Doha: Global index provider FTSE Russell will now include Baladna, Doha Insurance Group and Qatar Industrial Manufacturing under its micro cap category, FTSE Russell has announced in its Global Equity Index Series September 2021 Semi-Annual Index Review on August 20, according to the Qatar Stock Exchange (QSE) website.
The QSE stated the addition of three new Qatari companies into the index of micro capital, including Baladna, Doha Insurance Group and Qatar Industrial Manufacturing. The changes will be effective on closing of September 16, 2021. It also stated the reclassification of Qatar Fuel and Qatar Electricity & Water Company from large capital to middle capital index. Inclusion of companies to these global indices helps in boosting inflow of foreign funds and companies usually witness significant activity on their shares.
The FTSE Global Equity Index Series covers securities in 49 different countries and is divided into Developed, Advanced Emerging and Secondary Emerging segments. The series represents the broadest global equity universe, targeting coverage of over 99 percent of investable market cap globally.
The companies’ inclusion and reclassification in global indices are subject to various criteria, the most important of which are the size of the company’s investable capital and market capitalisation, liquidity and turnover rates.
The FTSE emerging markets index is one of the indexes of the global “FTSE” indices and funds that mainly target most emerging market exchanges, and this index is of importance by global funds and portfolios due to the major investments it holds for the largest international banks and companies. The index has many European, British and international funds and portfolios.
