Jun 19 2011 |
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UAE eyes market upgrade
Sunday, Jun 19, 2011
Gulf News
Dubai: The UAE will learn this week whether it will be upgraded to emerging market status by index compiler Morgan Stanley Capital International (MSCI).
Analysts say that the decision, which is due to be made public on Tuesday, could open the UAE’s three bourses — the Dubai Financial Market ( DFM ), the Abu Dhabi Securities Exchange ADX ) and Nasdaq Dubai — to multi-billion dollar funds and would rank the country alongside emerging markets China, India and Brazil.
MSCI indices
MSCI global equity indices serve as the basis for over 400 exchange traded funds throughout the world. Many analysts believe the UAE has satisfied most of MSCI’s requirements for an upgrade, but also say much will depend on whether there is demand for such a move by foreign investors and fund managers.
By Kevin Scott, Staff Reporter
© Gulf News 2011. All rights reserved.
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