MSCI August review – what to expect

研报英文原文证据摘录

MSCI August review – what to expect

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Latam Equity Quant

Investment Strategy

August 2026 MSCI Index review 24 July 2026

The MSCI Index Review will be announced on Aug 12, effective Sep 1. We monitor the Investment Strategy

risk of deletion for Stone (STNE US) since its market cap is currently below both the Latin America

global minimum requirements and the Brazilian threshold (more details on page 2). If

deleted, outflows for Stone could represent 1 trading day. We do not expect additions to

the MSCI LatAm standard index (Exhibit 2).

Current members close to the edge: MBRF (MBRF3 BZ) and Klabin (KLBN11 BZ) are

current members and both meet the index requirements. However, given their lower

market capitalizations, they are the most exposed to deletion risk should global

minimum size pressures persist in future reviews. See Exhibit 3 for details.

Non-members close to the threshold to watch for future reviews: We monitor DavidBz Econ/FIBeker& LatAm>> EQ Strategy

Copasa (CSMG3 BZ), which meets the free float requirement but remains below the Merrill Lynch (Brazil)

+55 11 2188 4371

market capitalization threshold (Exhibit 2). In Colombia, Ecopetrol (ECOPETL CB) could david.beker@bofa.com

become a candidate for future MSCI reviews its market cap continues to increase. In Paula Andrea Soto, CFA >>

Ecopetrol’s case, a specific requirement applies to securities with free float below 15% LatAm Equity Strategist

Merrill Lynch (Brazil)

(see details on page 3). +55 11 2188 4226

paula.soto@bofa.com

This week in numbers Carlos Peyrelongue >>

Mex Eq Strat/Research Analyst

Performance of the week, USD terms: Ibovespa +2.3%, Mexbol -0.5%, versus the Merrill Lynch (Mexico)

S&P 500 -0.7%, EM +3.2% in USD total return terms. Brent oil +14% this week.