Commentary 30 September 2020
In the third quarter of 2020, the fund returned 6.91% compared to 8.65% for the benchmark (FTSE Frontier Index).
Frontier Markets companies have maintained approximately the same growth as before the pandemic broke out, and in turn, they are now cheaper than in many years. From an investor’s point of view, it means an excellent opportunity to buy long-term stable returns at a very attractive price.
From a socio-political point of view, it is important to remember that Frontier Countries are amongst the ones to have better addressed the pandemic, while many developed markets are either still struggling or about to face new forms of lockdowns.
Given these premises, we are confident that Frontier Markets will keep providing excellent investment opportunities over the next months.
