Notes from Mark Mobius
Frontier markets, generally, have companies that are oriented towards their respective domestic economies rather than the global economy, so we believe that they have less correlation to emerging markets in general.
The level of risk is necessarily higher as compared to emerging markets. Frontier markets generally share the same political and economic issues as emerging markets, but their valuations may be more attractive as a result of this perception.
In summary, they are the next emerging markets and include the likes of Kazakhstan, Romania, Nigeria and Vietnam.
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