Pakistan Stock Exchange (PSX) held a gong ceremony on Monday to announce the launch of the Alfalah Consumer Index Exchange Traded Fund (ACIETF). The launch of this ETF marks the listing of the sixth Exchange Traded Fund (ETF) on PSX.
The participants of the ceremony included Managing Director (MD) & Chief Executive Operations (CEO) PSX Farrukh H. Khan, CEO Bank Alfalah Ltd Atif Bajwa, CEO Alfalah GHP Investment Management Limited Nabeel Malik and senior management of the three organizations.
Speaking at the occasion, MD PSX Farrukh Khan stated, “ETFs are an innovative product in global capital markets and it is exciting to have the sixth ETF being listed on PSX. Alfalah Consumer Index ETF is the first consumer-focused ETF on PSX and it will track the 13th index on the market, the Alfalah Consumer Index. This is a valuable addition to the ETF sector of the bourse which is sure to attract retail and institutional investors. I congratulate Alfalah Investments on launching this innovative new ETF.”
He further added, “Taking this opportunity to open the trading day with the launch of the newly added ETF on the bourse, I would emphasize upon brokers and Asset Management Companies (AMCs) to educate and promote ETFs to their customers and investors. Particularly, I would emphasize upon brokers to train their sales teams so they can advise investors about the advantages of investing in an ETF. An investor can get diversified exposure to the stock market by a single trade. This is both cost-effective and simple.”
CEO Bank Alfalah Limited Atif Bajwa said, “It is a pleasure to be here at the launch of the new ETF, the Alfalah Consumer Index ETF, which comes under the Alfalah family. The consumer-focused ETF is something that we are very excited about. Bank Alfalah and Alfalah Investments which are part of the Alfalah family will continue to play a pioneering role in bringing new products and innovation in the market.”
Speaking at the launch, CEO Alfalah GHP Investment Management Limited (AGIML) Nabeel Malik, said, “In a bid to offer innovative products, Alfalah Investments has designed Alfalah Consumer Index ETF. We believe this ETF will provide investors with a unique investment avenue to play the country’s promising demographics. ACIETF focuses on sectors that are direct beneficiaries of growing consumer demand in the country which is anticipated to strengthen further in wake of economic recovery and sustained GDP growth. Pakistan’s GDP growth has always been driven by strong local demand due to very favourable demographics where a young and robust population takes the driving seat on the consumption side. This ETF therefore will provide a concentrated avenue to investors that are planning to play the consumer demand story of the country. This is a key milestone in Alfalah GHP Investments’ journey, as with this addition, we will be managing funds in the majority of product categories thus offering our investors a variety of investment options to choose from.”
An ETF is a type of fund that holds a basket of securities that generally tracks an underlying Index. Because there are multiple scrips within an ETF, they can be a popular choice for investors seeking diversification. ETFs may be a sound option of investment for investors who lack the time or the financial acumen to make lucrative stock picks in a cost-effective manner.
