Pakistan Strategy: MSCI Quarterly Index Review; No change in main constituents expected
- MSCI will be releasing the results of the MSCI August 2020 Quarterly Index Review on Aug 12, 2020.
- Announcement will be made available shortly after 11 p.m. Central European Summer Time (CEST), i.e. 2 a.m. Pakistan Standard Time (PST) on Aug 13, 2020.
- We expect no deletions or additions of constituents in MSCI Pakistan Index under MSCI Global Standard Indexes.
- The existing constituents are Oil and Gas Development Company (OGDC), MCB Bank (MCB) and Habib Bank (HBL).
- We estimate Pakistan’s weight is likely to remain around the 0.02% mark.
- In the last review, the minimum criteria for EMs was reduced to US$1,400mn of Total Market Capitalization and US$700mn of Float Market Capitalization.
- Under the MSCI Global Small Cap Indexes, we highlight the possibility of inclusion of Bank Al Habib (BAHL) whereas Package Limited (PKGS) may see possible deletion.
- Pakistan has been part of MSCI Emerging Market (EM) owing to the Index Continuity Rule since May-2019. However, we do not expect any developments with respect to the Pakistan’s exclusion from MSCI EM.
Topline Securities is one of the fastest-growing brokerage houses in Pakistan. It has strong Equity Brokerage, Economic/ Equity Research, Commodity Trading and Corporate Finance & Advisory functions.
Topline Securities has been endowed with numerous awards by renowned international financial organizations. The highlights of which consists of the award for ‘Best Local Brokerage House of Pakistan’ by Asiamoney Brokers Poll (the largest Asia-focused equity services provider poll) in 2016 and ‘Best Equity Brokerage House’ by CFA Society Pakistan in 2015.
Previously, Topline Securities held the title for ‘Best Brokerage House’ for 4 consecutive years (2011-2014) by Asiamoney Brokers Poll. Other awards include the ‘Best Salesperson’ award by Asiamoney for 6 consecutive years (2011-2016), the ‘Arabia Fast Growth 500’ award and ‘Pakistan Fast Growth 100’ award in 2012 and 2013 by AllWorld Network.
JCR-VIS, a credit rating agency providing independent rating services in Pakistan has assigned initial rating of “A-2” for short term and “A” for long term to Topline Securities. Topline Securities is registered as Underwriter, Book Runner and Research Entity with Securities & Exchange Commission of Pakistan (SECP).
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.