Hedge fund Everest Capital heads for the frontier

Inefficient frontiers

High GDP growth foreshadows attractive long-term equity market returns

The rise of emerging markets over the past 20 years provides a roadmap for the future of their smaller and often ignored brethren: frontier markets.The economies of today’s frontier markets as defined by the MSCI frontier markets index are equal in size to those of the countries that comprised the MSCI emerging markets index in 1992. Over the next 20 years, emerging markets experienced compounded annual GDP growth of around 10% in US dollar terms, which in turn propelled equity and fixed income