The S&P Dow Jones and MSCI Indices have announced significant changes in their Global Industry Classification Standard (GICS).
These changes will probably have the impact of grouping the “FANG” (Facebook, Amazon, Netflix, Google) in a single sector. The Telecom sector should also be impacted.
In total, $ 62 billion of ETF Assets should be impacted by these changes. No less than thirty ETFs will be involved, with issuers such as SPDR, iShares, Vanguard, PowerShares, Fidelity and Guggenheim.