FMG Mongolia Fund lost 16.8% in the 3rd Quarter

It was a tough quarter for Mongolian assets. More or less all the constituents in the MSE Top 20 Index experienced sharp declines with blue chips Tavan Tolgoi (-26%) and Apu (-13%) leading the way down. The currency lost around 3% in line with the developing market...

FMG Mongolia Fund lost 5.4% in the 2nd Quarter

The Mongolian Stock Exchange (MSE) traded mostly sideways during the quarter while the offshore listed Mongolian companies were sharply lower. The Tugrik weakened substantially after several quarters of strength. The economy remains vibrant with GDP growth north of...

FMG Mongolia Fund lost 7.4% in the 1st Quarter

After taking the spot of the world’s best-performing stock market in the world in 2017, the MSE Top 20 index has been consolidating the gains. The majority of the MSE blue chips stocks traded lower with bell weather APU losing 8%. However, coal miners had a great...

FMG Mongolia Fund gained +11.6% in the 4th Quarter and +45.3% in 2017

In the 4th quarter the MSE Top 20 Index continued to trend higher, but at the end of the year, most stocks corrected after two quarters of strong returns. The strongest performer in the portfolio was Suu JSC, rallying by +50% on the back of strong growth prospects....

FMG Mongolia Fund gained +45.6% in the 3rd Quarter of 2017

FMG Mongolia Fund gained +45.6% in the 3rd Quarter of 2017 This was THE quarter for Mongolia. Hard commodities remained bullish and the Mongolia Stock Exchange was on fire. The rally which started in July was initially led by the two heavyweights TTL and APU, but they...

FMG Mongolia Fund lost 7.2% in the 2nd Quarter of 2017

FMG Mongolia Fund lost 7.2% in the 2nd Quarter of 2017 The MSE slowly inched higher through the quarter. On a stock level though, volatility was high with performance discrepancy. The fund performance was boosted by exposure to local mining stocks and a bakery. The...
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