Standard & Poor’s (S&P) and Morgan Stanley Capital International (MSCI) created a consistent set of global sector and industry definitions, which is now the accepted framework by which to classify companies worldwide. GICs was introduced in Australia in July 2002.
Importantly, it changes over time; an annual review by MSCI and S&P ensures the GICS sectors remain an accurate reflection of the marketplace.
The GICS structure comprises 11 sectors, 24 industry groups, 68 industries, and 157 sub-industries. Every company in the world is classified into one of these sectors:
> Consumer Discretionary
> Consumer Staples
> Health Care
> Information Technology
> Real Estate
> Telecommunication Services
In Australia and overseas there are indices that track companies in each GICS sector.