Report
Jerzy Kosinski, CFA ...
  • Pawel Wieprzowski, PhD

EME Strategy: MSCI August 2018 QIR predictions

The MSCI is due to announce the results of its quarterly index review (QIR) on 13 August 2018, after 11pm CET, and the changes will become effective from the 31 August close/3 September open. The MSCI will choose one of the last 10 business days of July for its price calculations for the coming index review (we do not know which one). Here is what we expect for our EME region:
1. MSCI Poland index: no changes.
2. MSCI Greece index: no changes.
3. MSCI Hungary index: no changes.
4. MSCI Russia: no changes.
5. MSCI Turkey index: no changes.
6. MSCI Czech Republic index: no changes.
7. MSCI Romania index: no changes.
Underlyings
AMREST HOLDING

AmRest is a holding company. Through its subsidiaries, Co. is an international fas-foods and casual dining restaurant operator in Central and Eastern Europe. Co. has been building a portfolio of well recognized power brands such as KFC, Pizza Hut, Burger King, Applebee's and Starbucks based on solid franchise and joint venture partnerships. Co. owns La Tagliatella brand which is being developed as Co. operated restaurants as well as franchised stores. Co. operates almost 700 category Quick Service and Casual Dining restaurants. Co. is based in Wroclaw and operates in Poland, Czech Republic, Hungary, Russia, Bulgaria, Serbia, Croatia, Spain, France and the United States.

Autohellas S.A.

Autohellas is a Hertz national franchisee. Co. is engaged in the rent-a-car segment, comprising of renting (short-term lease) and fleet management (long-term lease and fleet management) in Greece, Bulgaria, Cyprus, Romania, Serbia and Montenegro. Renting covers the needs of both individuals and companies for occasional, small duration rentals up to 1 year long.

Provider
Wood and Company
Wood and Company

WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.

A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.

Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.

We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.

Analysts
Jerzy Kosinski, CFA

Pawel Wieprzowski, PhD

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