|ELIXIR SECURITIES SHOWCASES PAKISTAN'S FINEST|
CORPORATES IN NEW YORK
Pakistan Capital Market Day in New York
organized by Elixir Securities
New York, March 5, 2013: Elixir Securities and Credit Suisse jointly conducted a Pakistan Capital Markets Day in New York.
Aimed at providing global fund managers with deeper insight into some of Pakistan's hi-growth sectors, the extremely well attended event attracted a wide range of investors with focus on emerging and frontier markets.
The Pakistan delegation comprised of senior team members of Elixir Securities and top management of Pakistani companies, representing Banking, Fertilizer, Cement, Food, Chemicals and Energy sector.
Some of the key themes widely discussed between the delegation and investors included the possible outcomes of the upcoming election and growth opportunities. Pakistan's retail potential, infrastructure development, high returns in the energy sector and turn around stories in the banking, cements and fertilizer sectors generated excitement amongst investors, ranging from traditional long only funds to region specific hedge funds.
"I was truly amazed at the level of interest we saw. Investors are not only looking beyond the political noise we see in the media, they are in fact deeply plugged into the impressive numbers that corporate Pakistan has been delivering for 5 years. The questions were pointed and their understanding of our market was impressive. A large majority of those who attended have expressed interest in visiting Pakistan this year. We expect huge flows," said Junaid Iqbal, CEO of Elixir Securities.
"It is frustrating the media attention which Pakistan gets for the violence and political noise. The bottom-up stories are incredible, but the noise makes Pakistan a difficult top-down investment case. My boss find it difficult to connect the growth of Engro Foods and the bombs going off at the same time" said one of the participating fund managers.
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