MSCI Indices 2012 Performance Results

MSCI Indices 2012 Performance Results

Global Equity Markets Rebound in 2012—Overcoming 2011 Losses

  • Global markets posted significant positive returns, largely in the double digits
  • Emerging Markets and the EMU showed strong relative performance
  • Small caps outpaced large and mid caps across most regions and countries

LONDON--(BUSINESS WIRE)-- MSCI Inc. (NYSE: MSCI  ) , a leading provider of investment decision support tools worldwide, today published the year-to-date (YTD) 2012 performance of its MSCI Indices, revealing a vigorous rebound in global equity markets, following the global slowdown experienced in 2011.

Major financial markets worldwide showed healthy double digit returns across all size segments for 2012. The MSCI ACWI Investable Market Index (IMI), comprised of close to 9,000 large, mid and small cap securities across 24 Developed and 21 Emerging Markets countries, for example, delivered a 2012 YTD return of 13.45% versus a loss of -9.87% in 2011.

The MSCI ACWI Small Cap Index bested all other MSCI ACWI index capitalization segments for 2012 YTD, with a return of 15.17% versus returns of 14.21% and 12.99% over the period for the MSCI ACWI Mid Cap and Large Cap Indices, respectively.

MSCI ACWI IMI/Financials outperformed all other global sectors, returning 24.13% for 2012 YTD. Laggard sectors included the MSCI ACWI IMI/Telecommunications Services and MSCI ACWI IMI/Utilities which returned 4.29% and -0.71% for the period.

Developed Markets

Nearly the entire range of country and regional MSCI Developed Markets (DM) Indices delivered strong positive returns for 2012 YTD. The two main MSCI DM flagship indices—the MSCI World Index and MSCI EAFE—returned 13.00% and 13.96%, respectively, while even higher returns prevailed in many European countries and regions. The MSCI EMU and Europe Indices, for example, delivered 2012 YTD returns of 18.34% and 15.87%. The highest DM country performers were all European: the MSCI Belgium Index was at the top, returning 37.58% for 2012 YTD, followed by the MSCI Denmark and Germany Indices, with returns of 30.32% and 28.12%, respectively. The only three DM countries with negative returns for 2012 YTD were the MSCI Spain, Greece and Israel Indices which produced losses of -1.90%, -2.53% and -6.95%, respectively.

The MSCI DM Small Cap Indices outperformed their mid and large cap counterparts across the majority of countries and regions for 2012 YTD. The MSCI Europe Small Cap Index returned 25.76% (nearly 10% more than the MSCI Europe Index), for example, while the MSCI World Small Cap Index produced a return of 14.75% over the period.

Emerging Markets

The MSCI Emerging Markets (EM) Indices posted a slightly wider range of positive results relative to the Developed Markets. The MSCI Emerging Markets Index returned 14.52% for 2012 YTD, which was somewhat below average in comparison to its constituent regions and countries. The top performing regionwas the MSCI EM Eastern Europe ex Russia Index which provided a 25.62% return for 2012 YTD,followed by the MSCI EM Europe Index with a 20.46% return for the period. The three stand-out performers among the Emerging Markets countries were the MSCI Turkey, Egypt and Philippines Indices, with2012 YTD returns of 60.59%, 46.90% and 43.17%, respectively. The MSCI Czech Republic, Brazil and Morocco Indices were the only Emerging Markets countries to deliver negative 2012 YTD results, with returns of -3.49%, -4.37% and -16.15%.

Reinforcing the global small cap dominance trend, the MSCI EM Small Cap Index outperformed its large- and mid-cap sibling (the MSCI EM Index), returning 18.56% for 2012 YTD.

Frontier Markets

The MSCI Frontier Markets Indices produced the most widely dispersed results for 2012 YTD. The MSCI Frontier Markets Index returned 4.60% over the period. The MSCI Frontier Markets Africa Index was the top-performing regional Frontier Markets index, delivering a 2012 YTD return of 44.88%. The top three single country Frontier Markets index performers for 2012 YTD included the MSCI Kenya, Nigeria and Estonia Indices which posted returns of 54.16%, 52.82%, and 44.98%, respectively. More than half of the FM countries delivered negative 2012 YTD returns. The bottom performers were the MSCI Bulgaria, Argentina, and Ukraine Indices with 2012 YTD returns of -32.78%, -37.49% and -49.33%, respectively.

Historical index levels for the full range of MSCI Indices are available at www.msci.com.

