Pure fiber internet provider Converge ICT Solutions Inc. has been added to the highly-watched MSCI Global Standard Index—the only Philippine company to do so–in its latest rebalancing.
The MSCI Global Standard Index is an international equity index which tracks stocks across 33 markets.
With 1,539 constituents, the index covers approximately 85 percent of the free float-adjusted market capitalization in each country.
Each index in the MSCI is reviewed quarterly and rebalanced twice a year.
Meanwhile, Robinsons Land Corp.’s real estate investment trust RCR, Synergy Grid Corp. and MREIT Inc. have been added to the small cap index.
The latest additions will take effect on May 31.
“Our inclusion in the global benchmark, the MSCI, is yet another testament to our strong market position. We’re pleased to have joined another index that will further broaden our exposure to international passive investors,” said Converge president Maria Grace Uy.