4
Apr
2014
Monthly updates, News
TUNDRA FONDER – MONTHLY LETTER MARCH 2014

• March was a strong month for emerging and frontier markets with returns of 4.1% and 2.6% respectively (in SEK). Several of the markets rose more than 10%. Worth noticing is that both emerging and frontier markets outperformed developed markets (+1.2%).

• Pakistan ended the month as one of the star performers with a return of 9.7% (SEK). The Pakistani bull market was driven by currency appreciation (+6%, the biggest monthly PKR appreciation in 30 years) and ceasefire between the Talibans and the Pakistan Army.

• In the past week, Tundra Frontier Opportunities celebrated its one year anniversary and Tundra Pakistanfond’s NAV crossed SEK 200 for the first time (corresponding to a return of 100% since the fund inception in October 2011).

Read the entire update here.

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