Pakistan Stock Exchange Role of PSX in providing
Description: Pakistan Stock Exchange Role of PSX in providing equity debt March 9, 2019 Presentation by Richard Morin, CEO PSX at a glance 546 listed companies 7 indices Market capitalization of PKR 7.69 trillion 233,000 retail investors 230 active
Related Topics
Download Presentation
"Pakistan Stock Exchange Role of PSX in providing" is the property of its rightful owner. Permission is granted to download and print the materials on this website for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Presentation Transcript
slide1. Pakistan Stock Exchange Role of PSX in providing equity & debt March 9, 2019 Presentation by Richard Morin, CEO<br>
slide2. PSX at a glance 546 listed companies 7 indices Market capitalization of
PKR 7.69 trillion 233,000 retail investors 230 active brokers *As on 31st December 2018 Pakistan Stock Exchange is the national bourse of Pakistan.<br>
slide3. Diversity of listed companies on PSX *As on 31st December 2018<br>
slide4. Historic annualized returns Rates annualized
PIB 10YR tenure average
T-Bills 6M tenure average
Weighted average deposit rate SBP
Inflation is 2012-2018 average 2009 - 2018<br>
slide5. Pakistan vs emerging markets Source : MSCI 31st December, 2018<br>
slide6. Pakistan vs emerging markets Source : MSCI 31st December, 2018<br>
slide7. PSX vs peers Source: WFE Statistics, World Bank, PSX Research
Data as of December 31, 2018<br>
slide8. Economy 70% (?) undocumented
Capital sits in informal sector; cannot come to capital markets
Over investment in real estate
Pakistanis priced-out of real estate while companies are starved of capital
National savings scheme
Distortions impede capital market development
Pakistanis miss out on much higher long term returns on stock market
GOP pays extra Rs. 100 bn\year in interest
Economic growth suffers Structural issues<br>
slide9. Bond market micro structure
SBP as regulator, issuing agent and clearing agent
Only banks are primary dealers
Lack of transparency
Brokers business model
Clearing and non-clearing; brokers vs family offices\prop-trading houses
Fee for advice; Separately Managed Accounts
Mutual funds platform
In-house margin financing Structural issues<br>
slide10. Thank You<br>
slide2. PSX at a glance 546 listed companies 7 indices Market capitalization of
PKR 7.69 trillion 233,000 retail investors 230 active brokers *As on 31st December 2018 Pakistan Stock Exchange is the national bourse of Pakistan.<br>
slide3. Diversity of listed companies on PSX *As on 31st December 2018<br>
slide4. Historic annualized returns Rates annualized
PIB 10YR tenure average
T-Bills 6M tenure average
Weighted average deposit rate SBP
Inflation is 2012-2018 average 2009 - 2018<br>
slide5. Pakistan vs emerging markets Source : MSCI 31st December, 2018<br>
slide6. Pakistan vs emerging markets Source : MSCI 31st December, 2018<br>
slide7. PSX vs peers Source: WFE Statistics, World Bank, PSX Research
Data as of December 31, 2018<br>
slide8. Economy 70% (?) undocumented
Capital sits in informal sector; cannot come to capital markets
Over investment in real estate
Pakistanis priced-out of real estate while companies are starved of capital
National savings scheme
Distortions impede capital market development
Pakistanis miss out on much higher long term returns on stock market
GOP pays extra Rs. 100 bn\year in interest
Economic growth suffers Structural issues<br>
slide9. Bond market micro structure
SBP as regulator, issuing agent and clearing agent
Only banks are primary dealers
Lack of transparency
Brokers business model
Clearing and non-clearing; brokers vs family offices\prop-trading houses
Fee for advice; Separately Managed Accounts
Mutual funds platform
In-house margin financing Structural issues<br>
slide10. Thank You<br>