Converge ICT announced that they are now part of the international equity index, giving more visibility of its stock to foreign investors. Converge will be added to the MSCI Global Standard Index on May 31, 2022.
The MSCI Global Standard Index tracks several stocks across 33 markets. The company noted that mutual funds and exchange trade funds are considered when making decisions regarding their shareholding.
The MSCI does their index reviews on a quarterly basis with rebalancing conducted twice a year.
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Converge President, Maria Grace Uy, stated that their inclusion in the global benchmark in the MSCI is a good indication of their strong market position. The company also shared its happiness regarding their inclusion in the index as it can provide exposure to international passive investors.
This feat will indeed bolster Converge’s commitment to boost their performance and services in the Philippines.