LONDON, May 13 (Reuters) - U.S. index provider MSCI will launch a consultation on whether to cut Bulgaria from its Frontier Markets index, and the firm plans to add Jamaica and the West African Economic and Monetary Union (WAEMU) Countries Index to the benchmark.
A steady decline in the size and liquidity of the Bulgarian equity market meant the current number of securities classified by MSCI as “investable” had dropped below the minimum required for inclusion in its Frontier benchmark, MSCI said in a statement released on its web site late on Thursday.
This means, Bulgaria could be classified as a “Standalone Market”, MSCI said, adding it would announce the results of the consultation on or before June 30.
In a separate statement, MSCI said its WAEMU and Jamaica country indexes did meet the minimum size and liquidity requirements for inclusion in the Frontier Markets index. The index provider said it expected to add both as part of its November review as long as they continue to meet the minimum requirement.
MSCI also made a number of changes to its China A Index.
Reporting by Karin Strohecker; editing by John Stonestreet