DOCSLIB.ORG

Tin Nghia Boosts Agricultural Investments in Laos

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Tin Nghia Boosts Agricultural Investments in Laos EMERGING FRONTIERS BLOG Investment news and analysis from frontier markets HOME LEOPARD HAIT I FUND LEOPARD CAMBODIA FUND LEOPARD ASIA FRONT IER FUND ABOUT US CO UNT RY NEWS JU LY 27, 2012 Haiti Tin Nghia boosts agricultural investments Cambodia in Laos Reply Myanmar by choileopard • Laos News • Tags: animal feed production, Champasak Province, Oriental Champa Resort, Tin Nghia Corporation Bangladesh Bhutan Reposted from The Saigon Times By Hong Mongolia Ngoc EXCLUSIVE INT ERVIEW Vietnam Chris Tell and Mark Wallace from Tin Nghia Corporation based in Dong Nai CapitalistExploits Laos Province has planned to boost investments in Laos, especially in the agricultural sector, Sri Lanka The Oriental to serve projects it has invested in the Champa Resort is LEO PARD CAPIT AL IN T HE NEWS Jamaica neighboring country over the past time. invested by Tin Most recent articles, interviews and stories Nepal Nghia Corporation in Quach Van Duc, general director of Tin Nghia, about Leopard Capital Laos. Papua New Guinea said that the potential project the firm might invest in Laos was to produce micro-organic Pakistan fertilizers from peat in Sekong Province. This project will meet the FO LLO W BLO G VIA EMAIL Cuba fertilizer demand of the firm’s agricultural projects and of local people. Enter your email address to follow this blog and receive notifications of new posts by email. Iraq Besides, Tin Nghia will develop a 500-hectare material area for animal Africa feed production, a coffee purchasing station and a fresh coffee Join 735 other followers processing plant in Champasak Province. Fiji Tin Nghia has penetrated the Lao market since 2007 with agricultural Afghanistan projects, industrial park and tourism projects. On Laos’ Bolaven Plateau, Follow Other Countries the firm has developed two Catimor and Arabica coffee farms, one covering 400 hectares and one covering some 170 hectares. CO UNT RY REPO RT S, NEWSLET T ERS AND HIGHLIGHT S The firm has also invested in the Oriental Champa Resort scheduled for operation next year and a 463-hectare industrial park, the first industrial FEAT URED ART ICLES Bangladesh Haiti park in Champasak Province. EAP economic update -- 14 April 2013 Cambodia Cambodia Myanmar Economic Update -- 23 April 2013 2013.02.25 - Mongolia Photo Credit: Google Images Private Equity SE Asia - Why PE Firms are betting on Red Hot SEA Governing Haiti: Time for WHAT WE’RE National Consensus Pearl of Wisdom, Douglas PO ST ING Share this: Clayton The Caribbean Property Investor Issue 3, Africa ADB Africa New Horizons Myanmar: Embracing Change on News Agriculture the Path to Democracy", The Daily Telegraph(17 ASEAN Asian Like this: Loading... Dec 2012) Laos; Part 3 of 3 -- Lao Stock Development Bank Exchange Renaissance Capital -- Mongolia: Blue- Aung San Suu Kyi Skies Opportunity CBRE Cambodia MarketView Bangladesh September 2012 Leopard Capital Country Bhutan Burma Snapshot Series: Laos Part II -- Lao Securities Cambodia China Exchange "Really not a good time to be buying coal Copper Cuba anything", Arabian Money August 2012 ICG - City plans to equitise 68 Serviced apartments development Douglas Myanmar Politics of Reform - July 27 2012 State-owned companies appealing to tenants Clayton economic "Mongolia's Treasure Trove", Investing, Carl T. development Delfeld. July 2012 Myanmar: From Army Rule to economic growth Constitutional Rule?, Robert Taylor, Asian Affairs, economy emerging