Manager Comment November 2017

Asia Frontier Fund USD A-shares gained +2.8% in November 2017. The fund underperformed the MSCI Frontier Markets Asia Net Total Return USD Index (+13.9%) but outperformed the MSCI Frontier Markets Net Total Return USD Index (+1.2%), and the MSCI World Net Total Return...

Manager Comment October 2017

Asian Markets rose in October, with the Hang Seng Index +2.5%, MSCI Asia ex Japan Index +4.7%, MSCI AC ASEAN +2.0%, Thai SET Index +3.1%. The Mekong Fund +2.6%. Global money flows quietened down in October as technology shares found new momentum on the back of good...

Manager Comment October 2017

The AFC Vietnam Fund returned −0.7% in October with a NAV of USD 1,827.00, bringing the net return since inception to +82.7%. This represents an annualised return of +16.9% p.a. The September performance of the Ho Chi Minh City VN Index in USD was +4.1% while the...

Manager Comment October 2017

The AFC Asia Frontier Fund (Non-US) (AAFF) USD A-shares lost −1.6% in October 2017. The fund underperformed the MSCI Frontier Markets Asia Net Total Return USD Index (+5.2%) the MSCI Frontier Markets Net Total Return USD Index (+1.2%), and the MSCI World Net Total...

Quarterly Manager Commentary Q3 2017

Dear Friends, Emerging Markets continued to outperform global equity markets and we now have eight months in a row with this trend. In simple terms, investors continue to reduce their exposure to the western stock markets in favour of Asia, Russia, MENA and Latin...