Also known as: MXCNA50U Index (Bloomberg) · 735577 (MSCI code)
At a glance
- Weighting schemeFree float market cap
- Review frequencyQuarterly
- Constituent count50
- Buffer13 / 43
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 8 fields | |||
| J series variant parent index | MSCI China A J-Series Index | The MSCI China A 50 Connect J-Series Index follow the MSCI China A 50 Connect Index Methodology but with MSCI China A J-Series Index as the Parent IndexOpen p.8 ↗ |
The MSCI China A 50 Connect J-Series Index follows this methodology but uses the MSCI China A J-Series Index as its Parent Index. |
| Rmb j series constituents | Same constituents as the MSCI China A 50 Connect J-Series Index | The MSCI China A 50 Connect RMB J-Series Index have the same constituents as the MSCI China A 50 Connect J-Series Index.Open p.8 ↗ |
The MSCI China A 50 Connect RMB J-Series Index has the same constituents as the MSCI China A 50 Connect J-Series Index. |
| Index name | MSCI China A 50 Connect Index | The MSCI China A 50 Connect Index (the “Index”) is constructed from the MSCI China A Index (the “Parent Index”)1.Open p.3 ↗ |
The official index name is MSCI China A 50 Connect Index. |
| Index family | MSCI China A 50 Connect | MSCI China A 50 Connect Index MethodologyOpen p.1 ↗ |
The methodology covers the MSCI China A 50 Connect index family. |
| Parent index | MSCI China A Index | The MSCI China A 50 Connect Index (the “Index”) is constructed from the MSCI China A Index (the “Parent Index”)1.Open p.3 ↗ |
The Index is constructed from the MSCI China A Index, identified as the Parent Index. |
| Objective | The Index aims to reflect the performance of the 50 largest securities representing each GICS sector and reflecting the sector weight allocation of the Parent Index. | The Index aims to reflect the performance of theOpen p.3 ↗ |
The Index aims to reflect the performance of the 50 largest securities representing each GICS sector while reflecting the Parent Index's sector weight allocation. |
| Market classification | China A | For details on the MSCI China A Index, please refer to appendix XVI: ‘MSCI China A Indexes’ of the MSCI Global Investable Market Indexes (GIMI) MethodologyOpen p.3 ↗ |
The index is based on China A shares through its parent, the MSCI China A Index. |
| Index family type | Market cap | 50 largest securities representing each Global Industry Classification Standard (GICS®) sector and reflecting the sector weight allocation of the Parent Index.Open p.3 ↗ |
The index is a market-cap-oriented sector-representative index constructed using the largest securities from the parent index. |
| M2 Universe · 3 fields | |||
| Applicable universe rule | All constituents of the Parent Index | The applicable universe includes all the constituents of the Parent Index.Open p.4 ↗ |
The applicable universe is all constituents of the Parent Index. |
| Security types | A share | For details on the MSCI China A Index, please refer to appendix XVI: ‘MSCI China A Indexes’ of the MSCI Global Investable Market Indexes (GIMI) MethodologyOpen p.3 ↗ |
The applicable universe consists of China A shares because it is drawn from the MSCI China A Index. |
| Parent universe index | MSCI China A Index | The applicable universe includes all the constituents of the Parent Index.Open p.4 ↗ |
The applicable universe includes all constituents of the Parent Index, which is the MSCI China A Index. |
| M4 Selection and constituent count · 6 fields | |||
| Parent index | MSCI China A Large Cap Index | 2 largest securities from each GICS® sector (the “sectors”) of the MSCI China A Large Cap IndexOpen p.4 ↗ |
The parent index used for sector selections and remaining constituent selection is the MSCI China A Large Cap Index. |
| Step one sector quota | 2 securities per sector | Step 1: The Index aims to include the 2 largest securities from each GICS® sectorOpen p.4 ↗ |
Step 1 aims to include the two largest securities from each GICS sector. |
| Selection method | Rank by metric | Step 1: The Index aims to include the 2 largest securities from each GICS® sector (the “sectors”) of the MSCI China A Large Cap Index based on their free float-Open p.4 ↗ |
Securities are selected by ranking eligible securities by free-float-adjusted market capitalization, first within sectors and then to reach the target count. |
| Ranking metrics | Name: Free float adjusted market capitalization; Direction: Descending; Step order: 1, Name: Free float adjusted market capitalization; Direction: Descending; Step order: 2 | adjusted market capitalization.Open p.4 ↗ |
In both selection steps, securities are ranked from largest to smallest by free-float-adjusted market capitalization. |
| Target constituent count | 50 securities | adjusted market capitalization until the number of securities reaches target number of constituents (50).Open p.4 ↗ |
The index targets 50 constituents. |
| Industry neutrality rule | Select two largest securities from each parent-index GICS sector; if a parent-index sector is unrepresented, add the largest security in that sector from the applicable universe. | Step 1: The Index aims to include the 2 largest securities from each GICS® sector (the “sectors”) of the MSCI China A Large Cap Index based on their free float-Open p.4 ↗ |
Selection initially takes the two largest securities from each GICS sector of the MSCI China A Large Cap Index and ensures representation of every parent-index sector. |
| M5 Weighting and capping · 4 fields | |||
