18
Oct
2016
Monthly updates, News
TUNDRA FONDERS MONTHLY UPDATE SEPTEMBER 2016

After a trendless July, August and first half September, frontier markets broke out towards the end of the month and ended September at +3.2% (SEK). Frontier markets hence outperformed emerging as well as developed markets.

  • MSCI announced its intention to keep Nigeria in the frontier market index for the time being despite the challenges foreign investors have faced in repatriating capital. Nigeria does however remain on the watch list for a future exclusion.
  • Pakistan suffered a dramatic month end as media suggested that the Kashmir tensions between Pakistan and India had escalated to a level where Indian soldiers performed surgical strikes on Pakistani soil. The information later turned out to be false and the market quickly recovered.
  • Best return among Tundra’s fund in September came from Tundra Rysslandsfond, +3.1% (SEK).

Read the entire update here.

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