Results of MSCI Russia 10/40 semi-annual rebalancing to be unveiled after closing on Nov 24
MOSCOW. Nov 22 (Interfax) - The results of the semi-annual rebalancing of the MSCI Russia 10/40 index will be announced after the close of trading on November 24, VTB Capital analyst Ilya Pitersky told Interfax.
The MSCI Russia 10/40 is based on the MSCI Russia Standard. The results of the MSCI Russia Standard index's rebalancing were announced after close of trading on November 14.
All changes take effect on December 1.
Index provider MSCI decided ahead of the November rebalancing of its indices to increase the weight of Russian food retailer Magnit by 57 basis points to 7.38% after raising its foreign inclusion factor (FIF) to 0.65 from 0.6, effective after the close of trading on November 11. The change in the FIF followed the sale of 1.3% of shares in Magnit in an accelerated book-build by minority shareholder Vladimir Gordeichuk.
The increase of Magnit's weight significantly reduces the risk that gas producer Novatek will push the retailer out of the top four "heavyweights" in the next review of the MSCI Russia 10/40 Index, VTB Capital's Pitersky said at the time.
MSCI dropped MegaFon GDRs from the MSCI Russia as the result of its last semi-annual rebalancing, but added shares in Inter RAO .