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MSCI Small Cap Indexes List of Additions/Deletions

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Geneva, May 12, 2020 MSCI GLOBAL SMALL CAP INDEXES The following are changes in constituents for the MSCI Global Small Cap Indexes which will take place as of the close of May 29, 2020. SUMMARY PER COUNTRY and PER REGION: Nb of Nb of Securities Securities Region Country Added Deleted Asia Pacific PAKISTAN 2 2 AUSTRALIA 14 13 JAPAN 42 37 HONG KONG 5 8 SINGAPORE 9 2 NEW ZEALAND 3 3 MALAYSIA 7 10 INDONESIA 10 14 PHILIPPINES 3 3 TAIWAN 13 3 KOREA 22 46 THAILAND 1 16 INDIA 18 54 CHINA 36 33 Nb of Nb of Securities Securities Region Country Added Deleted Europe, Middle East and Africa GREECE 4 0 UNITED ARAB EMIRATES1 3 QATAR 3 1 BELGIUM 0 2 SWITZERLAND 3 5 DENMARK 2 2 SPAIN 2 2 FRANCE 4 5 GERMANY 2 6 NETHERLANDS 2 2 ITALY 2 5 NORWAY 4 11 SWEDEN 13 9 UNITED KINGDOM 19 28 FINLAND 3 0 TURKEY 1 1 IRELAND 3 0 ISRAEL 7 1 SOUTH AFRICA 8 21 POLAND 5 2 CZECH REPUBLIC 0 1 RUSSIA 1 2 EGYPT 2 2 SAUDI ARABIA 2 1 Nb of Nb of Securities Securities Region Country Added Deleted Americas USA 133 134 CANADA 17 36 MEXICO 2 9 CHILE 1 2 BRAZIL 8 4 COLOMBIA 1 2 ARGENTINA 2 1 Page 1 MSCI Global Small Cap Indexes - May 12, 2020 © MSCI 2020, All rights reserved ASIA PACIFIC MSCI PAKISTAN INDEX Additions Deletions MARI PETROLEUM NISHAT MILLS PAKISTAN PETROLEUM SUI NORTH GAS PIPELINES MSCI AUSTRALIA INDEX Additions Deletions ALUMINA AFTERPAY AUB GROUP AMA GROUP BENDIGO & ADELAIDE BANK ARDENT LEISURE GROUP BORAL EVOLUTION MINING CHALLENGER FLEXIGROUP CHAMPION IRON GALAXY RESOURCES DATA 3 MYER HOLDINGS FLIGHT CENTRE TRAVEL GRP NAVIGATOR GLOBAL INV HARVEY NORMAN HOLDINGS NORTHERN STAR RESOURCES INCITEC PIVOT LTD SENEX ENERGY INTEGRAL DIAGNOSTICS SEVEN WEST MEDIA LIFESTYLE COMMUNITIES VIRTUS HEALTH LTD TYRO PAYMENTS WPP AUNZ WORLEY MSCI JAPAN INDEX Additions Deletions AEON FINANCIAL SERVICE ATEAM AEON HOKKAIDO CORP BANK OF SAGA (THE) AI INSIDE COSMOS PHARMACEUTICAL ALPHA SYSTEMS DIGITAL HEARTS HOLDINGS ALPS ALPINE CO FUJITA KANKO CHATWORK GENKI SUSHI CO CRE LOGISTICS GLP J REIT CREDIT SAISON CO GUNOSY DAI-ICHI SEIKO CO HINOKIYA GROUP CO DAITO PHARMACEUTICAL CO ICHIYOSHI SECURITIES CO DKS CO ISTYLE EBASE CO ITO EN FREEE K K JAMCO CORP GIFTEE JAPAN CASH MACHINE CO GRACE TECHNOLOGY KASAI KOGYO CO HEROZ KOBE BUSSAN CO IHI CORP KYOKUTO SECURITIES ITOCHU ADVANCE LOGISTICS LASERTEC CORP J FRONT RETAILING MITSUBA CORP JMDC MIURA CO JTOWER NAKAYAMA STEEL WORKS KONICA MINOLTA NIHON M&A CENTER LITALICO NIHON TOKUSHU TORYO CO MAXVALU TOKAI CO NIPPON CHEMI-CON CORP MEDLEY NIPPON DENKO CO MITSUI