The Russian Federation First Mercantile Fund lost 4.7% in the 1st Quarter of 2017 The Russian Federation first Mercantile Fund (“RFFMF”) gave up some of the strong 2016 profits (+69%) in the first quarter. The price of oil dropped 7% while the ruble continues to...
FMG Rising 6 Fund gained +5.1% in the 1st Quarter of 2017 The FMG Rising 6 Fund had another very strong quarter in Q1 2017, on the back of another strong rally in Emerging Markets. We feel that our view on the cheapness of Emerging Markets as compared to the US and...
FMG (EU) Rising 3 Fund gained +5.7% in the 1st Quarter of 2017 The FMG Rising 3 Fund had another very strong quarter in Q1 2017, on the back of a strong rally in Emerging Markets. We feel that our view of the cheapness of Emerging Markets as compared to the US and...
FMG Mongolia Fund lost 3.8% in the 1st Quarter of 2017 Local stocks were on a roller coaster in the first quarter but ended 3% higher mainly due to FX strength. This improvement came on the back of a negotiated IMF stabilization package in February. The bailout was...
FMG Iraq Fund gained +4.5% in the 1st Quarter of 2017 The Iraqi stock market rally that began in the summer of 2016 continued during Q1. For most of the quarter the ISX was the best-performing market in the world, but in March much of the gains were wiped out as oil...
