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Alternative Market Briefing

South African manager to launch emerging and frontier markets long/short value-biased fund

Monday, February 24, 2014

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André Steyn
Benedicte Gravrand, Opalesque Geneva for New Managers:

Emerging markets have been suffering from slower economic growth, weak currencies, high interest rates and capital outflows of late. But frontier markets seem to have fared better.

The MSCI Frontier Markets Index rose 21% in 2013, reported Bloomberg, outpacing the MSCI Emerging Markets Index by 26 percentage points, the widest annual gap since 2005. Corporate earnings in the 26 countries that make up the frontier index have risen to the highest level in five years.

So far this year, the MSCI Emerging Markets index is down 3.5% while the MSCI Frontier Markets index is up 3%.

This is a trend that developing nations specialists have taken note of. Mark Mobius, who oversees more than $50 billion in developing nations as an executive chairman at Templeton, recently found opportunities to buy in frontier markets, says Bloomberg. He’s been adding to companies in Africa, including Kenya and Nigeria, on expectations their growth will be less impacted by turbulence in larger economies.

Africa is where we find another hedge fund manager who sees value in both emerging and fr......................

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