OSK LINES NISHIMOTO NICHIREKI CO OHARA NIPPON FINE CHEMICAL CO PEPPER FOOD SERVICE SANKYO CO RENAISSANCE SERVERWORKS ROLAND DG CORP SHINKO SHOJI CO SACS BAR HOLDINGS SOSILA LOGISTICS REIT SCSK CORP TACHIBANA ELETECH CO TAIHO KOGYO CO TAIKO PHARMACEUTICAL CO TANAKA CHEMICAL CORP TAKI CHEMICAL CO TIS TOYO GOSEI CO TOHO ZINC CO TOYO SEIKAN GROUP HLDGS TOKYO BASE CO TV TOKYO HOLDINGS CORP UCHIDA & YOKO CO WEATHERNEWS WEST HOLDINGS CORP ZUKEN MSCI HONG KONG INDEX Additions Deletions Page 2 MSCI Global Small Cap Indexes - May 12, 2020 © MSCI 2020, All rights reserved FORTUNE REAL ESTATE (HK) AGRITRADE RESOURCES HONG KONG TV NETWORK ESPRIT HOLDINGS STELLA INTERNATIONAL I.T VITASOY INTL HOLDINGS LANDING INTL DEV (HK) YUE YUEN INDUSTRIAL NEWOCEAN ENERGY HLDGS REGINA MIRACLE INTL HLDG SINGAMAS CONTAINER HLDGS TEXWINCA HOLDINGS MSCI SINGAPORE INDEX Additions Deletions AIMS APAC REIT MGMT EAGLE HOSPITALITY TRUST ASCENDAS INDIA TRUST MAPLETREE LOGISTICS COMFORTDELGRO CROMWELL EUROPEAN REIT KEPPEL PACIFIC OAK REIT LENDLEASE GLOBAL COMM SATS SEMBCORP INDUSTRIES SINGAPORE PRESS HLDG MSCI NEW ZEALAND INDEX Additions Deletions FLETCHER BUILDING NEW ZEALAND REFINING CO NAPIER PORT HOLDINGS SKY NETWORK TELEVISION OCEANIA HEALTHCARE TOURISM HOLDINGS MSCI MALAYSIA INDEX Additions Deletions AIRASIA GROUP BERJAYA CORPORATION AXIS REIT BUMI ARMADA BIMB HOLDINGS ECO WORLD INTERNATIONAL GUAN CHONG HENGYUAN REFINING CO IOI PROPERTIES GROUP HIBISCUS PETROLEUM LOTTE CHEMICAL TITAN MUHIBBAH ENGINEERING MEGA FIRST CORP PETRON MALAYSIA REF&MKT POS MALAYSIA SUNWAY WCT HOLDINGS MSCI INDONESIA INDEX Additions Deletions ASTRA AGRO LESTARI ADHI KARYA TBK BANK TABUNGAN NEGARA ALAM SUTERA REALTY BINTANG OTO GLOBAL ALFA ENERGI INVESTAMA BUKIT ASAM BUMI RESOURCES BUMI SERPONG DAMAI GLOBAL MEDIACOM JASA MARGA (PERSERO) INDIKA ENERGY TBK PT NUSANTARA PROPERTI INTL KRAKATAU STEEL PABRIK K TJIWI KIMIA KRESNA GRAHA SEKURINDO PACIFIC STRATEGIC FINL PP PROPERTI PAKUWON JATI RIMO INTL LESTARI SENTUL CITY SRI REJEKI ISMAN TIMAH TUNAS BARU LAMPUNG MSCI PHILIPPINES INDEX Additions Deletions ALLHOME CORP EAST WEST BANKING CORP DMCI HOLDINGS MACROASIA SECURITY BANK CORP MEGAWIDE CONSTRUCTION MSCI TAIWAN INDEX Additions Deletions ADLINK TECHNOLOGY CAYMAN ENGLEY INDL ALCHIP TECHNOLOGIES QST INTERNATIONAL CORP ASROCK SILERGY CORP EPISIL PRECISION Page 3 MSCI Global Small Cap Indexes - May 12, 2020 © MSCI 2020, All rights reserved GLOBAL LIGHTING TECH GOLD CIRCUIT ELECTRONICS HOTAI FINANCE INNODISK CORP LITE-ON SEMICONDUCTOR MARKETECH INTL CORP ONENESS BIOTECH RUENTEX INDUSTRIES TAISUN ENTERPRISE CO MSCI KOREA INDEX Additions Deletions BODITECH MED ASIA