EFG Hermes, the leading investment bank in emerging and frontier markets, in collaboration with Boursa Kuwait, the oldest financial market in the Golf Cooperation Council (GCC), concluded the virtual investment conference for its eighth institutional day entitled “The Stars Converge to Receive the latest emerging markets ”, over four days during the period From 23 May to 26 May.
This virtual event was held with the participation of representatives of the executive management of approximately 13 Kuwaiti companies, as well as more than 175 international investors from more than 95 of the most prominent global institutions with a total assets under management of $ 2 trillion. The conference aims to provide an opportunity for the investment community to exchange visions and ideas on some promising opportunities in the Kuwaiti market.
The state of Kuwait continues to reap the benefits of upgrading the stock market indices during 2019-2020, as it is the most followed index in emerging markets, which has attracted the attention of investment fund managers to the Kuwait market and led to the growth of assets under management with nearly $ 2 trillion. The “first” market index of Boursa Kuwait also achieved a total annual return in US dollars of 17% over the past five years, which outperformed the annual return of the MSCI Emerging Markets Index of 6%.
Noura Al-Abdulkarim, Head of Markets at Boursa Kuwait, said at the event: “Boursa Kuwait continues its efforts to provide new partnership opportunities for investors and exporters through its eighth institutional day, in its virtual image, presented by “EFG is organized. Hermes, to reflect the role of the Stock Exchange in contributing to the growth of the market and the national economy.”
In turn, Mohammed Obaid, Co-CEO of Investment Bank at EFG Hermes, expressed his congratulations on holding this virtual conference in collaboration with strategic partner Boursa Kuwait, which is a constantly evolving financial market whose value is below the major global stock exchanges that deserve to be followed.
He stressed that emerging markets are the best choice for investors during the current period, given expectations that the growth of the world economy will slow in 2022, driven by a number of other factors, including economic reform measures and attractive stock valuations.
Obaid also pointed out that the attention of investors in the Kuwaiti financial market is due to the clear recovery of consumer patterns after the complete closure during the year 2020 against the background of the spread of the Corona virus, and the possible initial offers during the coming period, in addition to the rise in oil prices.
He added that the initiatives taken by the government to direct further market reforms to improve liquidity levels, such as the addition of margin trading, have also contributed to the consolidation of the leading position of the Kuwaiti market.
On the other hand, Ahmed Wali, head of the securities brokerage sector at EFG Hermes, pointed to the growth of trading volume in Boursa Kuwait in light of the improvement in the appetite of individual investors and the attention of foreign investors for that promising market. , where the total value of trading has risen to $ 210 million since the beginning of the year, 2022, compared to $ 179 million in 2021 and $ 144 million in 2020.
Wali added that the record rises in oil prices and Russia’s scrapping of large emerging market indices led to an increase in foreign interest in the market, with total purchases from foreign investors reaching $ 576 million during the first quarter of 2022, as well as $ 4 , 2 billion more than in the past three years. Wali emphasized that Boursa Kuwait has transformed into one of the leading regional stock exchanges accepting the highest international standards, as well as its firm belief in the role of the private sector in promoting economic development in the country, and expects more strong results during the coming period.
The series of institutional days for Boursa Kuwait aims to market the companies listed on the Kuwaiti stock market to the investment community and the investment opportunities it offers, through the meeting of listed Kuwaiti companies with major investment and financial asset management companies worldwide, with the emphasis on the financial strength and business strategy of these companies to provide a deeper insight into the benefits of investing in the Kuwaiti stock market.
Since its inception, Boursa Kuwait has worked to establish a reliable stock exchange based on credibility and transparency, creating a flexible financial market with liquidity, and an advanced trading platform, in addition to developing a comprehensive set of reforms and improvements that it has risen to the highest regional and international levels.
The company has also implemented many market reforms and introduced many products over the past few years as part of its comprehensive plans to develop the market.
The convening of this conference comes in the wake of a series of successful virtual conferences organized by EFG Hermes since the outbreak of the Corona virus, which takes advantage of its groundbreaking innovative platform to provide an opportunity for the international investment community to with representatives of large companies and institutions to exchange opinions and views and benefit from the opinions of experts on the most important topics of interest Capital markets on the world stage.
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