The FMG Rising 6 Fund, a globally broad-based EM Fund, had a very good final quarter in 2016, up 3.9% compared to an MSCI EM index loss of 4.6%. EM had the best year since 2012 as finally investors started looking once again as the attractiveness of valuations versus...
The FMG Rising 3 Fund had yet another outstanding year relatively speaking, closing the year up 13.6% versus the MSCI BRIC’s performance of 9.5%.We are proud to remind investors that this is the 5th calendar year in a row that the Fund ended in positive territory....
New Frontiers had a disappointing year in 2016. In the 4th quarter MSCI Frontier Markets fared better than global emerging market that took a nosedive after Donald Trump won the US presidential election. Our models remained bullish throughout the quarter for most...
In local terms the MSE Top 20 ended the quarter with a 9% gain but the depreciation of the Tugrik wiped out those gains. The best performing stocks in the portfolio was the mining giant Turquoise (+9%) and coal miner Tavan Tolgoi (+30%) while the laggard brokerage...
In the 4th quarter it was all about Saudi and Egypt. In the years with lower oil prices Saudi has been forced to adapt to the lower oil price regime which has severely hurt economic performance. In the years following the collapse of oil prices in 2014, the Saudi...