| Sector neutrality adjustment | Each index sector weight is equated to the corresponding parent-index sector weight at rebalancing by renormalizing constituent weights within each sector. | These weights are then adjusted to implement sector neutrality, i.e. the weight of each sector in the MSCI China A 50 Connect Index is equated with the weight of thatOpen p.4 ↗ |
After free-float market-cap weighting, sector weights are adjusted to match the parent index at the rebalancing by renormalizing constituents within each sector. |
| Weight adjustment reference | MSCI China A Large Cap Index | sector in the Parent Index at the rebalancing. This is done by re-normalizing the weights of the constituents within each sectorOpen p.4 ↗ |
Sector neutrality is implemented relative to the sector weights of the MSCI China A Large Cap Parent Index. |
| Weighting scheme | Free float market cap | The selected Index constituents are assigned weights in the proportion of their free float-adjusted market capitalization.Open p.4 ↗ |
Constituents are initially weighted in proportion to their free-float-adjusted market capitalization. |
| Free float factor | Method: Free float | assigned weights in the proportion of their free float-adjusted market capitalization.Open p.4 ↗ |
Market capitalization used for selection and weighting is free-float-adjusted, but no factor bands are stated in the provided text. |
| M6 Review and rebalance schedule · 8 fields | |||
| Coincides with parent index reviews | Yes | coinciding with the February, May, August and November Index Review of the MSCI Global Investable Market Indexes.Open p.5 ↗ |
The index's quarterly reviews coincide with the February, May, August and November index reviews of the MSCI Global Investable Market Indexes. |
| Quarterly selection rules | Sections 2.1 to 2.3 apply at each quarterly index review; if the target constituent count is not reached in step 2, all remaining securities after step 1 from the MSCI China A Large Cap Index are included. | The rules defined in sections 2.1 to 2.3 are applicable at each quarterly index reviews.Open p.5 ↗ |
The selection rules in sections 2.1 to 2.3 apply each quarter, with remaining MSCI China A Large Cap securities added if the target count is not reached. |
| Review frequency | Quarterly | The MSCI China A 50 Connect Index is rebalanced on a quarterly basis, usually as of the close of the last business day of February, May, August and November,Open p.5 ↗ |
The index is rebalanced on a quarterly basis. |
| Review types | Quarterly review, Ad hoc | 3.1 QUARTERLY INDEX REVIEWOpen p.5 ↗ |
The index has quarterly index reviews and ongoing event-related changes between reviews. |
| Review months | February, May, August, November | usually as of the close of the last business day of February, May, August and November,Open p.5 ↗ |
Quarterly reviews occur in February, May, August and November. |
| Announcement rule | The pro forma index is generally announced nine business days before the effective date. | The pro forma Index is in general announced nine business days before the effective date.Open p.5 ↗ |
MSCI generally announces the pro forma index nine business days before the effective date. |
| Effective date rule | Changes are usually effective as of the close of the last business day of February, May, August and November. | usually as of the close of the last business day of February, May, August and November,Open p.5 ↗ |
Quarterly changes generally take effect at the close of the last business day of February, May, August and November. |
| Rebalance frequency | Quarterly | The MSCI China A 50 Connect Index is rebalanced on a quarterly basisOpen p.5 ↗ |
The index is rebalanced quarterly. |
| M7 Buffers and turnover control · 4 fields | |||
| Buffer purpose | reduce turnover and enhance stability | To reduce Index turnover and enhance Index stability in the MSCI China A 50 Connect IndexOpen p.5 ↗ |
Buffer rules are intended to reduce index turnover and enhance index stability. |
| Buffer application scope | Applied for 15 securities while selecting remaining securities after sector-based selection. | buffer rules are applied for 15 securities while selecting remaining securitiesOpen p.5 ↗ |
The buffer applies to 15 securities when selecting the remaining securities after selections from each sector. |
| Post buffer fill rule | If the index still has fewer than 50 securities after the buffer process, the highest-ranked remaining MSCI China A Large Cap Index securities are added until there are 50. | the remaining securities in the MSCI China A Large Cap Index with the highest rank are added until the number of securities in the MSCI China A 50 Connect IndexOpen p.5 ↗ |
After the buffer process, remaining MSCI China A Large Cap securities are added by highest rank until the index reaches 50 constituents. |
| Buffer zone | Entry rank: 13; Exit rank: 43 | buffer rules are applied for 15 securities while selecting remaining securitiesOpen p.5 ↗ |
For the 15 buffer securities, non-sector-selected large-cap securities ranked 13 or higher by free-float-adjusted market capitalization are prioritized, and existing constituents ranked 14 through 43 are successively added until the index reaches 50 securities. |
| M8 Corporate actions, IPOs, ad-hoc changes · 7 fields | |||
| Inter review addition rule | No new securities are added between reviews except as specifically noted, and noted additions are added only if they are added to the parent index. | No new securities will be added (except where noted below) to the Index between Index Reviews.Open p.5 ↗ |
