Showing confidence: Tundra Fonder’s latest fund to invest in Pakistan

Global asset management company focusing on sustainability.

KARACHI: A global asset management company, Tundra Fonder, has launched a new fund that will invest in Pakistan among other countries, a company statement said on Wednesday.

Dubbed as the “world’s first frontier market fund with a sustainable profile,” Sweden-based Tundra Fonder has named it Tundra Sustainable Frontier Fund. It will invest in many countries, including Vietnam, Bangladesh, Pakistan, Sri Lanka, Nigeria and Kenya.

The fund will have an ESG focus (environmental, social, governance) and will not invest in weapons, alcohol, tobacco, pornography and commercial gambling, or in companies that violate the UN conventions, it said.

Two analysts with experience from Transparency International have been recruited to focus on sustainable investments in frontier markets. In parallel, Ethix SRI Advisors in Stockholm have been engaged as an ESG research partner to assure the fund’s sustainability profile.

“Tundra is the world’s first fund management company to combine investments in frontier markets with a sustainability focus. And there is great interest. Three public institutions have already guaranteed seeding in the fund,” says Jon Scheiber, Tundra Fonder’s CEO.

Since it was founded in October 2011, Tundra has grown rapidly and now has assets under management of nearly SEK 2 billion (roughly Rs24.5 billion), 13 employees and offices in Stockholm and Karachi.

Published in The Express Tribune, May 14^th,  2015.

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