SHUAA Capital, the leading GCC financial services institution, is pleased to inform the investment community that it is among the UAE companies to be included in the FTSE Global Equity Index Series effective yesterday. FTSE announced last week that it has classified the UAE as a Secondary Emerging Market. Companies that have met FTSE's screening criteria, including SHUAA Capital, will be included in FTSE's Global Equity Index Series from 20 September 2010.
This decision will directly impact 'passive' emerging markets investors tracking the FTSE Emerging Markets indices who will now seek exposure to the UAE. In addition, many 'active' global emerging markets investors and discretionary portfolio managers will now be allowed to place UAE stocks in their investment universe.
Sameer Al Ansari, Chief Executive Officer of SHUAA Capital commented:
"This is the first time that a global index provider upgrades the UAE from 'frontier market' to 'emerging market' status, and we are particularly pleased that SHUAA Capital will be one of the UAE's FTSE Global Equity Index series constituents. The FTSE classification as Secondary Emerging Market places the UAE on a level with China, India and Russia. For investors worldwide, we expect that this positive move will raise the awareness and attractiveness of UAE listed companies, including SHUAA Capital, which are currently valued at irrationally depressed levels despite some of the strongest fundamentals globally."
