PRESS RELEASEMSCI Equity Indexes August 2018 Index ReviewLondon – August 13, 2018 – MSCI Inc. (NYSE:MSCI), a leading provider of research‐based indexes and analytics,
announced today the results of the August 2018 Quarterly Index Review for the MSCI Equity Indexes – including
the MSCI Global Standard, MSCI Global Small Cap and MSCI Micro Cap Indexes, the MSCI Global Value andGrowth Indexes, the MSCI Frontier Markets and MSCI Frontier Markets Small Cap Indexes, the MSCI Frontier
Emerging Markets Index, the MSCI Global Islamic and MSCI Global Islamic Small Cap Indexes, the MSCI Pan‐
Euro and MSCI Euro Indexes, the MSCI US Equity Indexes, the MSCI US REIT Index, the MSCI China All SharesIndexes and the MSCI China A Onshore Indexes. All changes will be implemented as of the close of August 31,
2018. These changes have been posted on the Index Review web page on MSCI's web site athttps://www.msci.com/index‐review.
Inclusion of China A Shares: Coinciding with this Index Review, MSCI will implement the second step of thepartial inclusion of China A shares in the MSCI China Index as well as relevant composite indexes such as theMSCI Emerging Market Index. Existing China A share constituents will have their weights increased following
the increase in the inclusion factor from 2.5% to 5% of their respective FIF1‐adjusted market capitalization. Inaddition, ten China A shares will be added2 as part of this Index Review at 5% of their FIF‐adjusted market
capitalization, bringing the total China A shares included in the MSCI China Index to 236, representing 0.75% ofthe MSCI Emerging Markets Index.
MSCI Global Standard Indexes: Eighteen securities will be added to and four securities will be deleted from theMSCI ACWI Index. The only addition in the MSCI World Index will be Showa Denko K.K (Japan). The threelargest additions by full company market capitalization in the MSCI Emerging Markets Index will be China
Shenhua A (China), China United Network A (China) and Hengli Petrochemical A (China).
MSCI Global Small Cap Indexes: There will be four additions to and twelve deletions from the MSCI ACWI Small
Cap Index.
MSCI Global Investable Market Indexes: There will be twelve additions to and six deletions from the MSCIACWI Investable Market Index (IMI).
MSCI Global All Cap Indexes: There will be no additions to and no deletions from the MSCI World All Cap Index.
MSCI Frontier Markets Indexes: There will be no additions to and no deletions from the MSCI Frontier Markets
and MSCI Frontier Markets Small Cap Indexes.
MSCI Global Islamic Indexes: Sixty‐four securities will be added to and 25 securities will be deleted from theMSCI ACWI Islamic Index. The three largest additions to the MSCI ACWI Islamic Index measured by full company
market capitalization will be Petrochina Co A (China), Metronic PLC (USA) and China Petroleum and Chemical
Corp (China). There will be two additions to and no deletions from the MSCI Gulf Cooperation Council (GCC)
Countries ex Saudi Arabia IMI Islamic Index.

1

Foreign Inclusion Factor
Additions to the MSCI China Indexes, including A shares will be cancelled if they are suspended on the day prior to the effective
implementation date of the August 2018 Quarterly Index Review.
2

PRESS RELEASEMSCI US Equity Indexes: There will be one security added to and three securities deleted from the MSCI USLarge Cap 300 Index. The addition to the MSCI US Large Cap 300 Index will be Align Technology.
Four securities will be added to and one security will be deleted from the MSCI US Mid Cap 450 Index. The
three largest additions to the MSCI US Mid Cap 450 Index measured by full company market capitalization will
be Viacom B, Wayfair A and Nielsen Holdings Plc.
No securities will be added to and one security will be deleted from the MSCI US Small Cap 1750 Index.
There will be no additions to and no deletions from the MSCI US Micro Cap Index.
For the MSCI US Investable Market Value Index and the MSCI US Investable Market Growth Index, there will beno changes in Value Inclusion Factors (VIF) or Growth Inclusion Factors (GIF).
MSCI US REIT Index: There will be no additions to and no deletions from the MSCI US REIT Index.
MSCI China All Shares Indexes: There will be 13 additions to and no deletions from the MSCI China All Shares
Index. The three largest additions by full company market capitalization to the MSCI China All Shares Index willbe China Shenhua A, China United Network A and Hengli Petrochemical A. There will be no additions to andnine deletions from the MSCI China All Shares Small Cap Index.
MSCI China A Onshore Indexes: There will be five additions to and three deletions from the MSCI China AOnshore Index. The three largest additions to the MSCI China A Onshore Index by full company market
capitalization will be ZTE Corporation A, China Enterprise A and Jiangsu Yangnong Chemical A. There will bethree additions to and eight deletions from the MSCI China A Onshore Small Cap Index.

‐Ends‐About MSCIFor more than 40 years, MSCI’s research‐based indexes and analytics have helped the world’s leading investors build andmanage better portfolios. Clients rely on our offerings for deeper insights into the drivers of performance and risk in theirportfolios, broad asset class coverage and innovative research.
Our line of products and services includes indexes, analytical models, data, real estate benchmarks and ESG research.
MSCI serves 99 of the top 100 largest money managers, according to the most recent P&I ranking.
For more information, visit us at www.msci.com.

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