First Pakistan fund set for launch

The Melchior Selected Trust Pakistan Opportunities Fund (MSTPOF), which is open to UK investors, will be managed by Dalton Strategic Partnership LLP and advised by KASB Funds in Karachi. Pakistan’s attraction as a frontier economy – with sustainable economic growth of 7% per year – is being fuelled by its strategic geographic position as a trade corridor between the Middle East, Central Asia, China and India, Melchior says. Compared with Asian and Middle Eastern markets, the Pakistan equity market is relatively inexpensive, with a Price Earnings multiple of less than 10 times and a marke...