vol. XLIII, no. II, July 2012 final published Thura markets Energy EU Swiss - Thura NewsViews Issue 21 IIFL European Union Institutional Equities - Sri Lanka Tourism IIFL exports FDI foreign Leave a Reply Institutional Equities The Front Page Sri Lanka direct investment ANZ Greater Mekong Economic Update 3 July foreign investment Enter your comment here... 2012 An Introduction to Doing Business in foreign investment Myanmar - Dezan Shira & Associates Country law frontier market Highlight Series: Laos (Part 1) frontier markets GDP Gold Haiti Hydropower IFC IMF EMERGING FRO NT IERS O N T WIT T ER India Infrastructure investment Investments Jamaica Japan Joint Ventures Laos Leopard Capital FO LLO W LEO PARD CAPIT AL manufacturing Mining Mongolia Myanmar natural resources Nepal oil oil and gas Oyu Tolgoi Pakistan Phnom Penh Port-au-Prince President Thein Sein Private Equity reforms renewable energy Rio Tinto LEO PARD CAPIT AL NEWSLET T ERS sanctions Southeast Asia Sri Asia Frontier Capital (AFC) - June 2013 Newsletter Lanka Asia Frontier Capital (AFC) - May 2013 Newsletter telecommunications Leopard Capital Group Newsletter - April 2013 Thailand Thein Sein Leopard Asia Frontier Fund Newsletter - March tourism trade United 2013 Leopard Asia Frontier Fund Newsletter - February 2013 Leopard Asia Frontier Fund States Vietnam World Bank Yangon Newsletter - January 2013 Leopard Asia Frontier Fund Newsletter - December 2012 Leopard Asia T O P CLICKS Frontier Fund Newsletter - November 2012 Leopard Asia Frontier Fund Newsletter - October ibtimes.com/myanmars- 2012 Leopard Asia Frontier Fund Newsletter - weak… September 2012 Leopard Capital Newsletter Issue 28 - September 2012 Leopard Asia Frontier emergingfrontiersblog.fil Fund Newsletter - August 2012 Leopard Asia … Frontier Fund Newsletter - July 2012 Leopard Asia leopardcapital.com/leopar Frontier Fund Newsletter - June 2012 Leopard … Capital Newsletter Issue 27 - June 2012 Leopard Asia Frontier Fund Newsletter - May 2012 bernama.com/bernama/v7/wn Newsletter Archive Register to Receive … Newsletters bangkokpost.com/business/ … T WIT T ER ibtimes.com/myanmar- Mongolia’s multi-billion legislative debate forei… wp.me/p26A5b-41Y 19 hours ago emergingfrontiersblog.fil Vietnam state-owned cinema project could … waste a lot of money, experts fear wp.me/p26A5b-41H 2 days ago capitalistexploits.at/the … Laos posts trade surplus with Vietnam wp.me/p26A5b-41D 2 days ago emergingfrontiersblog.fil … Cuba's Economy: Money Starts to Talk wp.me/p26A5b-41A 3 days ago bloomberg.com/news/2013- 0… Diverse industries boost GDP wp.me/p26A5b-41r 3 days ago Fo llo w SUGGEST ED LINKS: Asia Briefing Jon Springer's Instablog Seeking Alpha brianlangisblog Frontier Markets Compendium Diverging Markets Investment Adventures in Emerging Markets Contrarian Investor Network Myanmar GloomBoomDoom Report International Herald Tribune Financial Times The Wall Street Journal Southeast Asia News BBC News Asia CNN Al Jazeera beyond brics The Economist The Times (London) Los Angeles Times Washington Post Frontier Markets FACEBO O K Leopard Capit al Gefällt mir 596 Leopard Capital LP c/o Ogier Fiduciary Services Leopard Capital Cambodia Office 1748, National Leopard Capital Haiti Office 52, Angle rue Vilaire (Cayman) Ltd. 89 Nexus Way, Camana Bay Road 5 / P.O. Box 1141 Phnom Penh, Cambodia et rue E.Pouget Morne Calvaire , Port-au-Prince Cayman Islands Email: [email protected] Tel: +855 23 723 050 Fax: +855 23 723 051 Email: BP: 16011, Haiti Email: [email protected] [email protected] Tel: +509 2811 0255 Blog at WordPress.com. | Customized Newsy Theme..
