14
Jan
2016
Monthly Updates, News
TUNDRA FONDERS MONTHLY UPDATE NOVEMBER 2015

2016 started off dramatically for global equity markets to say the least with substantial sell offs – MSCI AC World had its worst start of a year in 18 years in EUR terms. Although frontier markets were not completely spared, they outperformed the global equity market in general (MSCI Frontier Markets xGCC Net -4.2%). In the Monthly Letter, you will find more on how major frontier markets such as Pakistan, Vietnam and Nigeria outperformed emerging markets also in December.

  • MSCI Frontier Markets xGCC ended December at -3.3% (EUR).
  • Frontier markets ended full year 2015 at -4.8%. It was the first time since MSCI launched frontier market indices that the asset class fell for two consecutive years in USD terms.
  • Tundra Pakistan Fund has now outperformed its benchmark index as well as generated absolute return four consecutive years.

Click here for the full Pakistan update and the Frontier Opportunities update.

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