Advance Emerging Capital, the London based emerging and frontier markets investor, has confirmed an investment in the Tundra Pakistan fund, which is offered by Stockholm based Tundra Fonder.
Samir Shah, senior investment manager at Advance Emerging Capital, said: “Pakistan is a quintessential frontier market, that despite the frequent negative headlines, has the chance to capitalise on its huge potential over the coming decades.”
“The combination of strong demographics, a stabilising political outlook, strong earnings growth and an enhanced public investment programme make Pakistan a compelling investment destination. After a lengthy due-diligence process that included an on-site trip in Pakistan, we are confident that Tundra’s investment expertise and its local presence should allow it to continue unearthing some of the best investments in Pakistan today.”
As previously reported by InvestmentEurope, Tundra opened an office in Karachi last year, where it has been building a locally based investment expertise.
Advance Emerging Capital manages some $633m, including via the London Stock Exchange listed Advance Developing Markets and Advance Frontier Markets funds.