Load more

Recommended publications
  • Even North Korea
    FRONTIER MARKETS EVEN NORTH KOREA Frontier market investors have arrived in countries under sanctions and embarlroes' such as Iran and Guba, even those without stock markets, such as North Korea and Myanmar. Stefanie Eschenbacher investigates the investment opportunities. NORTH KOREA IS investable, Meanwhile, Myanmar revealed crippled the country. Ramin and this time it is not just a hoax plans to open a stock exchange Rabii, the managing director at Turquoise Partners, which is by a US website - The Onion following nearly half a century once declared the North Korean of military rule. Stocks that give based in Teluan, manages almost all foreign investments in the supreme leader Kim Jong Un "the exposure to Myarunar but are sexiest man alive" (and China's Iisted in third-countries, such Teluan Stock Exchange. "lran is People's Daily fell for it). as Singapore and Thailand, are the most misperceived country on high valuations. COMMUNIST in the world," Rabii says. "The Mongolian oil companY HBOiI already trading CA.PIT.U,: recently established ties with Iran, however, appears to toP There de ethical potential, once salctions are lifted, and reputational the most isolated and secretive the list of desired investments, concerns when it is enormous." comes to coutries its uncertain future and The Teluan Stock Exchange is country of aII, and is now trying despite Iile North Kolea, to entice foreign investors. decades of sanctions that have Iarge and liquid, with a market 26 Autumn 2014 capitalisation of $I45 billion, iron ore, and Khuzestan Steel and Commercial Bank and Baghdad including the junior market. Rabii MCIC, which produce steel and Soft Drinks.
    [Show full text]
  • Opalesque Roundtable Series HONG KONG Opalesque Roundtable Series Sponsor
    Opalesque Roundtable Series HONG KONG Opalesque Roundtable Series Sponsor: opalesque.com Editor ’s Note Over the past few years, many hedge funds were struggling in Asia across many different strategies but 2017 has been a phenomenal year for Asian managers. Return dispersion has also been much wider. For example, in Chinese long/short equity the returns could be as low as 5% to 6% and as high as 100%, whereas in previous years dispersion was less and many managers reported negative numbers. On the company level, there are more earnings upgrades than downgrades in Asia. Total hedge fund allocation across all Asian strategies is about 7% of an asset base of 2.5 trillion USD (Eurekahedge), while at the same time Asia likely contributes 60% of incremental Global GDP and attracts 45% of Global FDI. The weightage of Asia in the portfolio for global managers will have to increase by a significant number to reflect those developments. The rebirth of emerging markets Many emerging markets are beginning to have a life of their own. In the past, they have done well in good times, and then when there is a shake out, they experience a wobble. But this is changing now. For the first time, there is a fair amount of divergences or de-correlation within the different emerging markets which reflects the improved fundamentals of these markets . In the past, overnight events in CEEMEA or LatAm would have a large impact on Asia, whereas now that correlation is not there. Even within Asia, for example, Korean market developments are not able to drive China markets or for that matter China is not able to drive the rest of the markets as much as before as each of them have developed a life of their own.
    [Show full text]
  • Afc Vietnam Fund Update
    15th July 2019 AFC VIETNAM FUND UPDATE Fund Category Vietnam Public Equities Both indices recovered June’s losses with banks leading the rally on both exchanges. Country Focus Vietnam Market turnover continued to be unexciting with market participants waiting for the Monthly at NAV (five business release of half year results. The indices gained +2.4% in HCMC and +2.0% in Hanoi, while Subscriptions days before month end) our portfolio was little changed with our NAV at around USD 1,819, up 0.2%, according Monthly at NAV Redemptions to internal calculations. 30 days’ notice Benchmark VN Index Market Developments Fund Manager Vicente Nguyen Asia Frontier Capital (Vietnam) The mid-cap index is currently trading around 10% lower than 2 years ago. In Investment Manager Limited, Cayman Islands comparison, the mostly watched Ho Chi Minh City Index is around 25% higher than 2 Asia Frontier Investments Investment Advisor years ago. The mid-cap index has now been stabilizing for a prolonged period and Limited, Hong Kong therefore valuations are again attractive, especially when compared with blue chips. Fund Base Currency USD The risk/reward ratio is certainly in favor of mid-caps and small-caps. Minimum Investment USD 10,000 Subsequent Investments USD 1,000 Management Fee 1.8% p.a. of NAV 12.5% p.a. of NAV appreciation Performance Fee with high watermark Fund Domicile Cayman Islands Launch Date 23 December 2013 Viet Capital Securities, Ho Chi Custodian Bank Minh City Auditor Ernst & Young, Hong Kong Administrator Custom House, Singapore Legal Advisor Ogier, Hong Kong (Vietnam Mid-Cap Index from Dec 2015 to July 2019; Source: Vietcapital Securities) ISIN KYG0133A1673 Overall, we are still in a consolidation pattern with a hard to predict break-out timing.
