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The Russian Federation First Mercantile Fund remains closed for subscriptions and redemptions, and given the current uncertainty around the underlying investments held by RFFMF’s custodian, no informal estimates of the Net Asset Value of the Share of the Fund will be produced for the time being.



FMG – Fund Management Group is a pioneer and specialist in emerging and frontier market investments using both the multi and single-managed approach to diversify investment risk. FMG has been investing in these markets since 1989 and has a team of investment professionals who travel extensively to identify investment opportunities. We offer the funds’ investors extensive experience, disciplined risk management and dynamic investment solutions. The group includes privately held investment management companies based in Malta and Bermuda. FMG offers investors an efficient approach to investing in the world’s most exciting equity markets and we have been rated by Morningstar and Barclay as the top performers in multiple categories.


Russian Federation First Mercantile Fund Ltd

FMG (EU) Rising 3 Fund

FMG (EU) China Fund

FMG (EU) Iraq Fund


AKJ FMG Limited (“FMG”) utilizes a comprehensive system of quantitative and qualitative analytics to identify investment opportunities throughout Emerging Markets. Since our founding in 1989, our investment management team has traveled extensively throughout the emerging markets, and our relationships and contacts in many of these countries are unparalleled. We invest our clients and our own capital diligently, with long term horizons, and are always in search of predicable high growth investments but only at reasonable prices. Our disciplined risk management process is strenuously applied across all our portfolios. Our managers selection process entails rigorous screening and due diligence, with allocations awarded only to seasoned and successful local investment managers with significant expertise in their given region. Our managers aggregate risk exposures are continually monitored. The FMG Investment Committee strictly over sees limits on country level risk and the portfolio risk management process. Our research and investment process is committed to using a diversified portfolio of proven investment styles to generate strong risk-adjusted returns.




Efficient access to the world’s fastest growing and most exciting Emerging Markets


Diversification by investing with multiple managers with different investment styles


Experienced investment committee with a world wide network since 25 years


New innovative investment funds in emerging and frontier markets