
2.1 
MSCI ESG RATINGS ......................................................................... 4 
3 
Index Construction Methodology ....................................... 4 
3.1 
The Set Of Relevant Words And Phrases Used For CONSTITUENT 
Selection ..................................................................................................... 4 
3.2 
Company Level Data Used For Assessing Company Exposure ..... 5 
3.3 
Initial Eligible Universe ..................................................................... 5 
3.3.1 
Selection On Business Segments ...................................................................... 5 
3.3.2 
Selection On Company Summary Description ............................................... 5 
3.4 
Selected Business Segments .......................................................... 5 
3.5 
Sic Code Selection............................................................................ 5 
3.6 
Calculating The Stock Relevance Score .......................................... 6 
3.6.1 
Relevance Score Discount Factor ...................................................................... 6 
3.6.2 
Relevance Score...................................................................................................... 6 
3.6.3 
Eligible Universe ...................................................................................................... 6 
3.7 
Additional Screens ........................................................................... 7 
3.7.1 
Liquidity Screen ....................................................................................................... 7 
3.7.2 
ESG eligibility criteria ............................................................................................. 7 
3.8 
Weighting Scheme ........................................................................... 7 
4 
Maintenance of the Index .................................................. 8 
4.1 
Semi-Annual Index Reviews ............................................................. 8 
4.2 
Ongoing Event Related Changes ..................................................... 8 
 
 
Contents

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MSCI WORLD ROBOTICS AI AND CLOUD TECHNOLOGIES SELECT ESG INDEX 
Methodology | July 2019
 
 
 
1 
Introduction 
The MSCI World Robotics AI and Cloud Technologies Select ESG Index aims to 
represent the performance of stocks which are determined to have high exposure to 
business activities such as Robotics, Artificial Intelligence and Cloud Technology 
related activities. The index in addition has an ESG screen to exclude stocks with low 
ESG performance based on MSCI ESG Research metrics. The Index aims to achieve 
diversification by capping exposure to US listed companies to 75% and weight of 
individual securities to 5%. Taking into account UCITS III investment limits, MSCI 
applies constraints on the weights of the index.  These constraints are applied in line 
with the MSCI 10/40 Index Methodology

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MSCI WORLD ROBOTICS AI AND CLOUD TECHNOLOGIES SELECT ESG INDEX 
Methodology | July 2019
 
 
2 
MSCI ESG RESEARCH 
The MSCI World Robotics AI and Cloud Technologies Select ESG Index uses 
company ratings and research provided by MSCI ESG Research. The index uses the 
following MSCI ESG Research products: MSCI ESG Ratings, MSCI ESG Controversies, 
MSCI Business Involvement Screening Research, and MSCI Climate Change Metrics. 
For details on MSCI ESG Research’s full suite of ESG products, please refer to: 
https://www.msci.com/esg-integration 
 
2.1 
MSCI ESG RATINGS  
MSCI ESG Ratings provides research, analysis and ratings of how well companies 
manage environmental, social and governance risks and opportunities.  
MSCI ESG Ratings provides an overall company ESG rating - a seven-point scale from 
‘AAA’ to ‘CCC’. In addition, the product provides scores and percentiles indicating 
how well a company manages each key issue relative to industry peers.  
For more details on MSCI ESG Ratings, please refer to: https://www.msci.com/esg-
ratings 
3 
Index Construction Methodology 
The MSCI World Robotics AI and Cloud Technologies Select ESG Index is 
constructed by selecting stocks from the MSCI World Index (herein “Parent Index”) 
based on rules explained in the following sections.  
The Index includes companies which are determined to have high exposure to 
business activities such as Robotics, Artificial Intelligence, Cybersecurity, Sharing 
Economy, Social Media, Digital Payments and Cloud Computing. 
3.1 
THE SET OF RELEVANT WORDS AND PHRASES USED FOR CONSTITUENT 
SELECTION 
MSCI uses a broad set of relevant words and phrases derived from the index 
objective which are important to describing the product and services that cater to 
increased adoption & utilization of products and services due to digital technology, 
robotics, Artificial Intelligence and cloud computing.

