Oliver Bell, manager of T. Rowe Price's Middle East & Africa Equity and Frontier Markets Equity funds, explores the myriad investment opportunities open to the West following the landmark nuclear deal.
The West's historic agreement to end the sanctions programme against Iran is poised to provide a huge boost to the Iranian economy, while opening up a major and exciting outpost for emerging and frontier investors, such as T. Rowe Price. The Tehran Stock Exchange, established in 1967, has 316 constituents – with a US$26bn free-float on a total $103bn market cap. Without any foreign participation, the market on average trades $100m per day, but has been as high as $400m. It could make up 25% of the MSCI Frontier index if it were to fully open up to foreign investors. What the Iran n...
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