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B. G., Opalesque Geneva:

2021 has been a good year for Asian frontier markets with many of them being among the top 10 performing markets globally this year, according to Thomas Hugger and Ruchir Desai, co-fund managers at Hong Kong-based Asia Frontier Capital (AFC) in a report to investors seen by Opalesque. Those markets have also outperformed global and regional peers by a large margin.

They believe many Asian frontier countries are fundamentally well placed to adapt as the global economy and monetary policies transition to a more normal phase. "Any uneasiness in global markets with respect to policy normalization or new COVID-19 variants presents a good time to invest in Asian frontier markets as many countries in our universe are on a long-term structural growth path," they say.

In addition to tailwinds such as a very strong post-pandemic economic recovery backed by a robust rebound in earnings, higher commodity prices have helped many Asian frontier markets deliver impressive stock market returns. A case in point is Mongolia, which has been the best performing stock market globally in 2021 on the back of higher commodity prices and very attractive valuations.

On top of the economic momentum, key structural trends like the manufacturing and supply chain shift into Asian frontier countries continues to play out ver......................

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