STANDARD ANNOUNCEMENTS - October 11, 2022 at 08:40 PM GMT 
Announcement for October 11, 2022 at 08:40 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

DETAILS ON THE TRANSITION OF MSCI INDEXES TO A QUARTERLY COMPREHENSIVE INDEX REVIEW SCHEDULE

MSCI announced today the details on the transition of the MSCI Global Investable Market Indexes (GIMI) to a Quarterly Comprehensive Index Review (QCIR) schedule, which will commence as part of the February 2023 Index Review.

As a reminder, following positive feedback from market participants on the Consultation on Introducing QCIRs for MSCI GIMI, on June 28, 2021, MSCI announced that it will introduce a QCIR schedule for the MSCI GIMI.

Beginning in February 2023, MSCI will apply the index maintenance methodology currently used at the May and November Semi-Annual Index Reviews. Exceptionally, Number of Shares (NOS) and Foreign Inclusion Factors (FIF) will continue to be reviewed based on current methodology until May 2023.  At that time, all NOS and FIF will be fully reviewed up to the Price Cutoff Date at each subsequent QCIR.

Additionally, and as announced on July 6, 2022, indexes based on the following methodologies will also be rebalanced on a quarterly basis beginning with the February 2023 Index Review.
- MSCI Adaptive Capped Indexes Methodology
- MSCI Equal Country Weighted Indexes Methodology
- MSCI Equal Sector Weighted Indexes Methodology
- MSCI Size Tilt Indexes Methodology

The frequency of Business Screening Review for the MSCI Islamic Indexes Methodology will also change from annual (May) to quarterly starting in February 2023.

In conjunction with the move to QCIR, all references to "Semi-Annual Index Reviews" and "Quarterly Index Reviews" in relevant MSCI public documentation will be replaced with "Index Reviews". A technical communication was sent to clients on September 13, 2022, describing the impact of this change.

A detailed Q&A document is also now available on https://www.msci.com/index-consultations to provide further details on the transition with respect to the MSCI GIMI, MSCI Non-Market Capitalization Weighted Indexes and MSCI Custom Indexes. MSCI will also discuss these changes as part of the regular Highlights of the November 2022 Semi-Annual Index Review webinar. Updated methodology books to account for the changes will be published in due course.

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.