6
Nov
2014
Monthly updates, News
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 by a foreign fund manager was launched. Since then the fund has risen 137%, beating its benchmark (MSCI Pakistan net) by 47%.

– Frontier markets fell 2% (SEK) as a result of weak performance by oil producing countries (foremost Nigeria and Kazakhstan)

– As the oil price touches 5 year lows several of the oil importing Asian frontier markets as Bangladesh, Sri Lanka and Pakistan rose throughout the month.

– Pakistan also benefitted from further de-escalation on the political front as PAT withdrew its people from the sit-in in Islamabad.

Read the full letter here

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