Monthly Updates, News

The appreciating Swedish krona resulted in frontier markets ending June at -1.5% in SEK terms. In USD terms, the asset class (MSCI Frontier Markets xGCC Net) however rose by 1.5%. June became the seventh consecutive month of positive returns in USD and 1H 2017 was the best half year period since 2007 (+19%) while the best since 2014 in SEK (+11%).

  • The market return has also been reflected in net inflows into frontier markets globally. With the exception of a brief period in late March, the entire first half was dominated by net inflows. This is in stark contrast to 2016, when redemptions prevailed.
  • The spread between outperformers and underperformers was substantial in June among Tundra’s focus markets. Nigeria rose 7% while Pakistan had a challenging first month as emerging market, -9% (both in SEK).

Click for the full Pakistan or Frontier Opportunities update.

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