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MSCI KOKUNAI Japan Equity Indices
Index Factsheet
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A comprehensive family of size and style indices enabling more efficient asset allocation and asset management.
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The MSCI KOKUNAI (Domestic) Japan Equity Indices provide pension plans, asset managers, other investors and consultants with a complete asset allocation and performance measurement framework for investing in the Japanese equity markets.
Key Benefits
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- Efficient Asset Allocation
The MSCI KOKUNAI Japan Equity Indices provide a complete and consistent view of the entire investable Japanese equity market, including Japan's first micro cap index. Therefore, investors can precisely define their whole equity investment policy and strategy, without concern for missed or overlapping opportunities.
- Meaningful Performance Measurement
To provide a meaningful performance benchmark, an index should align closely with the investment strategy of the asset manager. Whether looking at broad market performance or the performance of value stocks, the MSCI KOKUNAI Japan Equity Indices are designed to reflect the practices of asset managers, providing an appropriate representation of these investment opportunities.
- Cost-Effective Asset Management
Designed to minimize turnover through the use of buffer zones, the MSCI KOKUNAI Japan Equity Indices provide an investable and cost-effective benchmark solution for asset managers. Free float and investability criteria and prompt corporate event management aim to ensure the indices remain easily replicable.
- Unprecedented Product and Analytical Opportunities
The MSCI KOKUNAI Japan Equity Indices include nearly 900 index variants by size, style and sector. This ability to segment the Japanese equity market and access the underlying fundamental data provides a basis for innovative research, investment management and new product development.
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| MSCI KOKUNAI Japan Equity Indices |
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MSCI KOKUNAI Japan Equity Indices:
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- Broad -
containing over 2,700 securities (97% representation) selected from a universe covering:
- Tokyo Stock Exchange Sections 1&2 and Mothers
- Osaka Stock Exchange Sections 1&2 and Hercules
- Nagoya Stock Exchange Sections 1&2 and Centrex
- JASDAQ
- Comprehensive - containing over 800 indices in total
- Market Cap Indices
- Value and Growth Indices
- Sector, Industry Group and Industry Indices
- Japan's first Micro Cap Index
- Timely - reflecting market evolution while minimizing index turnover
- Ongoing implementation of significant corporate events
- Quarterly index reviews
- Semi-annual index rebalancing
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| MSCI KOKUNAI Value and Growth Indices:
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- The independent calculation of value and growth exposures using eight variables (three for value and five for growth) results in more robust style indices that reflect the investment processes of style managers
- z-scores derived from the eight variables are used to determine where each security sits within the MSCI Value & Growth style space
- The z-scores can also be used as a tool by asset owners and consultants to measure and monitor the style bias of individual portfolios.
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Product Information
MSCI KOKUNAI Japan Equity Indices are updated daily after the close of the Japanese equity markets and are available in three modules:
- MSCI KOKUNAI Japan Equity Market Module
Contains index and security level data and history for KOKUNAI Market Cap and Value & Growth Indices
- MSCI KOKUNAI Japan Equity Sector Module
Contains index level data and history for KOKUNAI Sector, Industry Group and Industry Indices, based on the Global Industry Classification Standard (GICS®)
- MSCI KOKUNAI Japan Equity Index Module
Contains index level data and history for KOKUNAI Market Cap and Value & Growth Indices
Available from MSCI Barra via:
Other vendors are being added.
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