12
Apr
2016
Monthly updates, News
TUNDRA FONDERS MONTHLY UPDATE MARCH 2016

Hopes of commodities having troughed and dovish statements from the Fed boosted major emerging markets. Despite this, frontier markets did not join the bull run.

  • MSCI Frontier Markets xGCC Net (SEK) fell 3% during March, compared to MSCI Emerging Markets Net (SEK) rising 7%. Keep in mind that the roles were reversed in February – frontier markets rose while emerging markets fell.
  • Please notice that the Swedish Krona appreciated 5% during the past month and most frontier markets rose in local currency terms.
  • A majority of the frontier market economies are relatively insulated and are driven by other factors than those impacting major emerging market economies. The fact that local investors dominate the trading means that the global trends normally only has limited impact on frontier markets.
  • Best return among Tundra’s funds during March was generated by Tundra Rysslandsfond, +7%.

Read the entire update here.


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