The UAE and Qatar with their strong economic fundamentals will stand out among the emerging markets in terms of economic growth and market performance, according to Fidelity Worldwide, a global asset manager.
“The GCC was amongst the stand-out emerging market economies over the last couple of years as global investors became more discriminate in picking the ‘winners of tomorrow’. Going forward, the region’s economies will be further supported by strong structural growth and increased government spending on infrastructure and social sectors,” said Tom Stevenson, investment director Personal Investing at Fidelity Worldwide Investment.
Global macroeconomic trends and market trends will have a significant impact on the GCC economies and asset price trends, according to Fidelity, reported Gulf News daily on Monday.
The inclusion of the UAE and Qatar Markets in the MSCI is seen as a testament of the intrinsic strength of these markets. “Local markets have performed strongly over the past year due to the improving fundamentals of the economy and the renewed interest of foreign investors. The inclusion of 19 stocks from the UAE and Qatar in the MSCI Emerging Market index this month was an indication of how much this region has developed in a short period of time,” Stevenson said.
Source : Qatar News Agency