New shares for frontier markets fund

The fund has produced a net asset value return of 8.1% since launch by investing across some of the least developed emerging markets. The stockmarket capitalisation of this niche sector, which covers over 100 countries, is approximately $350bn, equivalent to approximately 2% of the mainstream emerging markets’ value. Frontier markets include countries such as Bangladesh, Botswana, Croatia, Kuwait, Mauritius and Vietnam. Commenting on the new tranche of shares, Dr Slim Feriani, managing director and chief investment officer at Progressive Developing Markets, said: “The fund has attracted co...