| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| G1 Scope, precedence and principles · 5 fields | |||
| Classification levels | Sectors: 11; Industry groups: 25; Industries: 74; Sub industries: 163; Hierarchy levels: 4 | The GICS classification system consists of four levels, with 11 sectors, 25 industry groups, 74 industries, and 163 sub-industries.Open p.3 ↗ |
The GICS classification system has four hierarchical levels comprising 11 sectors, 25 industry groups, 74 industries, and 163 sub-industries. |
| Coding system | eight-digit GICS coding system | The eight-digit GICS coding system is designed to adapt easily to the changing investment world.Open p.7 ↗ |
GICS uses an eight-digit coding system designed to adapt as the investment environment changes. |
| Covered indices | companies globally | GICS applies to companies globally.Open p.3 ↗ |
GICS applies to companies globally, in both developed and developing economies, rather than to a specified set of indices. |
| Principles | Universality, Flexibility, evolving representativeness, Transparency, Efficiency, classification stability | GICS universal approach to industry classification aims to improve transparency and efficiency.Open p.3 ↗ |
GICS is designed to be universal, flexible, evolving to remain representative, transparent, efficient, and stable by minimizing changes caused by temporary fluctuations. |
| Administrator | S&P Dow Jones Indices, MSCI | S&P Dow Jones Indices (S&P DJI) and MSCI, two leading global index providers, jointly developed GICSOpen p.3 ↗ |
GICS was jointly developed and is supervised by S&P Dow Jones Indices and MSCI. |
| G7 Review and constituent changes · 6 fields | |||
| Continuous monitoring | Yes | and are continuously monitored for corporate actions potentially impacting classification.Open p.6 ↗ |
GICS classifications are continuously monitored for corporate actions that could affect classification. |
| Major corporate action trigger | major corporate action redefining primary business activity | a company’s GICS classification changes whenever there is a major corporate action that redefines a company's primary business activity.Open p.6 ↗ |
A company's GICS classification generally changes when a major corporate action redefines its primary business activity. |
| Client request review | Yes | GICS reviews also occur upon client request.Open p.6 ↗ |
GICS company classification reviews also occur upon client request. |
| Temporary fluctuations disregarded | Yes | changes to a company’s classification are minimized by disregarding temporary fluctuations in the results of a company’s different business activities.Open p.6 ↗ |
Temporary fluctuations in the results of a company's different business activities are disregarded to keep its classification stable. |
| Structure change scope | Sectors, industry groups, Industries, sub-industries | As the global economy changes, sectors, industry group, industries, and sub-industries can be added or divided.Open p.7 ↗ |
As the global economy changes, sectors, industry groups, industries, and sub-industries may be added or divided. |
| Review frequency | Annual | GICS classifications are reviewed annually and are continuously monitored for corporate actions potentially impacting classification.Open p.6 ↗ |
Company GICS classifications are reviewed annually and continuously monitored for corporate actions. |
| G8 Governance, changes and termination · 6 fields | |||
| Committee discussions confidentiality | Yes | Therefore, all Committee discussions are confidential.Open p.9 ↗ |
All GICS Operations Committee discussions are confidential because structure-change information may be market moving and material. |
| Contact channel | [email protected] | For more information on GICS, please contact [email protected].Open p.9 ↗ |
The document provides [email protected] as the contact for more information about GICS. |
| Oversight body | GICS Operations Committee | The GICS methodology and structure fall under the overall supervision of the GICS Operations Committee, with committee members from both S&P DJI and MSCI.Open p.9 ↗ |
The GICS methodology and structure are under the overall supervision of the GICS Operations Committee, whose members come from S&P DJI and MSCI. |
| Methodology review frequency | periodically as needed | S&P DJI and MSCI review the GICS structure periodically as neededOpen p.6 ↗ |
S&P DJI and MSCI review the GICS structure periodically as needed. |
| External review | Advisory Panels, open consultations with market participants | which can include Advisory Panels or open consultations with market participants as required.Open p.6 ↗ |
GICS structure reviews may include Advisory Panels or open consultations with market participants as required. |
| Material change definition | changes to the GICS structure and related matters | S&P DJI and MSCI consider information about changes to the GICS structure and related matters to be potentially market moving and material.Open p.9 ↗ |
S&P DJI and MSCI consider information about GICS structure changes and related matters potentially market moving and material. |
Open points · 10Model-written, for reference
- 1No statement was found identifying specific covered indices or index families; the document covers companies classified under GICS.
- 2No precedence rule between this GICS document and a separate index methodology was found.
- 3No printed rulebook version or effective date was found.
- 4No periodic review effective date, data cutoff, announcement timing, buffer rule, reserve list, turnover limit, fast-entry rule, deletion trigger list, replacement policy, deletion price, or suspension treatment was found because the document concerns GICS classification rather than index constituent maintenance.
- 5No detailed methodology-change approval procedure, consultation procedure, notice period, cessation or termination policy, complaints procedure, disclosure channels, or usage restrictions were found.
- 6Not coveredG2 Calculation and publication: not covered by this edition
- 7Not coveredG3 Prices and market data: not covered by this edition
- 8Not coveredG4 Corporate events: not covered by this edition
- 9Not coveredG5 Shares, free float and weight factors: not covered by this edition
- 10Not coveredG6 Disruption, emergencies and corrections: not covered by this edition
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