When the coronavirus exploded around the world and onto financial markets in March, it made its mark on the already hard-hit returns at Swedish boutique investor Tundra Fonder. While global equities more or less have gained back losses, that is not the case for Tundra's funds that invest in frontier markets.
"March was the worst month since October 2008. March felt like a black hole was opening. We saw massive outflows from the markets. There was panic selling. That was the peak of the crisis," Mattias Martinsson, Chief Investment Officer at Tundra Fonder tells AMWatch.