SHUAA Capital, the leading GCC financial services institution, said today 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.
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