What is GICS?

Submitted by Share Trading on 21 May, 2009 - 14:16

What is GICS (Global Industry Classification Standard)?

GICS is an abbreviation for "Global Industry Classification Standard". It is a Standard and Poor’s/Morgan Stanley Capital International product created to standardise industry definitions. The Australian Securities Exchange (ASX) which oversees the Australian stockmarket contains 24 industry sectors unique to this country. GICS consists of 10 Sectors aggregated from 24 Industry Groups, 67 Industries, and 147 Sub-Industries currently covering over 27,000 companies globally.

Why have a GICS code in place? The standardised industry classification system helps foreign investors to examine opportunities in the Australian sharemarket and conversely allow Australian investors to compare stocks of the same industry classification. The standard aids helps the transparency and efficiency in the investment process.

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