MSCI Inc. is consulting on a proposal to exclude non-operating companies from its Global Investable Market Indexes (GIMI). The change targets entities that primarily hold assets instead of generating revenue through business operations.
A simulation using May 2026 data indicates MicroStrategy and Yellow Cake PLC could face removal under these rules. The proposal utilizes a two-stage screening process based on financial ratios to identify non-operating entities.
Market participants have until September 30 to provide feedback. MSCI expects to announce a final decision around October 16.
Adopted changes would take effect during the November 2026 Index Review. Separately, MSCI increased Taiwan’s weighting across three of its major indexes.