Tundra Fonder, the Swedish boutique specialising in frontier markets, has appointed Asif Arslan Haider Soomro to its Karachi office as portfolio manager, in support of the manager’s ongoing expansion.
Previously head of Equity Funds at JS Investments in Pakistan, Soomro was recently given a Lipper Award for best Pakistan equity fund over the past five years. He will join the investment team headed by CIO Mattias Martinsson.
Tundra’s Pakistan fund has returned some 300% over the past five years, to make it the best performing fund over the period in the Swedish PPM system – in which long term savers can self-select funds for a portion of their annual savings towards retirement. The Swedish manager has had a research office in Pakistan since 2014 (see http://www.investmenteurope.net/regions/swedendenmarkfinlandnorway/swedens-tundra-opens-karachi-office/). Another office was opened in Vietnam in 2016 (http://www.investmenteurope.net/regions/swedendenmarkfinlandnorway/tundra-fonder-launches-vietnam-office/) – the manager also offers the Tundra Vietnam fund focused on local equities. Having a local presences in such frontier markets is a unique part of the Tundra approach to investments, added Jon Sheiber, CEO.
Having been upgraded to emerging market status by MSCI, Pakistan has continued to draw investors over the past year. Tundra has outlined a number of opportunities in the market over the year, and its latest appointment builds on the research capabilities it has said is required to identify mis-priced assets (http://www.investmenteurope.net/regions/swedendenmarkfinlandnorway/msci-em-changes-good-pakistan-tundra/ )
Tundra was recently recognised in local awards for the Swedish fund industry for its sustainability strategy Tundra Sustainable Frontier, which applies an ESG overlay (http://www.investmenteurope.net/regions/swedendenmarkfinlandnorway/priornilsson-takes-swedish-prize-for-fund-company-of-the-year/)