Strategy Espresso

Large-scale reclassification within three GICS sectors in September 2018 resulted in significant index rebalancing, the launching of new funds and increased investor activity. S&P index changes took place on 24 September 2018, the most important of which was to the renamed Communication Services sector (previously known as Telecommunications Services). The new sector held a grouping of dominant interactive media stocks, wellknown media and entertainment providers, and large telecom firms.