CEMENT CO (NEW) CELLIVERY THERAPEUTICS CELLTRION PHARM DOOSAN CORP CJ FRESHWAY CORP DOOSAN FUEL CELL DAEHWA PHARM CO DOOSAN SOLUS DTR AUTOMOTIVE CORP EONE DIAGNOMICS GENOME DUZONBIZON CO GENEONELIFESCIENCE E1 CORP HANWHA LIFE INSURANCE EASY BIO HANWHA SYSTEMS HANCOM INC HDC HYUNDAI DEV (NEW) HANJIN KAL CORP HFR HANWHA GENERAL INSURANCE ITM SEMICONDUCTOR HY-LOK CORP KCC CORP HYOSUNG HEAVY INDUSTRIES L&C BIO HYUNDAI LIVART CO LEMON INBODY CO LOTTE REIT INSCOBEE MEDPACTO JUSUNG ENGINEERING CO MEDY-TOX KCC GLASS OCI COMPANY KOLON CORP OE SOLUTIONS KOREA ASSET IN TRUST SHIN POONG PHARMA CO KOREA INFO & COMMU ZINUS KUMHO INDUSTRIAL CO KYOBO SECURITIES CO LOTTE NON-LIFE INS CO MEERECOMPANY MODETOUR NETWORK MOORIM P&P CO MUHAK CO NAMYANG DAIRY PRODUCTS NASMEDIA NEXEN CORP NS SHOPPING PHARMABCINE SAMCHULLY CO SAMPYO CEMENT CO SEJONG TELECOM SHINSEGAE FOOD CO SINDOH CO SSANGYONG MOTOR CO SUNGWOO HITECH CO TAIHAN FIBEROPTICS TEGO SCIENCE WHANIN PHARMACEUTICAL WONIK MATERIALS Y G-1 CO YUYANG D&U CO MSCI THAILAND INDEX Additions Deletions BANPU ANANDA DEVELOPMENT BEAUTY COMMUNITY BEC WORLD ERAWAN GROUP (THE) GLOBAL GREEN CHEMICALS ITALIAN THAI DEVELOPMENT LPN DEVELOPMENT PUBL CO PLATINUM GROUP (THE) PRECIOUS SHIPPING PUB CO SIAM GLOBAL HOUSE PCL SVI PCL THORESEN THAI AGENCIES Page 4 MSCI Global Small Cap Indexes - May 12, 2020 © MSCI 2020, All rights reserved U CITY UNIQUE ENGR & CONST UNIVENTURES PUBLIC CO WORKPOINT ENTERTAINMENT MSCI INDIA INDEX Additions Deletions AMBER ENTERPRISES INDIA ADANI TRANSMISSION ASHOK LEYLAND ARVIND FASHIONS BHARAT HEAVY ELECTRICALS ASHOKA BUILDCON CHOLAMANDALAM INV & FIN BEML CREDITACCESS GRAMEEN BIRLASOFT CUMMINS INDIA KIRLOSKAR BOMBAY STOCK EXCHANGE DIXON TECHNOLOGIES INDIA BRIGADE ENTERPRISES EMAMI CAPLIN POINT LABS FUTURE RETAIL (NEW) CENTURY PLYBOARDS INDIA GMM PFAUDLER CHALET HOTELS INDIAMART INTERMESH CHENNAI PETROLEUM CORP J.B. CHEMICALS & PHARMA DISH TV INDIA M & M FINANCIAL SVCS DISHMAN CARBOGEN AMCIS MISHRA DHATU NIGAM ECLERX SERVICES NIPPON LIFE INDIA AST EQUITAS HOLDINGS RELAXO FOOTWEARS FIRSTSOURCE SOLUTIONS SHRIRAM TRANSPORT FIN FUTURE CONSUMER TATA POWER CO GE T&D INDIA GREAVES COTTON GUJARAT ALKALIES & CHEM GUJARAT NARMADA FERT HFCL HIMADRI SPECIALITY CHEM IFB INDUSTRIES INDRAPRASTHA GAS IPCA LABORATORIES J.K. LAKSHMI CEMENT JAMMU & KASHMIR BANK JINDAL SAW JUBILANT FOODWORKS KARNATAKA BANK KPIT TECHNOLOGIES (NEW) LA OPALA RG LEMON TREE HOTELS MAHARASHTRA SCOOTERS NAGARJUNA CONSTRUCTION PFIZER INDIA PHILLIPS CARBON BLACK POWER FINANCE CORP PRISM JOHNSON PTC INDIA RAIN INDUSTRIES RAYMOND REPCO HOME FINANCE SADBHAV ENGINEERING SHOPPERS STOP SONATA SOFTWARE SOUTH INDIAN