The Tundra Sustainable Frontier fund, already in possession of a Nordic Swan label, has received its fifth star from Morningstar.
The fund, which invests in frontier market equities, launched in 2013, and currently claims some SEK1.8bn (€173m) in AUM on behalf of Swedish and international investors.
Mattias Martinsson, CIO, said: “Our target is to become the world’s leading manager of the next generation of emerging markets, and the rating is a mark that our management results now belong to the global elite. It is particularly exciting that the fund, with its strong sustainability angle, can show that there is no conflict between high risk-adjusted return and highly developed sustainability work.”
Tundra said that among some 40 frontier markets funds globally, its fund is now among the top decile in its category in respect of risk-adjusted return after fees. The Swedish boutique operates out of its headquarters in Stockholm as well as two offices in Vietnam and Pakistan. Its other three products are the Tundra Vietnam, Tundra Pakistan and Tundra Frontier Africa funds. Total assets are around SEK3.3bn (€318m).
The Nordic Swan labelling of the Sustainable Frontier fund was announced with the first batch of funds to receive the label in 2017.