The Financial Times reports on increasing investors’ interest in frontier markets like Uzbekistan and Tanzania, given their attractive returns and low degree of correlation with the larger developing nations.
Reflecting this trend, the European Investment Bank issued its first-ever frontier local-currency note in the Georgian lari.
TCX features in the article, as the fund steps in to hedge the currency risk for the issuers of such local-currency notes. The TCX FI, first-ever frontier-currency bond index is also mentioned.
Read more in the FT article.