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October 2010

Moving backwards in time…Removing KSA from MSCI GCC Index

Date : 21/10/2010 Author: M.R. Raghu & Humoud Al Sabah

A New era of protectionism or a vital market stabilizer clause?

The other day someone asked about the probability and time frame within which GCC countries (especially Saudi Arabia) are likely to be included in the MSCI EM index, the most widely followed emerging market index in the world. However, what happened recently is quite the contrary to this expectation. MSCI decided to discontinue Saudi Arabia in its MSCI GCC index effective September 2010. This sent fund managers in a tailspin as they now have to replace their benchmarks with S&P GCC index.

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