Dalton SP to launch first Pakistan equities fund

Pakistan is one of the ‘frontier’ emerging markets that are gaining in popularity as investors look further afield for returns. Dalton says the country’s strategic position as a trade corridor between the Middle East, Central Asia, China and India has helped fuel the country’s 7% pa economic growth, and it has also benefited from its links with wealthy Middle East economies, with both foreign direct investment and workers’ remittances from the three million Pakistanis employed in the Gulf states accelerating. The Pakistan equity market has a 2008 P/E multiple of less than 10x and a dividen...