Saturday, 27 December 2014
Last updated 3 days ago
Aug 6 2010 | 3:14am ET
Emerging markets hedge fund Everest Capital is opening its frontier markets strategy to outside investors with a new fund.
Everest told investors that the capacity of the newly-launched frontier markets fund is US$400 million, MarketWatch reports. The firm has been investing in frontier markets for two years, with about US$90 million of its US$2 billion in assets allocated to the strategy.
While emerging markets have suffered big losses over that period, Everest said its strategy has produced a 10% return.
“Our opportunistic investment approach has allowed the frontier-markets strategy to exploit regional turmoil, including the unravelling of the Nigerian banking system and the Pakistani downgrade from emerging market status," the firm wrote. "We were also able to foresee the effects of the Dubai debt restructuring on the Middle East frontier markets region, and more recently the spill-over effects of the European sovereign-debt crisis on European frontier markets.”
Everest added that 17 of the 20 fastest-growing economies in the world are frontier markets.
“We expect that the emergence of young consumers into middle-class economies across frontier markets will result in growth engines for years to come,” it said.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.