BANK STERLING AND WILSON SUPRAJIT ENGINEERING TATA CONSUMER PRODUCTS VENKY'S INDIA WELSPUN CORP ZENSAR TECHNOLOGIES MSCI CHINA INDEX Additions Deletions 111 INC ADR 500.COM ADR BEIJING JINGNENG CLEAN H AJISEN CHINA HLDGS CHINA BESTSTUDY EDU AK MEDICAL HOLDINGS CHINA KEPEI EDUCATION ANTON OILFIELD SVCS GRP CHINA MACHINERY ENGR H AURORA MOBILE A ADR CHINA MERCH COMM REIT BESTWAY GLOBAL HOLDINGS CHINA RENAISSANCE HLDG CANSINO BIOLOGICS H CHINA ZHONGWANG HOLDINGS CHEETAH MOBILE A ADR CIMC VEHICLES (GROUP) H CHINA FIRST CAPITAL GRP Page 5 MSCI Global Small Cap Indexes - May 12, 2020 © MSCI 2020, All rights reserved COSMOPOLITAN INTL (CN) CHINA INDEX HLDGS A ADR DONGJIANG ENVIRONMENT H CHINA LNG GROUP (CN) E-HOUSE (CHINA) ENT HLDG CHINA OVERSEAS PPTY HLDG GR PROPERTIES (CN) CHINA YUHUA EDUCATION GREENTREE HPTY GRP A ADR COGOBUY GROUP HAINAN MEILAN INTL H DAWNRAYS PHARMA HLDGS HOMELAND INTERACTVE TECH GCL NEW ENER HLDGS (CN) HUIJING HOLDINGS GOODBABY INTL (CN) IDREAMSKY TECH HLDGS HC GROUP JIUMAOJIU INTL HLDGS HONGHUA GROUP JY GRANDMARK HOLDINGS JIANPU TECHNOLOGY A ADR KAISA PROSPERITY HLDGS KASEN INTL HLDGS LUCKIN COFFEE A ADR NAM TAI PROPERTY MAOYAN ENTERTAINMENT OZNER WATER INTL HOLDING NEXTEER AUTOMOTIVE GRP PHOENIX MEDIA INV (CN) NIU TECHNOLOGIES A ADR RISE EDU CAYMAN ADR POWERLONG COMM MGMT HLDG SINOSOFT TECHNOLOGY GRP RENRUI HUMAN RES TECH SO YOUNG INTL A ADR SHANGHAI KINDLY MED H TIAN GE INTERACTIVE HLDG SICHUAN LANGUANG JUSTB H TIANJIN DEVELOPMENT TIMES NEIGHBORHOOD HLDGS TSAKER CHEMICAL GROUP TOWNGAS CHINA CO VINDA INTL HOLDINGS(CN) UXIN ADR A X FINANCIAL ADR A VENUS MEDTECH HANGZHOU H XIAMEN INTL PORT CO H WEIMOB XIABUXIABU CATERING MGMT XINJI SHAXI GROUP EUROPE, MIDDLE EAST AND AFRICA MSCI GREECE INDEX Additions Deletions ALPHA BANK None EUROBANK HOLDINGS NATIONAL BANK OF GREECE TITAN
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    2 FTSE Russell Publications 19 August 2021 FTSE 250 Indicative Index Weight Data as at Closing on 30 June 2021 Index weight Index weight Index weight Constituent Country Constituent Country Constituent Country (%) (%) (%) 3i Infrastructure 0.43 UNITED Bytes Technology Group 0.23 UNITED Edinburgh Investment Trust 0.25 UNITED KINGDOM KINGDOM KINGDOM 4imprint Group 0.18 UNITED C&C Group 0.23 UNITED Edinburgh Worldwide Inv Tst 0.35 UNITED KINGDOM KINGDOM KINGDOM 888 Holdings 0.25 UNITED Cairn Energy 0.17 UNITED Electrocomponents 1.18 UNITED KINGDOM KINGDOM KINGDOM Aberforth Smaller Companies Tst 0.33 UNITED Caledonia Investments 0.25 UNITED Elementis 0.21 UNITED KINGDOM KINGDOM KINGDOM Aggreko 0.51 UNITED Capita 0.15 UNITED Energean 0.21 UNITED KINGDOM KINGDOM