Tundra Pakistan fund goes on sale in Norway
Tundra Fonder, the Swedish boutique specialising in emerging markets, is to sell its Pakistan fund in Norway, attracted by the large number of Pakistanis living in the country.
It estimates that 50,000 Pakistanis live in Norway, which puts it far ahead of Denmark and Sweden – with about 30,000 and 7,000 respectively.
According to Morningstar data for the Swedish market the Pakistan fund has been the best performing Asia fund among peers. Return from the start of the year to 12 July was 26.8%. It has attracted some 10,000 shareholders so far, Tundra said.
Mattias Martinsson, chief executive and partner, said:”We are taking the step into Norway because we know there are many Pakistanis living there who are interested in investing in their home country.”
“Norway is the second country we are exporting our funds to. We previously started sales in Finland, and plans exist for additional countries.”
Norwegian investors can initially buy the Tundra Pakistan fund through the local version of the Nordnet platform (www.nordnet.no)