March 2018: Altaica EUR-Asia Emerging Fund: -3.85%


After a long period of boring markets the volatility came back in the markets, also in the Emerging Markets. This means a wide diversity of performance between the different markets. In this type of unpredictable market movements we decided to leave our positions almost unchanged.

Turkey was the market which suffered the most, it lost 8.4% of its value. The shadows of the war in Syria are still influencing the region. More important is the political situation which is becoming less attractive to foreign investors. The possibility of Turkey as part of the European Union is further away than ever. The purchase of Russian weapon systems brings tensions in the NATO. This while Turkey is the second largest partner in NATO after the USA.

Also Eastern Europe was suffering of the negativity on the markets and lost more than 5%. Except Taiwan(+2.13%) and Pakistan (+0.48%) all other position lost about 3% during March 2018.