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world bank report


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world bank report

  1. 1. NEW YORK, April 23, 2015 /PRNewswire/ -- Global X Funds, the New York based provider of exchange-traded funds (ETFs), today launched the Global X MSCI Pakistan ETF (NYSE Arca: PAK). The fund is the first US-listedETF to focus exclusivelyon Pakistan, providing investors with access to the largest companies by market capitalization in the country. Goldman Sachs has designated Pakistan as one of the "Next 11" economies – a group of large, fast- growing markets that are expected to be an important source of global economic growth and opportunity in the future.[1] In addition to being the sixthmost populous country in the world with over 196 millionpeople,almost 60% of Pakistan's population is under the age of 25[2].Pakistan is geographically positioned to benefitfrom the growing trade amongChina, India, Russia, Turkey and the Middle East. The country's Prime MinisterNawaz Sharif has also shown a commitment to strengthening its economy, lowering inflationand promoting stability since his election in 2013. "With the launch of the Global X MSCI Pakistan ETF, investors now have access to one of the largest, most liquid frontier market countries," said Jay Jacobs, research analyst at Global X Funds. As investors search globally for investment opportunities, frontier markets like Pakistan are increasingly garnering attention for their historically low correlations to developedmarkets and growth potential.