    [Show full text]
  • Quarterly Review a Publication of the Emerging Markets Private Equity Association ● Volume V, Issue 2, Q2 2009 June 2009
    Emerging Markets Private Equity Quarterly Review A Publication of the Emerging Markets Private Equity Association ● Volume V, Issue 2, Q2 2009 June 2009 Viewpoint In This Issue The first half of 2009 has been a dismal time for private equity and venture capi- tal firms worldwide, and emerging markets PE fund managers are seeing their FEATURES share of challenges. The recent upswing in the emerging markets stock indices gives hope that the impact of the financial crisis has already hit bottom in these markets, ahead of developed countries. But even if this trend holds—and it is not Plugging the Financing Gap: yet clear it will—private equity and venture capital fund managers in developing Is There a Growing Role for countries are not out of the woods yet. Mezzanine and Debt Funds? 3 Fundraising for EM PE remains very difficult, with Q1 2009 totals down 71% year-on-year, with no clear rebound in sight. LPs retain a positive outlook for new 2009 LP Survey Results: EM PE investment opportunities and expect outperformance from legacy and LPs Still Find Emerging Markets new funds relative to developed market buyouts. However, near-term financing Private Equity Attractive Despite constraints among many Western LPs will limit their ability to commit substantial Global Economic Downturn 8 funds to the asset class this year. In the midst of this crisis, the financing gap for developing market companies is Fundraising and Investment raising its head, as equity and debt availability is constrained. Fund managers and Slows in Q1 2009 11 development finance institutions are looking at innovative ways to fill the gap us- ing debt and mezzanine fund structures and vehicles, but these nascent efforts are not yet off the ground.
    [Show full text]
  • AFC ASIA FRONTIER FUND May 2021
    AFC ASIA FRONTIER FUND August 2021 Asian Frontier Countries Fund Category Investment Objective Public Equities Bangladesh, Cambodia, Iraq, Achieve long-term capital appreciation by investing in listed equities of companies that have Kazakhstan, Kyrgyzstan, Laos, their principal business activities in high-growth Asian frontier markets. The fund focuses Maldives, Mongolia, Country Focus primarily on investments in consumer related stocks, financials, and infrastructure. Myanmar, Pakistan, Papua New Guinea, Sri Lanka, Uzbekistan, Vietnam Fund Manager Comment Monthly at NAV (five The AFC Asia Frontier Fund (AAFF) USD A-shares increased by 2.5% in August 2021 with a Subscriptions business days before month end) NAV of USD 1,546.35. The fund outperformed the AFC Frontier Asia Adjusted Index (−0.5%) Monthly at NAV and the MSCI Frontier Markets Asia Net Total Return USD Index (+1.6%) but performed in Redemptions 90 days notice for Class A line with the MSCI Frontier Markets Net Total Return USD Index (+2.5%) and the MSCI World 180 days notice for Class B Net Total Return USD Index (+2.5%). The performance of the AFC Asia Frontier Fund A- AFC Adjusted Frontier Asia Benchmark st Index shares since inception on 31 March 2012 now stands at +54.6% versus the AFC Frontier Asia Thomas Hugger Adjusted Index, which is up by 27.9% during the same period. The fund’s annualized Fund Managers Ruchir Desai performance since inception is +4.7%. The broad diversification of the fund’s portfolio has Investment Asia Frontier Investments resulted in lower risk with an annualised volatility of 10.5% and a correlation of the fund versus Manager Limited, Hong Kong Fund Base the MSCI World Net Total Return USD Index of 0.55, all based on monthly observations since USD, EUR, CHF Currencies inception.
