Three words are likely to dictate the decision-making of fund managers and stock market brokers this week: emerging market status.
With just weeks to go before the index compiler MSCI revisits a decision on whether to include the UAE and Qatar on its emerging markets index, brokers and fund managers are also starting to position themselves for any announcements.
"[This] week, we are likely to see updates from local exchanges concerning measures to boost their eligibility for an upgrade," said David Verghese, a fund manager at Emirates NBD's asset management arm, which manages a total of US$1.6 billion in assets. He said with the majority of first-quarter numbers in, attention had now turned to the imminent decision on whether to upgrade both countries to "emerging market" status.
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