The fund will have an ESG focus (environmental, social, governance) and will not invest in weapons, alcohol, tobacco, pornography and commercial gambling. CREATIVE COMMON
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 14th, 2015.
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