QUARTERLY UPDATE AFRICAN & FRONTIER MARKETS FUND Q3 2020

Highlights

  1. The fund delivered 9.78% net return in Q3 2020.

  2. The main reference MSCI Frontier Markets index rose 8.29% net in Q3 2020.

  3. The FTSE Frontier Markets index returned 8.65% net in the third quarter of 2020.

  4. The MSCI Emerging Markets index rose 9.56% net in Q3.

  5. The positive momentum for equities that began in Q2 continued into Q3, supported by investor expectations that the recent economic recovery will continue as COVID-19 seemed to be contained.  

  6. In general frontier market equities outperformed emerging and most developed markets given the belief that a further spread of COIVD-19 remained low due to shrinking rate of new cases in frontier countries.

  7. The fund posted positive returns in Q3, outperforming both the MSCI Frontier Index and the FTSE Frontier Market Index. 

  8. The positive contribution came from both index and out of index exposure. 

  9. We believe that valuations remain attractive in many of our invested countries and expect continued positive performance.

 
Quarterly Report, Frontier Equities, SAFFNada HamdounFrontier Equities, SAFF