NEW YORK, Aug 18 (PRIME) -- U.S. index provider S&P Dow Jones Indices has kept Russian companies in its indices, the agency said in a statement on Monday.
On July 31, the agency started consultations with its clients on whether to keep Russian in its indices, and based on the opinion poll and its own research the agency decided that the Russian legislation provides enough public notification on the companies’ new share issues for the agency to be able to change its indices if needed.
Major investors, including funds, are investing in consolidated stock indices, in which Russian stocks are presented. To Russian issuers the funds come also through the passive funds, which automatically follow the MSCI and Dow Jones, but if Russian stocks are excluded from the indices, they will be automatically sold by the investors.
U.K. indices provider FTSE has said it kept the shares of Russia’s Sberbank and VTB after negotiations with investors and market participants, while U.S. MSCI Barra decided to keep shares of the banks in early August, both agencies saying that they can revise the decision if the banks announce new share issues.
End
|
|
