Tundra will consolidate its three daily traded UCITS-funds (Pakistan, Vietnam, and Frontier Africa) in the Tundra Sustainable Frontier Fund through absorption on September 4th. The Tundra Sustainable Frontier Fund will thereafter be Tundra’s only daily traded UCITS fund. We will continue to offer single country exposure, but going forward only through institutional mandates.
Pakistan, Vietnam, and Africa each make up 20-25% of Tundra Sustainable Frontier Fund’s assets today, which means that all unitholders will retain significant exposure to these markets. However, diversification in several markets means that the level of risk will be reduced.
Tundra Sustainable Frontier Fund was awarded 5 stars by Morningstar in June, which means that it belongs to the top 10% globally in its category. By focusing our resources on one fund, instead of four, we can free up significant time that can be spent on the remaining fund and further development of the business. Tundra holds licenses for discretionary management and AIF management and recently also received an advisory license.
Tundra recently published a new report in Swedish and English that describes how the Tundra Sustainable Frontier Fund invests and why investors should consider our markets in the long term as part of their long-term savings. The report can be found here or at the bottom of this text.
What do you need to do as a unitholder in any of the three funds? Already existing unitholders in the Tundra Sustainable Frontier fund are not impacted. The fund will become slightly larger but the fund has significant spare capacity today and there will be no significant change in the allocation of assets in the fund. The higher asset base means there will be a marginal reduction of costs per unit as recurring costs are divided upon a higher asset base. If you want to remain a unitholder in a Tundra-fund you don’t have to do anything. If you hold units in either of the three funds worth USD 1 000 on the merger date you will instead receive units in Tundra Sustainable Frontier Fund worth USD 1 000. There will be no subscription or redemptions fees. All funds will be traded as usual until the merger date and you can buy as well as sell units as usual.
Detailed information about the upcoming mergers you will find below. If you have any questions, don’t hesitate to contact us. You can reach us by phone: + 468 551 145 70 or email: email@example.com.
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* Ontario and Quebec