The Abamco-30 Index, Pakistan's first tree float market capitalisation-based Index, is going live and accessible on the Website (www.abamco.com/a30). According to a press release issued here on Wednesday, Abamco-30 is the first index of its kind in Pakistan, which has been especially engineered to measure market performance from a rational investment perspective.
Given the fact that holding structures in Pakistan are significantly different from the western world due to intricate group holding, large government holdings and significant long-term holdings by individuals, the market representation has to be trimmed to remove certain distortions.
Such distortions are eliminated by the Abamco-30 Index, which represents only the investable portion of the stock market and is calibrated further to include stocks of financially sound entities with realistic liquidity values and fair prospects of future growth.
Abamco Limited is the asset management arm of the J S Group and is a joint venture with International Finance Corporation, part of the World Bank Group and AMVESCAP plc, the largest European fund management company with over $360 billion in assets under management.
Abamco Limited currently manages investments in excess of Rs 16.5 billion on behalf of hundreds of institutions and thousands of individuals through nine mutual funds.-PR
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