New fact sheets equity funds
Frontier markets had a positive month in September. The Global Frontier fund returned 2.22% and the Frontier and Emerging ETFs rose by 2.09% and 0.86% respectively measured in euro.
Within the Frontier Markets universe, the stock markets in Vietnam (+4.85%) and Kuwait (+4.32%) in particular performed well. Kuwait stocks benefited from a final inflow before the country is promoted to the Emerging Market Index in November. The Global Frontier fund no longer has a position in the country. Nigeria took the cake this month: the All Share index showed a rebound of almost 10% after the central bank unexpectedly cut interest rates by one percentage point. Within the portfolio, Nigeria Breweries was an outlier with an increase of 36%.
More news about Vietnam, Africa and the Global Frontier fund can be found in the latest fact sheets of the equity funds:
TCM Global Frontier High Dividend Equity
TCM Vietnam High Dividend Equity
TCM Africa High Dividend Equity