This note is the second of our MSCI MENA Index Plays Series, tracking all MENA countries that are included in MSCI indexes, whether part of the Standard Index (SI) or the Small Cap (SC) Index. For the upcoming February 2020 QIR, we expect a total of 2 exclusions and 1 inclusion from North African equity markets, targeting only Morocco with expected net passive inflows amounting to USD3mn, which is the aggregation of net passive outflows of USD1mn from Morocco’s Standard Index (ticker: MXMA) and a total of USD4mn of net passive inflows into Morocco’s Small Cap Index (ticker: MXMASC). In terms of potential additions, we expect the addition of MNG MC to MXMASC (with total passive inflows amounting to USD3.9mn, equivalent to 33.4 days/ trade based on the 3M ADVT of USD0.1mn). In terms of potential deletions, we expect the deletion of QATI QD from MXQA (with total passive outflows amounting to USD32mn, equivalent to 61.4 days/trade based on the 3M ADVT of USD0.5mn). In terms of potential additions, we expect the addition of QATI QD to MXQASC (with total passive inflows amounting to USD209mn, equivalent to 398.4 days/trade based on the 3M ADVT of USD0.5mn).

Source: The North Africa Journal February 12, 2020 09:11 UTC