    [Show full text]
  • Investment Objective Investor Profile Manager
    Fund Category Asian Frontier Countries Investment Objective Public Equities Achieve long-term capital appreciation by investing in listed equities of companies that have their Country Focus Bangladesh, Cambodia, Laos, principal business activities in high-growth Asian frontier markets. Maldives, Mongolia, Myanmar, Pakistan, Papua New Guinea, Sri Lanka, Vietnam Investor Profile Subscriptions Monthly at NAV (five days before month end) Seeking medium and long-term capital appreciation by investing primarily in equity securities of companies with principal activities in Asian frontier markets. Redemptions Monthly at NAV 90 days notice for Class A 180 days notice for Class B Manager Comment on November 2012 Benchmark No applicable benchmark Leopard Asia Frontier Fund (LAFF) USD A-shares gained 0.6% in November 2012, again outperforming the Fund Manager Thomas Hugger MSCI Frontier Markets Asia Index (-1.9%) and grew in line with the MSCI World Index USD (+0.2%). Investment Leopard Capital Management Ltd. In November, indexes performances within the LAFF universe varied greatly: Laos performed best, gaining Manager 12%, followed by Pakistan (+4.7%). The top performing portfolio stocks were a Pakistani food producer Investment Leopard Capital (Hong Kong) Ltd. Advisor (+25.1%), a Myanmar conglomerate (+24.5%), a Vietnamese confectionary producer (+23.8%) and a Fund Base USD, EUR, CHF Vietnamese brewery (+22.5%). Currencies In contrast, Bangladesh (-6.3%) was the worst performing index within the Fund for in November, Minimum USD 100,000 or followed by Mongolia (-5.8%), which experienced its fourth consecutive month of negative growth. MSE Investment EUR 80,000 or CHF 100,000 Top 20 Index is down 30.2% year to date, and according to Bloomberg is the third worst performing index Subsequent USD/EUR/CHF 10,000 globally.
    [Show full text]
  • Cambodian Fund Leopard Capital Makes Two New Investments NEW on Alltassets! LP-GP
    NEWS & VIEWS MAGAZINE NETWORK Glloball priivate equiity and NEWS & VIEWS venture capiitall news and research Advanced HOME PE NEWS » FEATURES LP PROFIILES » KNOWLEDGE BANK » EVENTS » ARCHIIVE search We use cookies to create the best possible browsing experience for AltAssets website visitors. ACCEPT COOKIES By closing this box you agree to the use of cookies according to our privacy & cookies policy. ACCEPT COOKIES Cambodian fund Leopard Capital makes two new investments NEW on AlltAssets! LP-GP 26 Jun 2009 Network Leopard Capital, a Cambodian private equity firm, has completed its second and third deals from $27m debut vehicle Leopard Cambodia Fund. The fund has committed $1m in equity financing to Greenside Holdings. Greenside We're opening doors is part of a consortium of investors that is refurbishing, designing, constructing and commissioning a rural power transmission and distribution system. Greenside will online to connect LPs & use the funds received from Leopard to help fund its share of the $4m project. GPs worldwide The transmission and distribution system is 120km in length and includes medium and low voltage networks. The system is expected to provide grid power to 7,700 residential customers and 375 commercial and industrial customers. The total Already a member? LOG IN HERE population of the distribution area is approximately 425,000. The electrification rate in Cambodia is currently one of the lowest in Asia and there is an urgent need for more power generation and transmission. Leopard has already received its first profit-share payment from Greenside and expects consistent annual returns of 20 per cent. The Leopard Cambodia Fund has also set aside $1.8m to establish Cambodia Plantations, a Singapore-based company which will serve as an offshore finance vehicle for agricultural investments in central Cambodia.
