Welcome to Asia Frontier Capital
Asia Frontier Capital Ltd. is a pioneering fund management company based in Hong Kong that specializes in investing in high growth Asian frontier economies by managing the AFC Asia Frontier Fund , AFC Iraq Fund and the AFC Vietnam Fund.
The AFC Asia Frontier Fund invests in public equities of Asian frontier countries that are seeing increasing consumption due to favorable demographic trends, rising incomes and high GDP growth. The fund invests in listed equities of companies that have their principal business activities in Bangladesh, Bhutan, Cambodia, Iraq, Kazakhstan, Kyrgyzstan, Laos, Maldives, Mongolia, Myanmar (Burma), Nepal, Pakistan, Papua New Guinea, Sri Lanka, Uzbekistan, and Vietnam.
The AFC Asia Frontier Fund is positioned to take advantage of the continuing economic shifts in these countries and offers high returns combined with significant diversification opportunities. This fund is directed by the founder and CEO of Asia Frontier Capital, Thomas Hugger, who has been investing in frontier markets across Asia and Africa for more than 20 years.
The AFC Iraq Fund was launched on the 26th June 2015 and aims to achieve long-term capital appreciation for investors by capturing value and growth potential in the post conflict high-growth & resource rich Iraq market. The fund emphasises long term investment horizon to truly capture the opportunity in Iraq. The fund's investable universe consists of locally listed companies that have their principal business activities in Iraq as well as foreign listed companies that have the majority of the business in Iraq as a whole including the prosperous Kurdish Region of Iraq (KRI). The AFC Iraq Fund offers access to investments in post conflict recovery potential of Iraq, including the KRI, and/or stability in its territory. The AFC Iraq Fund is managed by Asia Frontier Capital (Iraq) Limited, Cayman Islands under the executive leadership team of Thomas Hugger (CEO & Fund Manager) and Ahmed Tabaqchali (CIO) who have more than 47 years of investment experience as well as an extensive background covering global, emerging, frontier and MENA markets.
The AFC Vietnam Fund invests exclusively in listed Vietnamese equities to capture value in growth companies with a focus on the small to medium size companies. This market segment offers a unique investment opportunity as the valuation gap between large- and small-cap stocks in Vietnam is presently much wider than in comparable neighboring markets and the valuations are significantly depressed versus their regional peers. The fund adopts a fundamental-quantitative approach and employs an in-house earnings model to identify attractive companies where we see high growth opportunities. In conjunction with targeting the maximum upside potential the portfolio has been structured to mitigate corporate government and liquidity risks. The fund invests in a diversified portfolio of 70-90 attractively valued companies to carefully control concentration risk. This approach allows the fund to sell, or buy, positions without having a significant market impact. The fund is directed under the executive leadership of Thomas Hugger and Andreas Vogelsanger who have more than 50 years combined experience managing investments in frontier markets, Asia and around the world.
To subscribe to our monthly newsletter and register as a member on our website please click the 'Subscribe' button below. This information is restricted to qualified investors and Hong Kong professional investors. By registering you are indicating that you are a professional investor and will then be given access to our members area which contains the track record and performance of our funds as well as other information.
Our Latest Newsletter
- 01-06-2018 efinancialcareers: I left a top job in Hong Kong banking to invest in a frontier market. Here’s why
- May-2018 Asia Asset Management: Financing the frontiers
- 25-05-2018 NDH: Andreas Vogelsanger, CEO of Asia Frontier Capital (Vietnam), still sees value from small and mid cap stocks. (in Vietnamese)
- 23-05-2018 HFM Asiahedge: Coffee with Thomas Hugger
- 23-05-2018 Party may have ended for Vietnamese large caps but there’s value to be found in small stocks
- 22-05-2018 Bloomberg: Vietnamese Stocks May Continue to Correct on Valuations: AFC
- 05-04-2018 Iraq Business News: Market Review: Market Consolidates
- 06-03-2018 Irak: la reconstruction au défi d’un secteur bancaire fragile (French)
- 06-03-2018 The American University of Iraq: Statehood in the Kurdistan Region of Iraq through an Economic Lens
- 03-03-2018 Iraq Business News: Market Review: Momentum & High-Quality Leadership
- 22-02-2018 Iraq Business News: “It’s Not the Donations, Stupid”: Key Points from Kuwait Conference
- 07-02-2018 Bloomberg: Asia Frontier's Hugger Likes Pakistani, Vietnamese, Bangladeshi Markets - Interview with Thomas Hugger
- 02-02-2018 Historic Grievance: A Flawed Narrative for Statehood?
