Morgan Stanley Capital International Inc. is developing a new family of U.S. equity indices.

According to MSCI, the new index series will reflect the full breadth of investment opportunities within the U.S. equity markets by capitalization size, value/growth investment styles and sector groups. The new index family will be introduced in phases beginning in early 2003.

The new U.S. indices will feature large, mid and small cap indices that aggregate into an investable market index. A micro cap index will also be developed that, in combination with the investable market index, will aggregate into a total market index.

The benchmarks will define value and growth styles independently of each other using a new multi-factor approach, and sector indices will be calculated based on the firm’s Global Industry Classification Standard.

“MSCI is developing this product in response to significant client demand for a U.S. equity index series that features the disciplined approach to index methodology, data integrity and level of service that MSCI brings to international equity investors,” said Henry Fernandez, president and CEO of MSCI, in a news release.