Between index reviews, securities are generally not added unless the methodology specifically says so, and then only if they are added to the parent index. |
| Parent index deletion rule | Parent index deletions are reflected simultaneously in the index. | Parent Index deletions will be reflected simultaneously in the Index.Open p.5 ↗ |
When a security is deleted from the parent index, the deletion is reflected in this index at the same time. |
| Security characteristic changes | A security remains a constituent after changes in country, sector, size segment or other characteristics, with continued inclusion reevaluated at the subsequent corresponding parent index review. | Changes in Security CharacteristicsOpen p.6 ↗ |
Changes in security characteristics do not immediately remove a constituent; continued inclusion is reviewed at the next corresponding parent index review. |
| Fast entry | Timing: New securities added to the parent index, including IPOs and other early inclusions, are not added to this index between reviews | New additions to the Parent IndexOpen p.6 ↗ |
The document does not provide a large-new-listing fast-entry rule; instead, IPOs and other early inclusions added to the parent index are not added to this index. |
| Ad-hoc deletion | Acquisition | If an existing Index constituent is acquired by a non-Index constituent,Open p.6 ↗ |
An existing constituent is deleted between reviews when it is acquired by a non-index constituent; parent index deletions are also reflected simultaneously. |
| Merger spinoff rules | Spin offs: Securities created from a spin-off of an existing constituent are added at event implementation and reevaluated for continued inclusion at the next corresponding underlying index review; Mergers acquisitions: The acquirer's post-event weight reflects the proportionate shares used as deal consideration, while cash proceeds are invested across the index; Acquisition by non constituent: The acquired existing constituent is deleted and the non-index acquirer is not added | All securities created as a result of the spin-off of an existing Index constituent will be added to the Index at the time of event implementation.Open p.6 ↗ |
Spin-off securities are added at implementation and reviewed later; merger weights account for share consideration and cash proceeds are invested across the index; an existing constituent acquired by a non-constituent is deleted without adding the acquirer. |
| Corporate actions guide ref | MSCI Corporate Events Methodology, Appendix VIII: Implementation for stock connect A-Share Securities; sections for Capped Weighted and Non-Market Capitalization Weighted indexes | For details on the Corporate Events, please refer to appendix VIII: ‘Implementation for stock connect A-Share securities’ of the MSCI Corporate Events MethodologyOpen p.3 ↗ |
Corporate-event details are in Appendix VIII of the MSCI Corporate Events Methodology and in the sections for capped-weighted and non-market-capitalization-weighted indexes. |
| M9 Calculation and return variants · 6 fields | |||
| Index calculation methodology reference | MSCI Index Calculation methodology book | For details on the Index Calculation, please refer to the MSCI Index Calculation methodology book, available at https://www.msci.com/index/methodology/latest/IndexCalcOpen p.3 ↗ |
Details of the index calculation are provided in the MSCI Index Calculation methodology book. |
| Connect index listings and FX basis | Listings: China A Stock Connect listings; Exchange rate basis: CNH | The MSCI China A 50 Connect Index is calculated using China A Stock Connect listings based on the offshore RMB exchange rate (CNH). The MSCI China A 50Open p.7 ↗ |
The MSCI China A 50 Connect Index is calculated using China A Stock Connect listings based on the offshore RMB exchange rate (CNH). |
| Rmb index listings and FX basis | Listings: China A local listings; Exchange rate basis: CNY | Connect RMB Index is calculated using China A local listings based on the onshore RMB exchange rate (CNY).Open p.7 ↗ |
The MSCI China A 50 Connect RMB Index is calculated using China A local listings based on the onshore RMB exchange rate (CNY). |
| J series index listings and FX basis | Listings: China A Stock Connect listings; Exchange rate basis: CNH | The MSCI China A 50 Connect J-Series Index is calculated using China A Stock Connect listings based on the offshore RMB exchange rate (CNH). The MSCI China AOpen p.8 ↗ |
The MSCI China A 50 Connect J-Series Index is calculated using China A Stock Connect listings based on the offshore RMB exchange rate (CNH). |
| Rmb j series index listings and FX basis | Listings: China A local listings; Exchange rate basis: CNY | 50 Connect RMB J-Series Index is calculated using China A local listings based on the onshore RMB exchange rate (CNY).Open p.8 ↗ |
The MSCI China A 50 Connect RMB J-Series Index is calculated using China A local listings based on the onshore RMB exchange rate (CNY). |
| Rmb index constituents | Same constituents as the MSCI China A 50 Connect Index | The MSCI China A 50 Connect RMB Index have the same constituents as the MSCI China A 50 Connect Index.Open p.7 ↗ |
The MSCI China A 50 Connect RMB Index has the same constituents as the MSCI China A 50 Connect Index. |
Open points · 48Model-written, for reference
- 1Index short name or abbreviation was not stated.
