Fund Managed: Tundra Sustainable Frontier Fund A SEK
Three-year total return: 12.1%
Among the top three of those generating the highest returns from frontier markets is Tundra trio Mattias Martinsson, Shamoon Tariq and Mathias Althoff.
Focusing on the next generation of EMs, such as Vietnam, Bangladesh, Sri Lanka, Pakistan, Egypt and Nigeria, the fund is based on an environmental, social and governance (ESG) approach and complies with the UN Global Compact with regards to human rights, labour rights, corporate governance and environmental impacts.
The fund was launched in 2013 and currently holds its largest weighting in Egypt (16%), followed by Nigeria and Pakistan. In terms of sector allocation, the portfolio’s biggest exposure is to financials (44%).
The best-performing stocks in November, according to the latest fact sheet, were Grupo Financiero Galicia, which returned 19.4% and Cairo Invest & Real Estate at 16.2%. While the worst performers for the month were Hoa Sen Group, which lost 28.3%, and Hoa Phat Group, which was down 17.5%.