January 2017: Altaica EUR-Asia Emerging Fund: +0.41%

The year started relatively quite. There was not much spectacle but we ended with a small positive number.

The more stable situation in Turkey worked out well, this market gained more than 1%. Russia was not able to continue the strong positive trend of 2016, the markets just closed in the plus. We closed the Pakistan position after a negative monthly result, however this was one of the best performing positions over the last four months.

More positive news came from the east. India performed well with a gain of a little more than 1%. Best performing market however was

China with an impressive gain of 4%.