LIMA, Peru, Sept. 14, 2015 /PRNewswire/ -- Today the meeting with MSCI Inc. was held in New York, in which representatives of both public and private sectors participated. They discuss about the current market consultation referred to the reclassification of Peru from emerging to frontier market.
"The reception of the Peruvian position has been positive on the side of MSCI; however the consultation process launched by them also includes the opinion of leading fund managers worldwide. Therefore it is necessary to share our view points with the investment community while this process continues," emphasized Christian Laub, Chairman of the Lima Stock Exchange.
During the meeting, MSCI highlighted the successful economic performance and the reforms carried out by Peru in the last twenty years, and took note of the efforts conducted by the government and the Lima Stock Exchange to increase liquidity recently. The "joint effort" by the public and the private to develop the capital market was highlighted by MSCI during the meeting. The significance of the "Mercado Integrado Latino Americano" (MILA) and the Pacific Alliance was also highlighted during the meeting by the government and the private sector as a positive contribution to the investment options within and outside the region.
The meeting was attended by a delegation led by Minister of Economics and Finance, Mr. Alonso Segura and including Mr. Modesto Julca, President of the Economic Committee of Congress; Dr. Lilian Rocca, Chairperson of the Capital Markets Superintendency; Mr. Renzo Rossini, General Manager of the Central Reserve Bank of Peru; Mr. Christian Laub, Chairman of the Lima Stock Exchange; Mr. Francis Stenning, Chairman of CAVALI (local CSD); Mr. Jose Antonio Blanco, Chairman of InPeru; Mr. Paulo Comitre, Chairman of Procapitales; Mr. Carlos Gonzalez-Taboada, Vice Chairman of the Association of Pension Fund Administrators of Peru and Mr. Diego Castro Securities Country Manager Peru Citi Markets & Securities Services.
It should be noted that the consultation process is ongoing and will conclude by September 30th. MSCI will continue to gather information from large institutional investors.
As reported, the next steps included, (1) completing further technical information required by MSCI related to most recent measures taken by Peruvian authorities related to the Capital gains tax, Market Makers, and Algorithmic trading, among other, and (2) reaching global institutional fund managers to ensure that they understand better the situation of the Peruvian market and the active actions implemented and under development. Besides completing the required technical information, while the consultation process continues open, the Lima Stock Exchange has organized a couple of teams the executive teams of major fund managers in the USA and UK to discuss the matter and bring the discussions forward toward a positive result for the Peruvian market.
Although is an ongoing effort, the Peruvian delegation and the BVL, remain confident that a positive result will be accomplished.
SOURCE Bolsa de Valores de Lima