KINGDOM Airtel Africa 0.19 UNITED Capital & Counties Properties 0.29 UNITED Essentra 0.23 UNITED KINGDOM KINGDOM KINGDOM AJ Bell 0.31 UNITED Carnival 0.54 UNITED Euromoney Institutional Investor 0.26 UNITED KINGDOM KINGDOM KINGDOM Alliance Trust 0.77 UNITED Centamin 0.27 UNITED European Opportunities Trust 0.19 UNITED KINGDOM KINGDOM KINGDOM Allianz Technology Trust 0.31 UNITED Centrica 0.74 UNITED F&C Investment Trust 1.1 UNITED KINGDOM KINGDOM KINGDOM AO World 0.18 UNITED Chemring Group 0.2 UNITED FDM Group Holdings 0.21 UNITED KINGDOM KINGDOM KINGDOM Apax Global Alpha 0.17 UNITED Chrysalis Investments 0.33 UNITED Ferrexpo 0.3 UNITED KINGDOM KINGDOM KINGDOM Ascential 0.4 UNITED Cineworld Group 0.19 UNITED Fidelity China Special Situations 0.35 UNITED KINGDOM KINGDOM KINGDOM Ashmore
  • A Potential Driver for Colombian Growth

    A Potential Driver for Colombian Growth

    Venezuela - A Free Option for Colombian Corporate Growth April 29, 2019 Venezuela – A Free Option for Colombian Corporate Growth Venezuela was once the second most important destination of Colombian exports after the United States, representing around 17% of our exports in 2007-2008. However, the economic situation of our neighbor led Colombian companies to stop trading, given the hard times for currency repatriation and payments. Since January 2019, this country is facing a political turmoil after Juan Guaidó, president of the Venezuelan National Assembly, proclaimed himself interim president. The political uncertainty of the neighboring country peaked after dozens of countries backed Guiadó as interim president of Venezuela, including the US and the European Union, opening the door for a political transition that leads us to deeply analyze the effects for the Colombian market. A Venezuela turnaround story will be a watershed moment for the Colombian economy. Colombian GDP could be boosted by 0.8% per year, without considering the potential expansion of Colombian corporations. Most sectors would benefit, and many companies listed on the BVC would have a growth free option if the Venezuelan economy recovers. On this front, Grupo Nutresa, Avianca Holdings, Fabricato, Enka, and Cementos Argos would be on the positive side of the equation since they had a direct or indirect operation in Venezuela. This doesn’t mean they are the only ones: infrastructure, utilities, textiles, food, and retail could take the lead to recover the industrial production of a country which vastly lacks investment. Additionally, financial institutions would benefit from a potential growth in loans to companies that would expand its footprint to Venezuela.