KARACHI - Stockholm Sweden-based investment firm Tundra Fonder is opening a research office in Pakistan.

New firm operations are expected to begin in the first quarter of this year. Tundra Fonder currently manages six funds with a focus on frontier markets and emerging markets.

This continues the expansion in frontier markets. “With a research office in Karachi we are taking another step to deepen our commitment in frontier markets. The choice of location is logical. Pakistan makes up approximately 45 percent of the MSCI Frontier Asia Index and is a natural base for the analysis of frontier markets,” says Mattias Martinsson, Chief Investment Officer at Tundra Fonder.

“Tundra’s strong brand in Pakistan makes us a very attractive employer and we are able to attract the very best from a large pool of highly educated and ambitious analysts in frontier markets. In addition to securing our future position as a leading fund manager in Pakistan, Karachi makes us close to all the major markets in Asia.

Markets such as Vietnam, Pakistan, Bangladesh, Sri Lanka, Cambodia and Myanmar will undergo rapid change over the next 10-20 years.

After two years of working with Pakistan we have built up local market knowledge and a strong local network.

If we then add the synergies we see with our other markets, we are now ready to deepen our commitment with a local presence and our own staff in place,” says Mattias Martinsson.

Chairman Tundra Per Axman says “With a research office in the heart of the new Asia, we are taking another important step in our long-term commitment in the world’s emerging markets, establishing a foundation for Tundra’s future expansion”.

Muhammad Shamoon Tariq will be the head of the Karachi office, who has recently joined Tundra’s portfolio management team. Karachi’s office scope would include Pakistan and other Frontier markets investment arena.