BNN Bloomberg (CAN) reported, “Apple Inc. and Microsoft Corp., already dominant in technology-stock indexes, are about to become even more so,” after S&P Global Inc. and MSCI’s overhaul of sector benchmark takes effect on Monday. Bloomberg notes, “Payment companies – including Visa Inc., Mastercard Inc., and PayPal Holdings Inc. – will be moved into indexes tracking financial companies, while payroll processors like Paychex Inc. and Automatic Data Processing Inc. will be classified as industrials,” which, while lessening tech’s volume in the S&P 500, will “also making the remaining companies in the industry index more influential,” including Apple and Microsoft which already account for 46% of volume. Leigh Todd, lead portfolio manager of growth equities at Voya Investment Management, comments, “You have to think about how you manage risk given the concentration, since it is very challenging for tech to outperform if Apple and Microsoft aren’t holding in. You want to ensure every company you own can contribute to your returns, and you don’t want to take outsize risk by having extreme concentrations in a small number of names.”