Aug
2015
TUNDRA FONDER – MONTHLY LETTER JULY 2015
Frontier markets gave up 0.6% (in SEK) in July, with large differences between individual countries. Equity markets in oil exporting countries like Nigeria and Kazakhstan fell sharply, while oil importing…
Jul
2015
TUNDRA FONDER – MONTHLY LETTER JUNE 2015
Apr
2015
Tundra Fonder – Monthly Letter March 2015
Frontier markets rose 0.6% (in USD terms) during March and hence outperformed emerging as well as developed markets. As usual, the return of the individual markets varied substantially. Nigeria and…
Mar
2015
Tundra Fonder – Monthly Letter February 2015
• February was characterized by rising risk appetite globally. Frontier markets were no exception and rose 4% in SEK terms during the past month. • The Pakistani equity market fell…
Feb
2015
TUNDRA FONDER – MONTHLY LETTER JANUARY 2015
In January crossed SEK 2 billion (USD 240 million) in assets under management for the first time ever. We are grateful for the trust investors have shown us and are…
Jan
2015
TUNDRA FONDER – MONTHLY LETTER DECEMBER 2014
We can add another year to the history books. Frontier markets ended 2014 with a return of 17.4% in SEK terms (MSCI Frontier Markets xGCC Net). The past year became…
Dec
2014
TUNDRA FONDER – MONTHLY LETTER NOVEMBER 2014
• Frontier markets fell for a second month in a row in November (MSCI Frontier Markets xGCC Net – 4.4% in SEK). Nigeria, the largest frontier market globally, continued to…
Nov
2014
Tundra Fonder – Monthly letter October 2014
Please find below our monthly letter for October 2014. During the month Tundra Pakistan fund celebrated its third anniversary. October 14th 2011 the world’s first actively managed Pakistan fund run…
Oct
2014
Tundra Fonder – Monthly Letter September
While traditional emerging markets struggled in September (MSCI Emerging Markets Net fell 3.7% in SEK), frontier markets returned 5.0% (MSCI Frontier Markets xGCC Net).Tundra Pakistanfond was best among our funds…
Sep
2014
TUNDRA FONDER – MONTHLY LETTER AUGUST 2014
August ended as the third month this year with negative returns from the frontier markets (excluding the Middle East) as MSCI Frontier Markets xGCC fell 1.1% in SEK. Individual countries…