- 2Local-language index name, index code, ISIN, and third-party vendor tickers were not stated.
- 3Administrator or calculation agent was not explicitly identified in the provided methodology sections.
- 4Launch date, base date, base value, calculation currency, methodology version, methodology date, and benchmark type were not stated.
- 5Stated intended uses, size segment, factor exposures, and limitations were not found.
- 6Specific markets, exchanges, boards, nationality rule, and universe exclusions were not stated.
- 7Trading-history, liquidity, minimum-size, free-float, foreign-room, voting-rights, price, financial, ESG, suspension, and extreme-price screens were not stated.
- 8No tie-breaking rule for securities with equal free-float-adjusted market capitalization is stated.
- 9No reserve list or ad-hoc replacement candidate rule is stated.
- 10No explicit single-issuer, aggregate group, sector, or country weight cap percentage is stated.
- 11No capping application frequency is stated.
- 12No Foreign Ownership Limit treatment or foreign-room adjustment is stated.
- 13No Domestic Inclusion Factor is stated.
- 14No Foreign Inclusion Factor bands or detailed free-float factor methodology are stated.
- 15No shares outstanding source or update schedule is stated.
- 16No Price Adjustment Factor or divisor continuity rule for weight resets is stated.
- 17No data cut-off or reference date rule for quarterly reviews was stated.
- 18No separate weight-reset frequency for capped or factor weights was stated.
- 19No size-segment buffer parameters were stated.
- 20No relaxed liquidity threshold for existing constituents was stated.
- 21No maximum turnover cap per review was stated.
- 22No explicit reserve list or replacement policy for ad hoc deletions was stated.
- 23No deletion price for securities removed between reviews was stated.
- 24No threshold for implementing share or free-float changes between reviews was stated.
- 25Fast-entry size threshold and excluded boards for large new listings were not stated; the document says IPOs and other early parent-index additions are not added.
- 26Formula type is not stated; the document only refers to the separate MSCI Index Calculation methodology book.
- 27Price source, including last-trade, closing-auction, or no-trade reference price rules, is not stated.
- 28Calculation frequency and real-time publication interval are not stated.
- 29Published index-level precision is not stated.
- 30Return variants (price, gross total, or net total return) are not stated.
- 31Withholding tax basis for net return variants is not stated.
- 32Cash dividend reinvestment or treatment is not stated.
- 33Events triggering divisor adjustments are not stated.
- 34Market closure or disruption calculation rules are not stated.
- 35Policy for recalculating or correcting published index levels is not stated.
- 36Oversight body or index committee is not identified.
- 37Administrator discretion points are not stated.
- 38Methodology review frequency is not stated.
- 39External review or consultation arrangements are not stated.
- 40Definition of a material methodology change is not stated.
- 41Consultation procedure is not stated.
- 42Notice period for changes is not stated.
- 43Error correction and restatement policy is not stated.
- 44Disclosure channels are not stated beyond the linked methodology book URL.
- 45Frequency of constituent-list publication is not stated.
- 46Index cessation or discontinuation policy is not stated.
- 47Not coveredM3 Eligibility screens: not covered by this edition
- 48Not coveredM10 Governance, change policy, disclosure: not covered by this edition
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