15
Dec
2016
Monthly updates, News
TUNDRA FONDERS MONTHLY UPDATE NOVEMBER 2016

Sustainability has for a long time been an integrated part of how Tundra invests. In August 2015, we launched the world’s first frontier market fund applying exclusion of companies not meeting the fund’s requirements of a sustainable business approach, Tundra Sustainable Frontier Fund. We are now taking the next step by screening all our funds for norm violations. In addition, Tundra Sustainable Frontier Fund will going forward not invest in companies extracting fossil fuels or companies involved in production where the raw material mainly consists of fossil fuels.

Frontier markets (MSCI Frontier Markets xGCC Net) fell 1.2% (SEK) during November.

  • The unexpected Trump election victory was the dominating event across global equity markets including frontier markets. With the exception of Argentina (-7%), the negative reaction was however muted with domestic frontier markets investors being buyers at several Asian frontier markets.
  • The Pakistani equity market reached a new all-time-high rising 5.8% (SEK) as previous sources of market concern petered out.
  • Best among Tundra’s funds during the past month was Tundra Pakistan Fund rising 6.7%.

Read the entire update here.

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