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MSCI WORLD ROBOTICS AI AND CLOUD TECHNOLOGIES SELECT ESG INDEX 
Methodology | July 2019
 
 
3.2 
COMPANY LEVEL DATA USED FOR ASSESSING COMPANY EXPOSURE 
The following data is used at the company level: 
• 
Business segment information from company annual reports and vendor 
data sources: business segment names, assigned SIC Codes1 and related 
revenue. 
• 
An English language summary description of the company’s business 
activities from public sources. 
3.3 
INITIAL ELIGIBLE UNIVERSE 
All stocks from the Parent Index which satisfy any of the following criteria are 
selected for the initial eligible universe. 
3.3.1 
SELECTION OF BUSINESS SEGMENTS 
Company identified business segment names are compared against the set of 
relevant words. Companies from the Parent Index which include at least one relevant 
word in their business segment names are included in the initial eligible universe. 
3.3.2 
SELECTION ON COMPANY SUMMARY DESCRIPTION 
The company’s summary business description is compared against the set of 
relevant words. Companies from the Parent Index which include at least two distinct 
relevant words in their summary description are included in the initial eligible 
universe. 
3.4 
SELECTED BUSINESS SEGMENTS 
Selected business segments are business segments which include at least one 
relevant word. These are the business segments based on the criteria identified in 
section 3.3.1. 
3.5 
SIC CODE SELECTION 
Company business segments are mapped to a SIC code. The SIC Code selection is a 
set of all the SIC codes which satisfy the following criteria: 
                                              
1 Company’s business segments are assigned with a specific SIC (Standard Industry Classification) description for products 
and services, used by official agencies within the US government. These descriptions provide additional information on 
the nature of the segment.

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MSCI WORLD ROBOTICS AI AND CLOUD TECHNOLOGIES SELECT ESG INDEX 
Methodology | July 2019
 
 
• 
The SIC code is mapped to at least one of the ‘selected business segments’ 
as described in section 3.4.  
• 
The SIC code is assigned to the business segments of at least two different 
stocks from the eligible universe. SIC Code 9999 is not selected. 
 
3.6 
CALCULATING THE STOCK RELEVANCE SCORE 
A relevance score for all stocks in the eligible universe is calculated. The relevance 
score for a company is calculated by taking into account the portion of company’s 
revenue which is derived from the selected business segments (as described in 
section 3.4) and business segments mapped to any SIC Code selected in the SIC 
Code selection step (as described in section 3.5). 
3.6.1 
RELEVANCE SCORE DISCOUNT FACTOR 
A stock level relevance score discount factor is calculated by normalizing the 
cumulative frequency of relevant words in the company’s summary description 
relative to all companies selected on summary business descriptions as described in 
section 3.3.2. 
At a company’s business segment level, the revenue discount factor is applied on 
revenue from the SIC Code selected in section 3.5. The revenue discount factor is 1 
for revenue derived from the selected business segment. 
 
3.6.2 
RELEVANCE SCORE 
Relevance score for stocks in the eligible universe is calculated as: 
Relevance Score = [revenue from the selected business segments (as described in 
section 2.4) + relevance score discount factor * revenue from the business segments 
mapped to selected SIC Code (as described in section 2.5)] / Total company 
revenue. 
3.6.3 
ELIGIBLE UNIVERSE 
Stocks from the initial eligible universe with a relevance score of 25% or more are 
included in the eligible universe.

