MSCI Barra (NYSE: MXB), a leading provider of investment decision support tools worldwide, including indices and portfolio risk and performance analytics, has announced that it is expanding the MSCI Global Islamic Indices family by extending Emerging Markets coverage to include the Small Cap size segment, and by adding coverage of 16 Frontier Markets countries, increasing the number of MSCI Islamic country indices from 53 to 69.
The resulting new indices will be available starting December 2, 2008, and include the MSCI Emerging Markets Islamic Investable Market Index and the MSCI Gulf Cooperation Council (GCC) Countries Islamic Investable Market Index.
“Demand for Islamic indices continues to grow as Islamic investors look for ways to broaden their global exposure,” said Remy Briand, Managing Director and Global Head of Index Research at MSCI Barra. “The expansion of the MSCI Global Islamic Indices to cover Emerging Markets Small Cap and Frontier Markets countries offers institutional investors deeper coverage of the Islamic investment opportunity set. As with all our indices, our primary goals are to ensure that they continue to reflect the ever changing global equity markets, and to provide our clients with relevant indices which may be used for benchmarking and as the basis for index linked products.”
The calculation of the new indices will start on November 26, 2008. The new indices will be added to the MSCI Equity Index products on December 2, 2008. History for the new MSCI Emerging Markets Islamic Small Cap Indices, MSCI Emerging Markets Islamic Investable Market Indices, and MSCI Frontier Markets Islamic Indices will be calculated back to June 2002, and will be made available by March 31, 2009.