On June 1st, Pakistan was formally upgraded to emerging market status by MSCI. In June 2018, Argentina is a probable upgrade candidate and in 2-3 years it is realistic that…

Since we opened our office in Ho Chi Minh City last year, several of us from Tundra have had the opportunity to visit Vietnam. This report gathers some of our impressions on ESG-related…

This case report on Daewoo Express Bus Services, the largest and one of few organized transportation companies in Pakistan, describes an investment where the business case is very closely linked…

It has become somewhat of a tradition for Tundra to every year in December make a small financial contribution that benefits the disadvantaged and the vulnerable in society. The main…

In June 2016 MSCI will decide whether to upgrade Pakistan to Emerging Markets status or not. We believe the risks are tilted to the upside. We explain our reasoning in…

In December, Tundra together with the Karachi Stock Exchange arranged Tundra Sustainable Forum in Karachi, Pakistan, a conference on sustainable investments. With delegates from a majority of the top-100 listed…

Earlier this year part of Tundra’s portfolio management team visited Nigeria. Despite being the largest economy in Africa, few foreign asset managers have yet invested in the country. In our travel journal,…

During the spring, two of Tundra’s portfolio managers have been travelling around in several African countries in order to visit current and potential investments. It became an extensive trip with…

After 18 long days of intense discussions, Iran and the international community finally reached a landmark agreement, which is likely to lift the UN sanctions on Iran. Pakistan, as a…