The Asia Frontier Fund USD A-shares declined −2.2% in July 2018. The fund underperformed the MSCI Frontier Markets Asia Net Total Return USD Index (−2.0%), the MSCI Frontier Markets Net Total Return USD Index (+3.7%), the AFC Frontier Asia Adjusted Index (−0.1%) and...
At the beginning of the second quarter of the year, the Russian’s stock and money markets demonstrated an extremely negative reaction to the new sanctions imposed by the US Ministry of Finance against natural persons and companies. It took only a few days in order to...
Emerging markets were negatively affected by talk of trade war and sanctions. In Russia, President Putin was inaugurated into his new six-year term during the quarter. Announced reforms of increase in the pension age, long-term increase in spending on infrastructure,...
Overall emerging markets weakness, coming from the trade war, sanctions from the US negatively impacted the emerging markets and the Fund during the quarter. In Russia, President Putin was inaugurated into his new six-year term during the quarter. Retail trade numbers...
The Mongolian Stock Exchange (MSE) traded mostly sideways during the quarter while the offshore listed Mongolian companies were sharply lower. The Tugrik weakened substantially after several quarters of strength. The economy remains vibrant with GDP growth north of...
