MSCI's Unexpected Turkish Index Revision: Three Out, Three In

MSCI's latest update to its Turkish indexes has reshaped market expectations, withdrawing three anticipated inclusions while confirming three others.

MSCI's Historic Withdrawal: TERA, TRHOL and KRDMB Left Out

■TERA Investment Securities (TERA), Tera Financial Investments (TRHOL) and Kardemir (B) (KRDMB) were excluded from the anticipated index inclusion.

The Remaining Trio: Borusan Boru, Europower Power and Rönesans Gayrimenkul Secure Their Spots

■Borusan Boru (BRSAN), Europower Energy (EUPWR) and Rönesans Gayrimenkul (RGYAS) will be added to the MSCI Turkey Small‑Cap Index effective 1 September 2026.

Astor Energy Holds Steady While ARCLK–KTLEV Removals Stay Put

■The MSCI Turkey Standard Index will continue to include Astor Enerji; Arçelik (ARCLK) and Katılımevim (KTLEV) remain unchanged.

Portfolio Rebalancing: What the Shift Means for Investors

■Index weight adjustments will force fund managers to rebalance their portfolios.

■Small‑cap liquidity may rise, potentially boosting short‑term volatility.

■International funds can reassess new alpha sources in Turkey through this revision.

Murat Yıldız: "This shift will reshape liquidity flows toward small‑cap stocks, creating opportunities for investors focused on long‑term fundamentals."