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...
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 second quarter we reported on improving conditions in Mongolia. In the third quarter we reversed all those gains and more in the worst quarter reported in many years. Apart from the strength recorded in coal prices, all indicators pointed south. Offshore stocks...
It was a solid quarter for Mongolian assets with the key numbers pointing the right direction. Commodities continued to strengthen, especially the price of coal and gold, which are two of Mongolia´s main income earners. The Tugrik oscillated strongly but managed to...
The World Bank has published its economic update on Mongolia and it expects Mongolia to grow at 0.7% in 2016, 2.7% in 2017, 6.8% in 2018. The World Bank also expects growth to remain sluggish in 2016 due to weaker mining production, likely increasing poverty...
The MSE Top 20 index lost 14% in the quarter in local currency, and on top of this the Mongolian Tugrik depreciated by 3%. Local stocks traded lower throughout the quarter, despite the fact that assets globally were sharply rebounding from the January lows, especially...