1 All year-to-date (YTD) 2012 index performance data is based on price index levels in USD for the periods 1 January 2012 – 27 December 2012.

MSCI Indices Performance Table—YTD 2012

 
Index   YTD 2012
1 Jan 2012 – 27 Dec 2012
        2011    
MSCI All Country (AC) Indices    
MSCI ACWI IMI/Financials   24.13%         -20.61%    
MSCI Zhong Hua Index2   20.07%         -19.72%    
MSCI AC Asia ex Japan Index   18.72%         -19.16%    
MSCI AC Far East ex Japan Index   18.34%         -16.78%    
MSCI AC Europe Index   16.09%         -14.45%    
MSCI ACWI Small Cap Index   15.17%         -12.75%    
MSCI ACWI Mid Cap Index   14.21%         -11.25%    
MSCI ACWI Investable Market Index (IMI)   13.45%         -9.87%    
MSCI ACWI Index   13.19%         -9.41%    
MSCI ACWI Large Cap Index   12.99%         -9.05%    
MSCI ACWI IMI/Telecom Services   4.29%         - 5.02%    
MSCI ACWI IMI/Utilities   -0.71%         -6.79%    
MSCI Developed Markets (DM) Indices    
MSCI Belgium Index   37.58%         -12.55%    
MSCI Denmark Index   30.32%         -16.83%    
MSCI Germany Index   28.12%         -20.05%    

2 The MSCI Zhong Hua Index captures large and mid cap representation across China securities available to non-domestic investors and includes: China H shares, B shares, Red chips and P chips, together with China securities listed on the Hong Kong exchange.

 
MSCI Developed Markets (DM) Indices, cont.            
MSCI Europe Small Cap Index             25.76%             -21.94%            
MSCI Nordic Countries Index             19.27%             -19.80%            
MSCI Pacific ex Japan Index             19.22%             -16.25%            
MSCI Europe ex UK Index             18.61%             -17.63%            
MSCI EMU Index             18.34%             -20.15%            
MSCI Europe Index             15.87%             -13.82%            
MSCI USA Small Cap Index             14.94%             -4.35%            
MSCI World Small Cap Index             14.75%             -10.49%            
MSCI EAFE Index             13.96%             -14.82%            
MSCI World Index             13.00%             -7.61%            
MSCI USA Index             12.86%             -0.11%            
MSCI Spain Index             -1.90%             -16.90%            
MSCI Greece Index             -2.53%             -63.59%            
MSCI Israel Index             -6.95%             -29.79%            
MSCI Emerging Markets (EM) Indices            
MSCI Turkey Index             60.59%             -36.78%            
MSCI Egypt Index             46.90%             -48.78%            
MSCI Philippines Index             43.17%             -3.17%            
MSCI EM Eastern Europe ex Russia Index             25.62%             -29.98%            
MSCI EM Europe & Middle East IMI             21.22%             -26.46%            
MSCI EM Europe Index             20.46%             -25.33%            
MSCI Emerging Markets Small Cap Index             18.56%             -28.78%            
MSCI Emerging Markets (EM) Index             14.52%             -20.41%            
MSCI Brazil Index             -4.37%             -24.85%            
MSCI Czech Republic Index             -3.49%             -11.29%            
MSCI Morocco Index             -16.15%             -18.75%            
MSCI Frontier Markets (FM) Indices            
MSCI Kenya Index             54.16%             -30.61%            
MSCI Nigeria Index             52.82%             -18.73%            
MSCI Estonia Index             44.98%             -28.79%            
MSCI FM Africa Index             44.88%             -19.76%            
MSCI Frontier Markets (FM) Index             4.60%             -22.14%            
MSCI Bulgaria Index             -32.78%             -29.80%            
MSCI Argentina Index             -37.49%             -42.64%            
MSCI Ukraine Index             -49.33%             -45.81%            

About MSCI

MSCI Inc. is a leading provider of investment decision support tools to investors globally, including asset managers, banks, hedge funds and pension funds. MSCI products and services include indices, portfolio risk and performance analytics, and governance tools.

The company’s flagship product offerings are: the MSCI indices with close to USD 7 trillion estimated to be benchmarked to them on a worldwide basis1; Barra multi-asset class factor models, portfolio risk and performance analytics; RiskMetrics multi-asset class market and credit risk analytics; IPD real estate information, indices and analytics; MSCI ESG (environmental, social and governance) Research screening, analysis and ratings; ISS governance research and outsourced proxy voting and reporting services; FEA valuation models and risk management software for the energy and commodities markets; and CFRA forensic accounting risk research, legal/regulatory risk assessment, and due‐diligence. MSCI is headquartered in New York, with research and commercial offices around the world.

