There was plenty of talks and articles about upgrading Pakistan to emerging market status by MSCI. It’s now official – read here the MSCI’s press release. Here’s what Bloomberg wrote about it with some words from Mr. Mattias Martinsson from the Sweden based Tundra Fonder:
Pakistan’s stock market, which has risen the most in Asia this year, could be in for an additional boost after MSCI Inc. said it will include the nation’s equities in its benchmark emerging-market index for the first time since 2008.
The index provider said the MSCI Pakistan Index will be reclassified to emerging-market status, coinciding with its May 2017 semi-annual index review. EFG Hermes said last month that an upgrade could lure around $475 million of inflows by the middle of next year. The country’s benchmark index rallied the most in five weeks before MSCI’s decision late Tuesday in New York.
“Pakistan is moving into acceptance: the nation has what it needs, a decently functional state and decent stability,” Mattias Martinsson, the Stockholm-based chief investment officer at Tundra Fonder, which holds $200 million of Pakistani equities, said before the announcement.