Advance Frontier Markets underperforms MSCI Index

AFMF : Advance Frontier Markets underperforms MSCI Index

Advance Frontier Markets saw its net asset value rise by 22.4% and its share price by 27.9% over the year to the end of June 2014. The MSCI Frontier Markets Index posted a gain of 36.2% over the same period. The manager’s report says that good performance by The United Arab Emirates and Qatar exchanges was captured in the index for the first 11 months of the financial year but the subsequent underperformance in June was not as the two markets were upgraded to emerging markets status at the end of May.

Strong performances were recorded by Advance Copernico Argentina Equity Fund (NAV total return 84.1%), Romanian holding Fondul Proprietatea (share price total return 57.2%), EFG-Hermes Saudi Arabia Fund (NAV total return 42.8%) and Ashmore Middle East Equity Fund (NAV total return 45.4%).

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