1 As of March 31, 2012, as published by eVestment, Lipper and Bloomberg in September, 2012.

For further information on MSCI, please visit our web site at www.msci.com

This document and all of the information contained in it, including without limitation all text, data, graphs, charts (collectively, the “Information”) is the property of MSCl Inc. or its subsidiaries (collectively, “MSCI”), or MSCI’s licensors, direct or indirect suppliers or any third party involved in making or compiling any Information (collectively, with MSCI, the “Information Providers”) and is provided for informational purposes only. The Information may not be reproduced or redisseminated in whole or in part without prior written permission from MSCI.

The Information may not be used to create derivative works or to verify or correct other data or information. For example (but without limitation), the Information many not be used to create indices, databases, risk models, analytics, software, or in connection with the issuing, offering, sponsoring, managing or marketing of any securities, portfolios, financial products or other investment vehicles utilizing or based on, linked to, tracking or otherwise derived from the Information or any other MSCI data, information, products or services.

The user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. NONE OF THE INFORMATION PROVIDERS MAKES ANY EXPRESS OR IMPLIED WARRANTIES OR REPRESENTATIONS WITH RESPECT TO THE INFORMATION (OR THE RESULTS TO BE OBTAINED BY THE USE THEREOF), AND TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, EACH INFORMATION PROVIDER EXPRESSLY DISCLAIMS ALL IMPLIED WARRANTIES (INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF ORIGINALITY, ACCURACY, TIMELINESS, NON-INFRINGEMENT, COMPLETENESS, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE) WITH RESPECT TO ANY OF THE INFORMATION.

Without limiting any of the foregoing and to the maximum extent permitted by applicable law, in no event shall any Information Provider have any liability regarding any of the Information for any direct, indirect, special, punitive, consequential (including lost profits) or any other damages even if notified of the possibility of such damages. The foregoing shall not exclude or limit any liability that may not by applicable law be excluded or limited, including without limitation (as applicable), any liability for death or personal injury to the extent that such injury results from the negligence or wilful default of itself, its servants, agents or sub-contractors.

Information containing any historical information, data or analysis should not be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. Past performance does not guarantee future results.

None of the Information constitutes an offer to sell (or a solicitation of an offer to buy), any security, financial product or other investment vehicle or any trading strategy.

MSCI’s indirect wholly-owned subsidiary Institutional Shareholder Services, Inc. (“ISS”) is a Registered Investment Adviser under the Investment Advisers Act of 1940. Except with respect to any applicable products or services from ISS (including applicable products or services from MSCI ESG Research Information, which are provided by ISS), none of MSCI’s products or services recommends, endorses, approves or otherwise expresses any opinion regarding any issuer, securities, financial products or instruments or trading strategies and none of MSCI’s products or services is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

The MSCI ESG Indices use ratings and other data, analysis and information from MSCI ESG Research. MSCI ESG Research is produced by ISS or its subsidiaries. Issuers mentioned or included in any MSCI ESG Research materials may be a client of MSCI, ISS, or another MSCI subsidiary, or the parent of, or affiliated with, a client of MSCI, ISS, or another MSCI subsidiary, including ISS Corporate Services, Inc., which provides tools and services to issuers. MSCI ESG Research materials, including materials utilized in any MSCI ESG Indices or other products, have not been submitted to, nor received approval from, the United States Securities and Exchange Commission or any other regulatory body.

Any use of or access to products, services or information of MSCI requires a license from MSCI. MSCI, Barra, RiskMetrics, ISS, CFRA, FEA, and other MSCI brands and product names are the trademarks, service marks, or registered trademarks of MSCI or its subsidiaries in the United States and other jurisdictions. The Global Industry Classification Standard (GICS) was developed by and is the exclusive property of MSCI and Standard & Poor’s. “Global Industry Classification Standard (GICS)” is a service mark of MSCI and Standard & Poor’s.



Media Enquiries:
Jo Morgan, MSCI, London, + 44.20.7618.2224
Kristin Meza, MSCI, New York, + 1.212.804.5330
Sally Todd | Christian Pickel, MHP Communications, London, + 44.20.3128.8515
or
MSCI Global Client Service:
EMEA Client Service, + 44.20.7618.2222
Americas Client Service, 1.888.588.4567 (toll free)/+ 1.212.804.3901
Asia Pacific Client Service, + 852.2844.9333

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