Gunilla Carlsson, former Swedish minister for International Development Cooperation, and Cecilia Seddigh, who has more than 20 years’ experience in international mutual funds and the insurance industry, have been elected to the board of Swedish boutique Tundra Fonder.
The frontier market specialist manager announced the change after its annual general meeting on 16 May.
Carlsson served as minister in 2006-13, and previously was a member of the European Parliament from 1995 to 2002. She has also been deputy chairman of the Swedish Parliament Foreign Affairs Committee.
Seddigh’s experience in the industry has included stints at Skandia, when it expanded internationally via Skandia AFS and Skandia Global Funds. She has been a director of Swesif, The Swedish Forum for Sustainable Investment, and chairman of UpHigh, a sustainability consultancy. She founded Sparplatsen Sverige, a fintect company focused on robotic advisory services using artificial intelligence.
Following the elections, Tundra’s board currently comprises: Göran Lindholm (chairman), Per Axman, Anders Böös, Gunilla Carlsson, Johan Elmquist, Mattias Martinsson, Erik Saers and Cecilia Seddigh.
In recent months, Tundra has announced a three-year anniversary of an actively managed Vietnam fund, and the addition of a locally based portfolio manager at its Karachi office in Pakistan.
Commenting, CEO and partner Jon Scheiber said: “We are noticing rising interest for frontier markets including Pakistan. MSCI’s upgrade of Pakistan to emerging markets status is a quality rubber stamp making this market an eligible investment target for new investors. Not only in Sweden but also internationally. Distribution in the Middle East is something we are looking at now.”
“The size of clients expressing interest is also growing. Frontier markets is now considered by some of largest financial institutions globally. It’s understandable in the light of rising concerns of valuations in more developed markets and obvious difficulties in finding hidden secular growth stories in BRIC markets.”
“Our efforts in sustainable investments with an in-house dedicated ESG research team multi-site based in Sweden as well as locally in frontier Asia is catching attention among distributors.”