    [Show full text]
  • Asean's Frontier Economies the Next Stage of Growth for Cambodia, Laos, Myanmar and Vietnam 2 Special Edition Asean’S Frontier Dec
    December 8, 2016 | bloombergbriefs.com Asean's Frontier Economies The next stage of growth for Cambodia, Laos, Myanmar and Vietnam 2 Special Edition Asean’s Frontier Dec. 8, Economies2016 2 Introduction By Tamara Henderson, Bloomberg Intelligence Economist Asean's frontier economies Cambodia, Laos, Myanmar and Vietnam are among the Inside world's fastest growing. These are the region's low income economies, each at a Big Picture different stage of transformation but all following an export-led growth strategy. This Asean's frontier economies are being makes them vulnerable in the short-term to the particularly challenging external transformed through trade with environment. China: page 3 Low labor costs have attracted foreign direct investment, which spurred the increase in export shares for CLMV countries. This is in contrast with a decline in exports as a Factsheets share of GDP for China and most of Asean over the last decade. Exports amount to Cambodia: page 4 nearly 90 percent of Vietnam's economy compared with one-third in 1995 and about two- Laos: page 5 thirds a decade ago. Exports are almost 70 percent of Cambodia's GDP, more than twice the share in 1995, and 35 percent of Laos's economy compared with 22 percent Myanmar for China. Factsheet: page 6 Open economies are more sensitive to external shocks. Asean's frontier economies are even more vulnerable because CLMV exports and imports tend to be concentrated The country's central bank braces for in a small number of products and markets. The bulk of Cambodia's exports are a deeper slide in the currency: page 7 garments, with the former French colony relying on China, Thailand and Vietnam for more than 60 percent of the inputs for garment production, according to the IMF.
    [Show full text]
  • Region Snapshot*
    Southeast An Overview of Trends in Select Sectors and Markets DecemberAsia 2008/January 2009 Region Snapshot* Duringuring 2007 and 2008, the private equity industry in the SoutheaSoutheastst Asia region seemed to recover from the collapse of private equity there followingfollowing the late 1990s • 2008 Population: 583 million fi nancial crisis. Despite residual concerns about political instability and corruption, and • Population Growth (2009): 1.5% worries that fallout from the US recession will worsen a slide in exports, the investment • % of Population Under 15 Years-old: 31% thesis for the region remains strong. Young and growing populationspopulations are rapidly develop- • 2008 GDP Current Prices: US$1,487 bn ing consumer habits; resource-rich economies like Indonesia standstand to gain from com- modity price gains and rising energy needs; trade relationships within the region and with • GDP Growth (2009): 4.8% other Asian partners are strengthening; and governments in the region continue to make • Infl ation (2008, 2009): 10.2%, 6.4% progress, albeit sometimes slow, toward economic reforms. Source: IMF, Population Reference Bureau. * Statistics refer to 10 countries: Brunei, Cambodia, Indonesia, Laos, Capital dedicated to private equity investment in the region has doubled over the last Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. eight years, rising from US$520 million in 2001 to US$982 million in 2008, after reach- ing a zenith in the 1990s. Between 2005 and 2008, the total value of private equity This issue of EMPEA Insight focuses on the Southeast investment in Southeast Asia nearly quadrupled, increasing from US$1.3 billion to US$5 Asian countries of Singapore, Thailand, Vietnam, billion through December 2008.
    [Show full text]
  • The Wild Card: Can Frontier Markets Equities Bounce Back? | Frontier Markets, Equities | Financeasia
    5/6/2020 The wild card: Can frontier markets equities bounce back? | frontier markets, equities | FinanceAsia Frontier markets The wild card: Can frontier markets equities bounce back? Frontier markets have been among the worst hit amid the coronavirus equities sell-off, but one veteran fund manager believes they have rarely offered better value. By Jackie Horne April 28, 2020 The coronavirus spared many frontier markets from the same infection rates suffered by Western countries, but not their stock markets. In Vietnam, for example, the VN Index fell 26.1% in dollar terms during March, outpacing US benchmark indices such as the Dow Jones Industrial Average, which dropped by 13.74% over the same period. Frontier markets are getting used to it after taking a pounding in recent years. International investors remain firmly focused on their homes markets in the US and Europe, or rapidly opening ones like China. In the following interview, Thomas Hugger, founder and CEO of fund manager Asia Frontier Capital, argues that there has never been a better time to reconsider some of Asia's smallest stock markets. He also wishes the MSCI would re-evaulate its methodologies for upgrading or downgrading countries between its emerging markets and frontier markets index. Hugger's Hong Kong-based group currently operates four funds with $45 million under management: its benchmark AFC Asia Frontier Fund, AFC Iraq Fund, AFC Uzbekistan Fund and AFC Fund. Q. What impact is the coronavirus having on frontier markets? A number of stock exchanges like Sri Lanka and Jordan closed completely. A. There’s a major difference between the stock exchange closures in the two countries.
