Cheers @Dabbler009 - I have also looked into this a bit...

Cheers @Dabbler009 - I have also looked into this a bit previously in this post, "The obvious big funds which directly track MSCI Australia Small Cap or some composite of that index (taking Emerald Resources, which was added in February to MSCI Australia Small Cap, as a crude estimate of the fraction of shares outstanding they'll buy) would be iShares Core MSCI EAFE (holds ~0.4% of shares out), iShares MSCI EAFE Small-Cap (~0.3%), and Vanguard MSCI Australian Small Companies (~0.2%)".

I believe that these other two indices (Core MSCI EAFE, EAFE Small-Cap) both also include Aussie small caps (let me know if you have found otherwise), and my crude estimate was that collectively these three funds would be acquiring ~1% of shares, or around .6m shares, $12m worth.

As I mentioned in our discussion here, we may not see a particularly dramatic price move on the day (31st May), as arbitrageurs tend to front-run the ETF inclusions, but certainly the accumulation of shares by index trackers is a very positive development for the long term.