Sweden’s Tundra targets UK, Swiss investors
Swedish boutique manager Tundra Fonder has recently announced the anglicisation of its Pakistanfond to Pakistan Fund as part of a push to meet growing demand from international investors.
Jon Scheiber, CEO and partner, said that “we are actively expanding distribution outside Sweden.”
“Interest in our products has been very high in recent months and we have passed SEK2bn (€212.5m) in AUM. We also note that the interest in frontier markets from institutions and funds of funds has increased. The long term case for growth combined with portfolio characteristics – markets and economies that are not totally coupled and correlated with others – is attracting many investors. Our goal is to be an internationally dominant player in frontier markets and with the growth and rate of expansion we have had so far this year that is [a] reasonable [expectation].”
The markets that Tundra is initially targeting include Switzerland and the UK, but as a manager it is open to initiatives in other markets too, Scheiber said.