Frontier market investing is a risky business. Sturgeon Capital is well aware of the risks involved with trying to make money in some of the most undiscovered markets in the world. Indeed, the firm became one of the first investment managers to invest directly in Iran in 2015 when it launched its specialist Iran-focused fund.
The Sturgeon Capital Central Asia fund has no exposure to Iran but 12% of its assets are invested in Turkey and another 24% in Russia.
Economic volatility in these regions has not been conducive to rising asset prices. The Central Asia fund lost 2.6% in the month of...
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