MSCI adds Fauji Cement, DG Khan, Maple Leaf to Frontier Index

May 14, 2025 (MLN):  MSCI Inc. (NYSE: MSCI), a global provider of critical investment decision tools has added Fauji Cement, DG Khan Cement, and Maple Leaf Cement to its Frontier Markets Index, making Pakistan the biggest gainer in this round of index rebalancing, with three additions and no deletions.

In the Frontier Markets Small Cap Index, four Pakistani companies have been added that include Archroma Pakistan, AT-Tahur, Engro Polymer & Chemicals, and Pakistan Reinsurance.

Meanwhile, AGP, Agritech, and DG Khan Cement have been removed, with the latter moving up to the main index.

The changes, effective May 30, 2025, are part of MSCI’s semi-annual review.

Pakistan’s net gain of six companies across both indexes puts it ahead of other frontier peers. Morocco and Vietnam followed with three and two additions, respectively, in the main index.

Notably, the reshuffle boosts Pakistan’s representation in the broader frontier universe, with the cement sector leading the charge, which reflects the improving investor sentiment and expectations of a construction-led recovery.

MSCI Global Standard Indexes

Thirty securities will be added to and 61 securities will be deleted from the MSCI ACWI Index.

The three largest additions to the MSCI World Index measured by full company market capitalization will be Ryanair Holdings (Ireland), Sigma Healthcare (Australia) and International Airlines Group (Spain).

The three largest additions to the MSCI Emerging Markets Index measured by full company market capitalization will be ADNOC Gas (United Arab Emirates), Dubai Electricity & Water Authority (United Arab Emirates) and Sichuan Biokin Pharmaceutical A (HK-C) (China).

MSCI Global Small Cap Indexes

There will be 147 additions to and 201 deletions from the MSCI ACWI Small Cap Index.

MSCI Global Investable Market Indexes

There will be 123 additions to and 208 deletions from the MSCI ACWI Investable Market Index (IMI).

MSCI Global All Cap Indexes

There will be 98 additions to and 108 deletions from the MSCI World All Cap Index.

MSCI Frontier Markets Indexes 

There will be twelve additions to and three deletions from the MSCI Frontier Markets Index.

The three largest additions to the MSCI Frontier Markets Index measured by full company market capitalization will be Tien Phong Commercial (Vietnam), Credit Du Maroc (Morocco) and Sonasid (Morocco).

There will be 16 additions to and eight deletions from the MSCI Frontier Markets Small Cap Index.

In light of currently observed market accessibility issues, MSCI will continue to not implement changes as part of this Index Review for any securities classified in Bangladesh for the MSCI Bangladesh Indexes or impacted composite indexes.

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