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19 December 2019

MSCI to upgrade Boursa Kuwait to emerging market status in 2020

The upgrade of Kuwaiti equities to MSCI Emerging-Market status is expected to trigger $2.8 billion of inflows from passive funds.

Bloomberg/Phil Weymouth

by Kudakwashe Muzoriwa

MSCI said that it will reclassify the MSCI Kuwait Indexes to Emerging Markets status as part of the May 2020 semi-annual index review in one step as the Kuwaiti equity market now meets all the necessary requirements.

Sebastien Lieblich, the Global Head of Index Solutions and Chairman of the MSCI Equity Index Committee, said, “We welcome the latest market accessibility enhancements introduced by the Kuwaiti authorities that now allow international institutional investor to benefit from omnibus account structures and same NIN cross-trade capabilities.”

In October 2019, the Kuwait Capital Market Authority (CMA) said that it issued resolutions, amending some provisions of the executive bylaws and rules related to the implementation of omnibus accounts and same National Investor Number (NIN) cross trades.

“Kuwait’s addition adds further diversification to the MSCI Emerging Markets Index with an estimated weight of 0.69 per cent,” said Lieblich.

MSCI is the world's largest index provider, whose emerging-market group of indexes has about $1.8 trillion of assets tied to it.

RELATED STORIES: Emerging Markets Capital Market Authority Boursa Kuwait MSCI





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