Investors in frontier markets are among the bigger winners of 2014. The MSCI Frontier Markets returned 17.9% in the year to 3 December 2014, compared to a paltry 5.2% for the MSCI Emerging Markets.
Nevertheless, concerns remain over the level of liquidity, as well as how frontier markets will perform after Gulf states Qatar and United Arab Emirates left the index.
Here, T Rowe Price Frontier Markets Equity fund manager Oliver Bell addresses liquidity concerns, points to the pipeline of IPOs in frontier Asia, and explains how elections may change the shape of frontier markets in 2015.
