The frontier universe is growing by number of countries, but is struggling for survival and relevance as an institutionally managed asset class.
Yet, despite all the gloom, the opportunity for active investors has, perhaps, never been better. In the long term, the opportunity for better returns from frontier (FM) and small emerging markets (EM) should be driven by faster growth in per capita GDP than that seen in developed countries and, for equity investors specifically, the opportunity to invest in very good companies in these less sophisticated and liquid markets at prices that insufficiently reflect their outlook. Investing in emerging markets healthcare: The main market drivers The best of times The FM and small EM e...
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