GICS structure changes in 2006 included the creation of nine new Sub-Industries: Diversified REITs, Industrial REITs, Mortgage REITs, Office REITs, Residential REITs, Retail REITs and Specialized REITs, Life Sciences Tools & Services, and Health Care Technology.
Launched in 1999, the GICS methodology has been widely accepted as the framework for industry analysis used by investment research, portfolio management, and asset allocation professionals.
The current GICS structure consists of 10 sectors, 24 Industry Groups, 67 Industries and 147 Sub-Industries.
GICS was developed in response to the global financial community's need for one complete, consistent set of global sector and industry definitions and has become the standard widely recognized by market participants worldwide.
All final changes to company classifications that result from the changes in the GICS definitions will be implemented in GICS Direct after the close of business (U.
Standard & Poor's and MSCI also announced that the annual review of the GICS structure for the year 2004 will focus on the Utilities & Energy, Industrials, Consumer Discretionary and Information Technology Sectors.
Materials, are currently part of three GICS Sectors
In 1999, Standard & Poor's and MSCI jointly developed GICS to establish a common global standard for categorizing companies into sectors and industries, thereby enabling asset owners, asset managers and investment research specialists to make seamless comparisons across indices by industry, by region, and globally.
For a detailed description of GICS please refer to the Standard & Poor's website at www.
Over 25,000 companies worldwide have been classified using GICS, which serves as the structure for S&P's and MSCI's sector indices.
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