Mattias Martinsson, CEO of Tundra Fonder, an emerging markets fund based in Sweden, has expressed confidence in Pakistan as a long--term investment destination. Talking to reporters on Thursday Martinsson said that his company was investing in Pakistan capital market on long-term basis.
Later, he visited the Karachi Stock Exchange (KSE), along with Javed Anwar Khan, Commercial Counsellor, Embassy of Pakistan, Stockholm. He was welcomed by Muneer Kamal, Chairman KSE and Nadeem Naqvi, Managing Director KSE. Farrukh Ansari, Former CEO of Saudi Pak Leasing Company was also present on the occasion.
Tundra Fonder has recently launched a Pakistan dedicated Fund in Sweden, and is planning to extend its distribution to other Nordic countries soon. Martinsson has been visiting Pakistan since 2005 and has good insight on the economy and companies listed on the KSE. During their discussion, Martinsson expressed confidence in Pakistan as a long-term investment destination. It was not just the potential of a large population and high caliber entrepreneurial and managerial class but also the advanced infrastructure and risk management capacity of the Capital Market, which attracted his interest in Pakistan. "Investors in Nordic region are not aware of the opportunities present in this country," said Martinsson. Through this fund, Martinsson wants to raise Pakistan's profile in that region. He commended the Pakistan Consulate in Sweden for co-operating and facilitating this effort.
Kamal thanked Martinsson for showing interest in the Pakistan market and assured him of full co-operation from the Karachi Stock Exchange in raising Pakistan's profile in the Nordic Region. Kamal highlighted the fact that despite economically challenging times, government policy remained pro-business. While there were short-term pressures on government finances, policymakers were coming around to the view that only by supporting and facilitating the private sector, could sustainable growth and employment be generated. Nadeem Naqvi highlighted his experience as the Advisor to the former Morgan Stanley Pakistan Investment Fund and stated that fundamentals based portfolio investment had provided solid return to patient investors in the past and had the potential of doing the same in the future.
He pointed to the tremendous growth in the retail sector with much of it being undocumented. As this sector comes under the ambit of documentation going forward, significant opportunities for above average returns would likely open up for early investors. There were also emerging opportunities in export oriented sectors that foreign investors should keep an eye out for, both in the primary market (future IPO's) and the secondary market. The government was also now moving more actively towards divestment of its shares in Public Sector Enterprises through primary and secondary offerings in local stock markets, said Naqvi. This would help increase the depth and liquidity of domestic bourses.
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