Cuba Screen - RiskMetrics Group Online User Resources - MSCI

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Global Sanctions MethodologyCuba ScreenOctober 2014CONTENTSCONTENTS ............................................................................. 2CUBA SCREEN ...................................................................... 3DEFINITIONS .......................................................................... 3TYPES OF INVOLVEMENT ............................................................................... 3OWNERSHIP ........................................................................................................... 4RESEARCH PROCESS OVERVIEW ............................... 4MONTHLY UPDATES .......................................................................................... 4ANNUAL UPDATES .............................................................................................. 4SOURCES ................................................................................................................ 4QUALITY ASSURANCE ...................................................................................... 5GLOBAL SANCTIONS RESEARCH FACTORS: CUBA .......................... 5Contact Us ........................................................................ 8Notice and Disclaimer ............................................................................................ 8About MSCI ESG Research ................................................................................ 8About MSCI ............................................................................................................... 8MSCI ESG Research© 2014 MSCI Inc. All rights reserved.Please refer to the disclaimer at the end of this document2 of 8msci.com
CUBA SCREENGlobal Sanctions MethodologyCuba ScreenOctober 2014MSCI ESG Research’s Global Sanctions Cuba Screen is designed to serve investors interested in screeningtheir investments for companies that are or have been involved with Cuba. The Cuba Screen enablesMSCI ESG Research clients to meet U.S. State legislated mandates specifically targeting publicly tradedcompanies that are involved or have had involvement with Cuba, as well as those mandates focused oninvolvement with countries designated as “State Sponsors of Terrorism” by the U.S. Department ofState. Cuba is on the U.S. Department of State’s “State Sponsors of Terrorism” list. The Cuba Screen canalso be used to meet general MSCI ESG Research client interests in screening their investments forinvolvement with Cuba.DEFINITIONSCoverage universe: All global equity issuers plus selected bond-issuing subsidiaries, selectedcorporate bond issuers, and selected government-owned entities that operate as corporations.Sample of U.S. states with anti-terror mandates that include Cuba: Arizona, Florida, Maryland,Massachusetts, Michigan, New Jersey, Tennessee, and VirginiaTYPES OF INVOLVEMENTMSCI ESG Research classifies a company’s involvement with Cuba as one of the following types:Equity InvolvementDirect involvement with Cuba, including:Operations with Cuba, including sales officesInvestment in joint venture concerning key sectors of the Cuban economyOwnership of/by a company that meets the equity involvement criteriaNon-Equity InvolvementIndirect involvement with Cuba, including:Imports good and services from CubaSale of products to Cuba directly or through agency, distribution, franchise, or licensingagreements with 3 rd partiesOwnership of/by a company that meets the non-equity involvement criteriaOther Involvement A company that meets the equity or non-equity involvement criteria, but has suspended therelated operationsNot IncludedCompanies whose involvement is strictly humanitarian or limited only to the provision ofgoods/services related to health, education, journalism, or religionNon-revenue generating activitiesIndirect revenue generating activitiesMSCI ESG Research© 2014 MSCI Inc. All rights reserved.Please refer to the disclaimer at the end of this document3 of 8msci.com
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Cuba Screen - RiskMetrics Group Online User Resources - MSCI

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