Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
Asian frontier markets showed robust resilience and convincing performance in June 2025, driven by a powerful structural 'economic liberation' in Vietnam, cheap valuations in South Asia, and upcoming privatizations in Uzbekistan.
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Asian frontier markets showed robust resilience and convincing performance in June 2025, driven by a powerful structural 'economic liberation' in Vietnam, cheap valuations in South Asia, and upcoming privatizations in Uzbekistan.
AFC Asia Frontier Fund delivered 23.1% returns in 2024, the second consecutive year of strong outperformance. Pakistan and Sri Lanka led gains globally, driven by monetary easing and economic recovery. Vietnam achieved 7.0% GDP growth despite stock market underperformance. Fund maintains positive 2025 outlook across key markets with continued structural improvements and policy support.
Full Quick Take
AFC Asia Frontier Fund delivered 23.1% returns in 2024, the second consecutive year of strong outperformance. Pakistan and Sri Lanka led gains globally, driven by monetary easing and economic recovery. Vietnam achieved 7.0% GDP growth despite stock market underperformance. Fund maintains positive 2025 outlook across key markets with continued structural improvements and policy support.
AFC Asia Frontier Fund posted +3.6% in December, capping a strong +27.1% year driven by Mongolia and Iraq outperformance. The diversified portfolio across 68 frontier Asian companies trades at attractive 6.83x P/E with significant exposure to consumer goods and materials. Manager actively deployed capital into Sri Lankan banking while adding to existing Mongolia positions.
Full Quick Take
AFC Asia Frontier Fund posted +3.6% in December, capping a strong +27.1% year driven by Mongolia and Iraq outperformance. The diversified portfolio across 68 frontier Asian companies trades at attractive 6.83x P/E with significant exposure to consumer goods and materials. Manager actively deployed capital into Sri Lankan banking while adding to existing Mongolia positions.
