FMG aims for mining wealth with Mongolia fund

Mongolia_emerging-_marketFrontier investment firm FMG is launching a Mongolia fund that aims to profit as the country exploits its large resources of coal, copper and minerals. The fund will invest mainly in the consumer and mining sectors, with smaller targeted allocations to construction, real estate and financials. FMG says Mongolia is poised for strong economic growth because it borders China, which has huge demand for its commodities. As with all frontier markets, investing in Mongolia can be risky. An index of the top 20 stocks traded on the Mongolia Stock Exchange has declined 8% over the past year with significant volatility. Arild Johansen, a partner at FMG, said: “Most observers rank Mongolia as the fastest growing economy in the years to come.” FMG also runs an Iraq fund as well as emerging market funds in Russia, China, India, the Middle East and Sub-Saharan Africa. ©2012 funds europe

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