KARACHI: 30 October, 2014 – BMA Capital Management Limited, Pakistan’s premier financial services group concluded a four day Road Show in Hong Kong today.
BMA team, led by the CEO, Moazzam M. Malik, met with more than fifteen Tier 1 Global Investors and International Brokers to raise awareness about the Pakistan Opportunity, Recent Developments, Macroeconomic Outlook, Privatization Program and Capital Market Strategy.
Peaceful progress through the recent political turmoil, pace of economic revival and the privatization program remained the key areas of interest for international investors. “Now that the sit-ins and protests have cooled down, International Investment community appears to have a greater conviction on the strength of Pakistan’s institutions. They now do not see a possibility of major political shake-ups as much as they did ten years ago,” said Azfer Naseem, CFA, Director Research & Business Development at BMA. “Fund Managers like the Banking and Oil sectors and are now beginning to develop interest in the Manufacturing and Consumer Cyclicals to capitalize on the revival of economic growth,” he added.
Bilal Athar, Head of Equities was optimistic about investor appetite in the upcoming secondary offerings by the government. “Large funds want to take positions with minimal impact cost and the upcoming GDRs of OGDC and HBL offer an ideal opportunity for such fund managers. They are actually looking forward to it.” Omair Chaghtai, Head of International Sales at BMA Capital added that execution with a minimal impact cost has recently become a major challenge in trades by foreign funds. “That’s the reason why block trades have become popular with foreign institutions as well.”
Moazzam M. Malik, CEO of BMA Capital considers Road Shows and Corporate Access Events to have played a major role in Pakistan’s return to international markets. “Pakistan is a country of headlines and bottom lines. Unfortunately, we have had a larger share of negative headlines in the last five years which made Pakistan a weak top down case. You had to go out and take the investment case to an investor’s table. But now, things are changing and funds are more focused on the positives on ground.”