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MSCI WORLD ROBOTICS AI AND CLOUD TECHNOLOGIES SELECT ESG INDEX 
Methodology | July 2019
 
 
3.7 
ADDITIONAL SCREENS 
3.7.1 
LIQUIDITY SCREEN 
The securities from the eligible universe above are subsequently screened for 6-
month ADTV to be greater than USD 5 Million. 
ADTV is defined as Average Daily Traded Volume and is calculated as: 
𝐴𝐷𝑇𝑉6𝑀= 
𝐴𝑇𝑉6𝑀2
252
 
3.7.2 
ESG ELIGIBILITY CRITERIA 
The companies from eligible universe above with an MSCI ESG Rating of ‘BB’ or 
above are included in the MSCI World Robotics AI and Cloud Technologies Select 
ESG Index. 
3.8 
 WEIGHTING SCHEME 
The securities remaining after the additional screening from the in section 3.7.2 are 
included in the index. These securities are weighted by their market cap. The weight 
of each selected security is capped at 5% at initial construction and at every Index 
Review. Additionally, the exposure to securities listed in USA is capped at 75%. At the 
final step, the exposure of the resulting set of constituents is capped based on the 
MSCI 10/40 Indexes methodology3. 
 
 
 
 
 
 
                                              
2 For details on ATV calculation methodology, please refer to following documents: 
https://www.msci.com/eqb/methodology/meth_docs/MSCI_IndexCalcMethodology_Apr2019.pdf 
https://www.msci.com/documents/10199/7366222/MSCI_GIMIMethodology_Jun2019.pdf/5dc8116b-6d0f-bdd2-7f51-
1882b4470059 
3 MSCI Index Calculation Methodology at https://www.msci.com/index-methodology

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MSCI WORLD ROBOTICS AI AND CLOUD TECHNOLOGIES SELECT ESG INDEX 
Methodology | July 2019
 
 
4 
Maintenance of the Index 
4.1 
SEMI-ANNUAL INDEX REVIEWS 
The MSCI World Robotics AI and Cloud Technologies Select ESG Index is reviewed 
on a semi-annual basis using the steps described in section 3, coinciding with the 
May and November Semi-Annual Index Reviews. 
The pro forma index is in general announced nine business days before the first 
effective date. 
4.2 
ONGOING EVENT RELATED CHANGES 
The following section briefly describes the treatment of common corporate events 
within the MSCI World Robotics AI and Cloud Technologies Select ESG Index. 
 
No new securities will be added (except where noted below) to the Index between 
Index Reviews. For cases where additions are noted below, securities will be added 
to the Index only if added to the Parent Index. Parent Index deletions will be reflected 
simultaneously.

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MSCI WORLD ROBOTICS AI AND CLOUD TECHNOLOGIES SELECT ESG INDEX 
Methodology | July 2019
 
 
EVENT TYPE 
 
 
 
 
EVENT DETAILS 
 
 
 
New additions to the Parent Index 
A new security added to the parent 
index (such as IPO and other early 
inclusions) will not be added to the 
index. 
 
Spin-Offs 
All securities created as a result of the 
spin-off of an existing Index 
constituent will be added to the Index 
at the time of event implementation. 
Reevaluation for continued inclusion 
in the Index will occur at the 
subsequent Index Review. 
 
Merger/Acquisition 
For Mergers and Acquisitions, the 
acquirer’s post event weight will 
account for the proportionate amount 
of shares involved in deal 
consideration, while cash proceeds 
will be invested across the Index. 
 
If an existing Index constituent is 
acquired by a non-Index constituent, 
the existing constituent will be deleted 
from the Index and the acquiring non-
constituent will not be added to the 
Index. 
 
Changes in Security Characteristics 
A security will continue to be an Index 
constituent if there are changes in 
characteristics (country, sector, size 
segment, etc.) Reevaluation for 
continued inclusion in the Index will 
occur at the subsequent Index Review. 
 
Further detail and illustration regarding specific treatment of corporate events 
relevant to this Index can be found in the MSCI Corporate Events Methodology book 
under the sections detailing the treatment of events in Capped Weighted and Non-
Market Capitalization Weighted indexes.  
  
The MSCI Corporate Events methodology book is available at:  
https://www.msci.com/index-methodology

JULY 2019
Index Methodology
 
 
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