We would like to ensure that you are still receiving content that you find useful – please confirm that you would like to continue to receive ILO newsletters.
13 August 2002
Equity securities listed on the Australian Stock Exchange (ASX) have traditionally been classified as either industrials or resources, and categorized under one of 24 industry sectors unique to Australia and 120 sub-industry groupings. Until July 5 2002 the ASX calculated and published indices for each of the 24 sectors.
In order to bring Australia into line with the rest of the world, all listed Australian companies have been reclassified in accordance with the Global Industry Classification Standard (GICS). GICS is an enhanced industry classification system jointly developed by Standard & Poor's and Morgan Stanley Capital International. It is designed to facilitate the investment, research and management process by enabling comparable sector analysis on a global basis. There are currently over 25,000 companies globally that have been classified using GICS into 10 sectors, 23 industry groupings, 59 industries and 122 sub-industries.
From July 5 2002 the ASX will calculate and publish only GICS sector indices. These have been published alongside the traditional 24 sector indices since June 2001.
The GICS system has been adapted for the Australian market. The listed property trust sector represents a significant portion of the Australian market and investors have traditionally treated this sector as a separate asset class. For the Australian market alone, the GICS financial sector has been broken down into property trusts and financials excluding property trusts; separate indices are published for each.
The materials contained on this website are for general information purposes only and are subject to the disclaimer.
ILO is a premium online legal update service for major companies and law firms worldwide. In-house corporate counsel and other users of legal services, as well as law firm partners, qualify for a free subscription.