    [Show full text]
  • Market Review: “Foreigners Tip-Toeing Into the Market” Ahmed Tabaqchali, November 9Th, 2020
    Market Review: “Foreigners tip-toeing into the Market” Ahmed Tabaqchali, November 9th, 2020 The market, as measured by the Rabee Securities RSISX USD Index (RSISUSD), declined 1.6% in October, signalling a pause in the five-month recovery from the multi-year lows reached in April. However, in local currency terms the market was flat for the month, suggesting the current pause is likely to develop into a consolidation of recent gains. The 32.2% five-month recovery from the April lows merely takes the market to just short of where it started the year – at the tail end of a brutal five- year bear market. While the equity market’s overly subdued tone in October was similar to that of the prior two months, adjusting for the disruptions to economic activity in the wake of the 40-day Arbaeen pilgrimage, the overall picture suggests a resumption of the multi-month gradual recovery in daily turnover from the lows seen during the big lockdown. Encouragingly, the overall level of turnover was higher than seen during most of 2019 (chart below). 30 ISX Daily Turnover Index 25 Turnover Index 20 10 day MA 15 10 5 0 9 9 9 9 9 9 0 0 0 0 0 -1 1 -1 -1 -1 -1 -2 2 -2 -2 -2 b r- n g t c b r- n g t e p u u c e e p u u c F A J A O D F A J A O (Source: Iraq Stock Exchange (ISX), Asia Frontier Capital, data as of October 30th) Foreigners were active participants in the equity market and continued mostly as net buyers, with the overall buying pattern in line with that of turnover as discussed in the prior paragraph.
    [Show full text]
  • AFC ASIA FRONTIER FUND October 2015
    AFC ASIA FRONTIER FUND October 2015 Asian Frontier Countries Fund Category Investment Objective Public Equities Achieve long-term capital appreciation by investing in listed equities of companies that have their Bangladesh, Cambodia, Iraq, Laos, Maldives, Mongolia, principal business activities in high-growth Asian frontier markets. The fund focuses primarily on Country Focus Myanmar, Pakistan, Papua investments in consumer related stocks, financials and infrastructure. New Guinea, Sri Lanka, Vietnam Fund Manager Comment Monthly at NAV (five Subscriptions business days before month AFC Asia Frontier Fund (AAFF) USD A-shares gained +2.1% in October 2015. This month, the end) fund underperformed the MSCI Frontier Asia Index (+3.2%), the MSCI World Index (+7.8%), and Monthly at NAV the MSCI Frontier Index (+3.6%) after outperforming the same indexes in September. The year to Redemptions 90 days notice for Class A 180 days notice for Class B date performance of the AFC Asia Frontier Fund A-shares stands now at +1.4% versus the MSCI MSCI Frontier Markets Asia Frontier Asia Index which is down 11.6% during the same period. Benchmark Index Fund Manager Thomas Hugger The best performing indices within the AAFF universe in October were Vietnam (+8.0%), followed by Pakistan (+6.1%) and Laos / Mongolia (both +0.6%). The poorest performing markets Investment Asia Frontier Capital Ltd., Manager Cayman Islands were Iraq with (-9.9%) and Bangladesh (-5.9%). The top-performing portfolio stocks were a Investment Asia Frontier Investments Ltd., Cambodian junior gold mining company (+40%), followed by a Vietnamese truck producer Advisor Hong Kong (+39.8%), an oil producer from Myanmar (+33.3%), and a Mongolian construction material Fund Base USD, EUR, CHF company (+29%).
    [Show full text]