11
Sep
2015
Monthly updates, News
TUNDRA FONDERS MONTHLY UPDATE AUGUST 2015

August turned out to be a depressing story for equity investors worldwide. The fact that frontier markets fell (-5% in SEK terms) less than emerging as well as developed markets was not much of a consolation.

  • The month was characterized by the events in China. In the aftermath of China’s decision to depreciate the RMB, Vietnam and Kazakhstan as well as Sri Lanka in early September depreciated their currencies.
  • Frontier markets are now trading at 10.5x P/E 12m forward, a level last observed in 2012.

Read the entire update here.

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