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Visa, Mastercard and a boost for thematic ETFs

Definitions matter, as ESG investors will surely be the first to tell you. And some of these could be due a change in a different, less closely watched, part of the funds universe.

MSCI and S&P Dow Jones Indices are currently consulting on potential changes to the industry classifications used in the indices they construct (and many passive funds follow). One notable idea under consideration would be to shift payment and transaction processing names such as Visa (US:V), Mastercard (US:MA) and PayPal (US:PYPL) from the information technology sector to financials.

Not exactly one to get the heart racing, is it? Yet it does matter when it comes to sector exchange traded funds (ETFs).

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