Qatari fund says MSCI upgrade key to capital market growth
The lack of initial public offerings (IPOs) launched on Qatars stock exchange is an issue that should be tackled by the government, says Nicholas Wilson, chairman of the London-listed Qatar Investment Fund.
The government has to actively encourage family businesses, locally-owned state firms or aspects of state companies to launch IPOs, he told delegates at the Euromoney Qatar conference held in Doha on 10-11 December.
He added that since the fund was established in 2007, the Qatari exchange has come on leaps and bounds and the market has better depth, but noted that there are still a limited number of listed stocks when compared with other markets.
Tackling the liquidity problem so foreign investors can get a foothold will take a while, he said.
Earlier this year, Qatar was upgraded by the US-based index compiler MSCI from frontier to emerging market status. Wilson says this upgrade will help.
The move to emerging market [status] has huge implications in the long term, he says.
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