- 24-01-2018 Bloomberg: Malfunction Shuts Vietnam’s Main Stock Exchange for a Second Day
- 18-01-2018 Opalesque Roundtable Hong Kong 2018
- 12-01-2018 The Financial Express: AFC Asia Frontier Fund allocates 18.1pc asset to Bangladesh market
- 11-01-2018 Handelsblatt: Hinterhof mit Aussicht (German)
- 08-01-2018 Myanmar Times: Trading of YSX-listed companies gains momentum
- 05-01-2018 IR Magazine: Four questions with frontier investor AFC
- 18-12-2017 Myanmar Times: Stock trading down, but investors remain interested
- 21-11-2017 IRIS - Ahmed Tabaqchali: Iraq's Economy after ISIS: An Investor's Perspective
- 03-11-2017 Iraq In Context: Rosneft in the Kurdish Region: Moscow's Balancing Act
- 30-10-2017 Iraq Business News:Changed Oil Dynamics & Liquidity
- 29-10-2017 Iraq Business News: Interview with Ahmed Tabaqchali, CIO of AFC Iraq Fund
- 29-10-2017 CNBC: Iraq positions itself for growth after Kurdish referendum, ISIS rout
- 25-10-2017 Finalternatives: Asia Frontier Capital Launches UCITS Version Of Flagship EM Fund
- 25-10-2017 Citywire: Frontier equity star’s fund launched in Ucits format
- 11-10-2017 Finanz und Wirtschaft: Vietnam tritt in Chinas Fussstapfen (in German)
- 10-10-2017 Basra Conference: Interview with Ahmed Tabaqchali, CIO of AFC Iraq Fund
- 04-10-2017 Reuters: Mongolia names biker enthusiast PM, kick-starting IMF rescue package
- 02-10-2017 Iraq Business News: September Market Review: Implications of the Kurdish Referendum
- 26-09-2017 Fund Global Asia: Asia Frontier Capital sets up Luxembourg fund
- 26-09-2017 Livemint: China’s rise will change how investors view risky markets
- 25-09-2017 Opalesque: Asia Frontier Capital launches Luxembourg domiciled fund
- 25-09-2017 Press Release: Asia Frontier Capital Limited Announces The Launch Of Its First European Domiciled Fund in Luxembourg Providing Easier Access for European Investors To The Fast Growing Asian Frontier Markets
- 19-09-2017 Bloomberg: Inside Myanmar's Market Growth Potential - Interview with Thomas Hugger
- 11-09-2017 The Diplomat: Good Morning, Vietnam Stocks
- 04-09-2017 Iraq Business News: Stock Market Review: Realignment of Reginal Interests in Post-IS Iraq
- 23-08-2017 Valuewalk: Three fast-growing under the radar markets probably aren’t on your radar
- 21-08-2017 AFC Iraq Fund CIO Ahmed Tabaqchali to speak at Basra Oil, Gas & Infrastructure Conference at the Hilton Habtoor Grand in Beirut, Lebanon on 30-31 October 2017
- 07-08-2017 Iraq Business News: Stock Market Review for July Foreigners Selling, Locals Buying
- 17-07-2017 Iraq Business News: Economic Consequences post Mosul
- 13-07-2017 Bloomberg: MSCI Move Sees Pakistan Go From Best to Worst as Flows Ease
- 04-07-2017 Iraq Business News: A review of the Iraqi Equity Market for June
- 19-06-2017 Citywire: AAA-rated star mines golden frontier opportunity
- 30-05-2017 Iraq Business News: A review of the Iraqi Equity Market for May 2017 by Ahmed Tabaqchali
- 26-05-2017 Citywire: Top Performing Frontier Managers Revealed
- 22-05-2017 Energy and Capital: Boom Time in Iraq
- 21-05-2017 Asia Times: Stock surge putting Asia’s frontier markets on the map
- 07-04-2017 Bloomberg: Asian Stocks Rebound as Japanese Equities Rise; Yen Strengthens
- 02-04-2017 CNBC: Outlook upgrade could help push Iraq's economic evolution to its next step
