Swedish emerging and frontier markets specialist Tundra Fonder has followed up its May 2014 launch of an actively managed Vietnam fund by opening an office in the country in Ho Chi Minh City.
The company has also hired Duc Nguyen as country officer as it looks to take advantage of one of the fastest growing regional economies.
Jon Scheiber, Tundra CEO said: “Vietnam offers one of the most exciting investment opportunities globally. The economy grew close to 7% last year and global giants such as Samsung Electronics and LG Electronics have relocated a substantial portion of their production to Vietnam. Despite this, a majority of foreign financial investors have still not discovered this market.”
“We are convinced that local presence does matter in frontier markets. This is why we are now launching our second office in one of our core markets,” he added.
The Vietnam office represents Tundra’s second major localisation project since it opened an office in Karachi to support its investments in Pakistan.
The manager also runs strategies investing in sustainable frontier market opportunities, Nigeria and sub-Saharan Africa, Russia and what it calls Frontier Opportunities, which includes frontier markets more broadly but excludes the Gulf Cooperation Council members in the Middle East.