"As beyondbrics reported on Tuesday, index provider MSCI has rejigged its emerging market classifications. The headline grabber is that Greece has been put into the emerging market group. Up from frontier to emerging status come the UAE and Qatar. Morocco was relegated back to the frontier group.
It’s embarrassing for Greece and an overdue vote for the UAE and Qatar. But how much of a difference will it make? Potentially, quite a lot, actually.
Although there was a quick boost to local stock markets in the UAE and Qatar, the first thing to note is that the upgrades have been under review for a long time, so the decision is not a complete curveball. Also, the upgrade doesn’t take place until 2014 – plenty of time for discretionary asset managers to evaluate and shift funds over time."
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