- 30-03-2017 Asia Frontier Capital celebrates the 5-year anniversary of its flagship AFC Asia Frontier Fund with awards from the Investors Choice Awards and from Asia Asset Management
- 22-03-2017 Gulf Times: Vietnam to start futures trading in May to lure foreigners
- 15-03-2017 Bloomberg: IPO Bonanza Shows There's More Juice Left in Vietnam's Stocks Rally
- 03-03-2017 Kim Iskyan: Warning! The label on your ETF may be misleading
- 27-02-2017 Capitalist Exploits : Iraq: What You Haven’t Been Told
- 12-02-2017 Neue Zürcher Zeitung - Fünf Fragen an Thomas Hugger (in German)
- 20-01-2017 Hedge Fund Intelligence (HFI) : AFC Asia Frontier Benefits from Pakistan Bangladesh Vietnam
- 12-12-2016 CNBC:How some investors are taking the 'long view' of Iraq despite war
- 14-11-2016 Value Walk: One Of Asia’s Top Hedge Fund Managers – Why investing in India is possibly not all it’s cracked up to be
- 18-10-2016 Hubbis: Vietnam beckons overseas investors - Interview with Andreas Vogelsanger
- 19-09-2016 Neue Zürcher Zeitung - Investieren in Schwellenländern - Asiatische Erzählungen (in German)
- 13-09-2016 FinanceAsia: Frontier markets - winners from China's slowdown by Thomas Hugger
- 03-08-2016 Citywire: Highway to Hanoi by Ruchir Desai
- 03-08-2016 Two BarclayHedge Top 10 Awards for AFC Vietnam Fund for June 2016 performance
- 02-08-2016 AFC Asia Frontier Fund winner in Corporate Livewire's Global Fund Awards
- 22-07-2016 NASDAQ.COM - Frontier Markets: Vietnam Continues On Path To Liberalization
- 21-07-2016 Wall Street Daily - The Asian Market Surges in the Wake of Brexit by Carl Delfeld
- 30-06-2016 The Asian Banker - Webinar Brexit - impact and implications for the global banking and financial industry
- 06-06-2016 Dracula Capital: 3 Lessons From TOP Frontier Markets Investors
- 02-06-2016 Dracula Capital: Who are the little known top investors in frontier markets (hint: Thomas Hugger)
Asia Frontier Investments Limited, a subsidiary of Asia Frontier Capital Limited, is licensed by the Hong Kong Securities and Futures Commission "SFC" for Type 4 (Advising on Securities) and for Type 9 (Asset Management)
* The representative of the AFC Asia Frontier Fund (non-US), AFC Iraq Fund (non-US) and AFC Vietnam Fund in Switzerland is Hugo Fund Services SA, 6 Cours de Rive, 1204 Geneva. The distribution of Shares in Switzerland must exclusively be made to qualified investors. The place of performance and jurisdiction for Shares in the Fund distributed in Switzerland are at the registered office of the representative.
** The AFC Asia Frontier Fund is registered for sale to investors in Japan, Switzerland (qualified investors), Hong Kong & UK (professional investors), Singapore (accredited investors) and USA (accredited investors and qualified purchasers). The AFC Vietnam Fund is registered for sale to investors in Japan, Switzerland (qualified investors), Hong Kong & UK (professional investors), and Singapore (accredited investors). The AFC Iraq Fund is registered for sale to investors in Switzerland (qualified investors), Hong Kong & UK (professional investors), Singapore (accredited investors), and USA (accredited investors and qualified purchasers).
*** By accessing information contained herein, users are deemed to be representing and warranting that they are either a Hong Kong Professional Investor or are observing the applicable laws and regulations of their relevant jurisdictions.