name: Europe and Australia Far East
The European Australia Far East Index (MSCI EAFE) is a stock market index designed to measure the performance of stock markets in developed markets outside the United States and Canada. It is maintained by MSCI, a provider of investment decision support tools. The acronym EAFE stands for Europe, Australasia and the Far East.
The Euro-Australian Far East is market capitalization weighted (meaning that the weight of securities is based on their respective market capitalization). It first ranks each stock in the investable field by market capitalization from largest to smallest. The largest 70% will constitute the MSCI EAFE large-cap stock (new index), the largest 85% will constitute the MSCI EAFE standard, and the largest 99% will constitute the MSCI Investable Market Index (‘IMI’). The 71st to 85th percentiles represent MSCI EAFE mid-cap stocks, and the 85th to 99th percentiles represent MSCI EAFE small stocks.
Europe, Australia and the Far East include selected stocks from 21 developed markets, but excludes stocks from the United States and Canada. The index has been calculated since December 31, 1969, and it has become the oldest truly international stock index. It is probably the most common benchmark for foreign equity funds in the United States.
Europe, Australia, Far East includes company stocks from these countries: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland ,United Kingdom.
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