DUBAI, Dec 19 (Reuters) - MSCI Inc said late on Wednesday it will reclassify the MSCI Kuwait Indexes to emerging markets as the Kuwaiti equity market had met all the necessary requirements.
Sebastien Lieblich, Global Head of Index Solutions and Chairman of the MSCI equity index committee said: "Kuwait's addition adds further diversification to the MSCI Emerging Markets Index with an estimated weight of 0.69%."
The index compiler will include the MSCI Kuwait index in the Emerging Market Index in the May 2020 semi-annual index review.
"We welcome the latest market accessibility enhancements introduced by the Kuwaiti authorities that now allow international institutional investors to benefit from omnibus account structures and same National Investor Number (NIN) cross trade capabilities," added 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. (Writing by Tuqa Khalid; Editing by Muralikumar Anantharaman)