New York – February 18, 2009 - MSCI Barra (NYSE:MXB), a leading provider of investment decision support tools worldwide, including indices and portfolio risk and performance analytics, announced today the conclusions from its recent consultation with the investment community on the market classification of Argentina. MSCI Barra also announced today that it will begin consultations with the investment community on a proposal to include the MSCI Pakistan Index in the MSCI Frontier Markets Index.
As a result of the continued restrictions to in- and outflows of capital in the Argentinean equity market, MSCI Barra will reclassify the MSCI Argentina Index from the MSCI Emerging Markets Index to the MSCI Frontier Markets Index at the end of May 2009 to coincide with the May 2009 Semi-Annual Index Review. In addition, MSCI Barra
will consider only American Depositary Receipts (ADRs) of Argentinean companies as eligible securities for inclusion in the MSCI Argentina Index.
MSCI Barra now opens a consultation with the investment community on a proposal to include the MSCI Pakistan Index in the MSCI Frontier Markets Index at the end of May 2009 to coincide with the May 2009 Semi-Annual Index Review. As a reminder, the MSCI Pakistan Index was removed from the MSCI Emerging Markets Index at the end of December 2008 following the deteriorated investability conditions prevailing in the Pakistani equity market. The MSCI Pakistan Index is currently a stand-alone index. Following the removal of the “floor rule” by the Karachi Stock Exchange trading activities have progressively recovered. The proposal for the MSCI Pakistan Index to join the MSCI Frontier Markets Index is based on the recent record of limited accessibility of the market as well as the fact that the MSCI Pakistan Index no longer meets the size requirements set for Emerging Markets.
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